CoreLogic Analysis Estimates Property Damage from Hurricane Irma Between $42.5 Billion and $65 Billion
—Approximately 80 Percent of Estimated Flood Damage is Uninsured—
Residential Loss
Flood loss for residential properties from Hurricane Irma is estimated at
Of the total wind damage, an estimated
Commercial Loss
Insured flood loss for commercial properties is estimated at
Of the total wind damage, an estimated
Data Highlights:
- Insured residential flood loss covered by NFIP is estimated at
$5 billion to$8 billion , representing one quarter of damaged homes.- This includes inland, flash and storm surge flooding.
- More than 98 percent of residential flood insurance in the
U.S. is provided through the National Flood Insurance Program (NFIP).
- Uninsured residential flood loss is estimated at
$20 billion to$30 billion , representing 80 percent of damaged homes. - Insured commercial flood loss is estimated at
$4 billion to$8 billion , the majority of which is covered by private insurers with a small percentage covered by NFIP. - Insured residential loss from wind damage is estimated at
$11 billion to$15 billion . - Insured commercial loss from wind damage is estimated at
$2.5 billion to$4 billion .
CoreLogic Hurricane Irma Loss Estimates |
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Residential | Commercial | Total | ||||||||||
Insured Flood Loss | |
|
|
|||||||||
Uninsured Flood Loss | |
N/A | ||||||||||
Insured Wind Loss | |
|
|
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Total Losses | |
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Source: |
Insured loss represents the amount insurers will pay to cover damage and loss.
*This total does not include commercial uninsured flood loss.
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