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New report assesses Charleston's hurricane damage risk

By Tyrone Richardson, The Post and Courier, Charleston, S.C.
McClatchy-Tribune Information Services

July 14--The Charleston region ranks in the top 15 U.S. metro regions prone to hurricane-driven storm surge damage, says a new report.

Real estate information firm CoreLogic reports that Charleston was No. 13 with 108,045 properties that could have a total reconstruction value of $27.8 billion.

The annual storm surge report shows the number of at-risk properties increased in the region by nearly 33 percent compared to 2013 data. The jump in total properties is largely because the new report factors in additional categories of single-family structures, including mobile homes, duplexes, manufactured homes and cabins.

The report also showed the level of risk for parts of the Charleston region. For instance, of the 108,045 properties in the area, 41,336 are designated in the "extreme" risk zone, meaning that they would be affected by all hurricane category levels.

Hurricane damage has been a hot-button issue in recent years because of Superstorm Sandy, rising prices for standard insurance coverage and federal changes that have threatened to increase flood premiums for some property owners in the region.

New York City topped the risk rankings for 2014 with 687,412 properties valued at $251 billion that could be affected by hurricane damage.

For states, the firm ranked Florida as riskiest. S.C. was No. 7 with 280,194 properties valued at nearly $68 billion.

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(c)2014 The Post and Courier (Charleston, S.C.)

Visit The Post and Courier (Charleston, S.C.) at www.postandcourier.com

Distributed by MCT Information Services

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