Insured losses resulting from Hurricane Florence total an estimated $5 billion, according to the global risk modeling firm RMS.
“Wind damages are forecast to range between $1.3 billion and $2.6 billion, with storm-surge and inland flooding damages expected to total between $700 million and $1.2 billion,” MSNBC reports. “The company’s estimates also include losses to the National Flood Insurance Program, which is expected to lose between $800 million and $1.2 billion.”
Uninsured losses also are significant, with overall economic loss between $6 and $11 billion, according to RMS.
Hurricanes wreak havoc because they combine two of nature’s most damaging forces: wind and water. If you live on or near the coast, your best defense against hurricane damage is to make sure you have the proper home insurance coverage and know what to do to support your claim after a storm.
Now, for Florence survivors picking up the pieces in the storm’s aftermath, it’s time to review insurance coverage.
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