![]() The average paid loss from Hurricane Harvey, which devastated Texas in 2017, was $116,800, the Insurance Information Institute said.įlooding is the nation's most common and costly natural disaster, yet many are ill-prepared for it, the institute said.Ī 2020 survey conducted by the group found that 27% of all American homeowners insurance policyholders said they had flood insurance. “It’s almost limitless," said Jennifer Lizardi, a manager with the Neighborhood Housing Services of South Florida, a nonprofit that helps prospective homebuyers.įEMA says just one inch of floodwater can cause up to $25,000 in damage. That does not include costs to replace damaged appliances, furniture and belongings. Those without flood insurance may face exorbitant expenses, upward of $50,000, to make structural repairs and get rid of mold, experts said. Petersburg are located, the nonprofit said. ![]() Another 51,500 are in Hillsborough and Pinellas counties, where Tampa and St. An additional 48,500 homes are at risk in Lee County, where officials say damage caused by Ian is extensive in Cayo Costa, Fort Myers and Cape Coral. ![]()
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