Harvey’s Insured Losses Estimated to Cost Nearly $19B
The nation’s largest state insurance trade association estimates insured losses from Hurricane Harvey at nearly $19 billion — and that doesn’t count damage not covered by insurance.
The Insurance Council of Texas says windstorm and other claims from Harvey will be worth nearly $3 billion. Approximately 250,000 damaged cars and commercial vehicles will trigger around another $4.75 billion in insurance claims.
The council cites the Federal Emergency Management Agency in estimating that Harvey’s flooding will result in $11 billion in payments to homeowners with flood insurance. Those flood losses would be the second-highest on record, trailing only Hurricane Katrina’s $16 billion.
Harvey battered Texas’s Gulf Coast and flooded a vast area stretching from Houston to the Louisiana border. The storm caused 70-plus deaths and damaged or destroyed more than 250,000 homes.
To Read The Full Story
Are you already a subscriber?
Click "Sign In" to log in!
Become a Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Become a Print + Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Renew Print + Web Subscription
Click “Renew Subscription” below to begin the process of renewing your subscription.