Data management company CoreLogic just released a new report estimating that Hurricane Florence may have caused close to $30 billion in property damage in the Carolinas and Virginia.
According to their new report, “flood loss for residential and commercial properties in North Carolina, South Carolina and Virginia is estimated to be between $19 billion and $28.5 billion which includes both storm surge and inland flooding. Specifically, uninsured flood loss for the same area is estimated to be between $13 billion and $18.5 billion. Wind losses are estimated to be an additional $1 billion to $1.5 billion.”
The report also includes the estimates of losses that were insured, including a total of $6.0 billion to $10.0 billion with $4.5 billion to $7.5 billion in NC, $1.0 billion to $2.0 billion in SC, and as much as $500 million in Virginia.
The company estimates that the total number of residential homes affected by the storm is over 600,000. North Carolina was hit the hardest with over 487,000 homes damaged. South Carolina saw 109,000 homes damaged and Virginia saw about 28,000 affected.
They also estimate that damage to commercial properties includes 38,000 in North Carolina, 9,000 in South Carolina and 1,000 in Virginia.
Do you know anyone affected by the storm?