Hurricane Ian’s Final Insured and Uninsured Damages an Estimated $41–70 Billion
An updated CoreLogic analysis amid Hurricane Ian recovery efforts estimates $41–70 billion in total flood/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.
Uninsured flood loss for the area is estimated between $10–17 billion, while wind losses are estimated to be $23–35 billion. Along Peace River in Arcadia, Florida, inland flooding was extreme, but housing is sparse in the location because of its Special Flood Hazard Area (SFHA) designation by FEMA.
According to CoreLogic estimates, more than 66,000 pending mortgage applications worth nearly $22.5 billion are currently in jeopardy from Hurricane Ian’s damages in Florida and the Carolinas.
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