Hurricane Ian: final estimated damages between $41 and $71 billion

By Leah Draffen
Builder Online
October 7, 2022
Category: Finance & Economics
Region: United States, US East

Amid Hurricane Ian recovery, CoreLogic has updated its final damage estimates showing $41 billion to $70 billion in total flood and wind losses. The estimate includes wind loss, reevaluated insured and uninsured storm surge loss, and newly calculated inland flood loss for residential and commercial properties. Flood loss from NFIP and private insurance for residential and commercial properties is estimated to be between $8 billion and $18 billion and includes reevaluated storm surge and new estimates for inland flooding. Insured loss represents the amount insurers will pay to cover damages and includes residential homes and commercial properties. Uninsured flood loss for the area is estimated to be between $10 billion and $17 billion, while wind losses are estimated to be $23 billion to $35 billion.

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