Hurricane Florence’s financial toll on US homes and businesses

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Across the three U.S. states hardest hit by Hurricane Florence — North Carolina, South Carolina and Virginia — the cost to rebuild is staggering. Here’s a look at the devastation’s price tag:

$45 billion property damage – The top-end estimate of property damage reflects the effects of floodwaters and strong winds on thousands of single-family homes across an enormous disaster zone, according to Moody’s Analytics.

$28.5 billion in flood losses – That’s the maximum estimate of all flood losses across the zone, including from storm surge, rain and rising rivers, an analysis by the firm CoreLogic shows. North Carolina is thought to have suffered most, with $22 billion in losses.

$18.5 billion in estimated uninsured flood loss – As in Hurricane Katrina, most homes and businesses devastated by Florence’s floodwaters were not insured for damage from rising water.

[Source: CNN]

This entry was posted in , by Grant Montgomery.

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