"Helene" Damage To U.S. Homeowners Breaches $47 Billion

Even as Florida braces for another major hurricane, new estimates reveal that Hurricane Helene caused up to $47.5 billion in losses for property owners, Matt Egan reported for CNN.

CoreLogic calculates that Hurricane Helene caused between $30.5 billion and $47.5 billion in total wind and flood losses across 16 states. I Photo: Orange County, Florida Government Facebook

Helene, a deadly Category 4 hurricane that made landfall on September 26, caused “widespread and devastating” flooding across Florida, North Carolina, South Carolina, and Georgia, according to data analytics firm CoreLogic.

However, many residents in Helene’s path did not have flood insurance. CoreLogic estimates that Helene caused between $20 billion and $30 billion in uninsured flood losses.

This amount dwarfs the firm’s estimate of between $10.5 billion and $17.5 billion worth of insured wind and flood losses.

“A significant portion of the losses from this hurricane are likely to go uninsured, leaving the individual property owner responsible for paying for repairs,” CoreLogic wrote in an update.

In total, CoreLogic calculates that Hurricane Helene caused between $30.5 billion and $47.5 billion in total wind and flood losses across 16 states. The firm stated that it does not plan to issue another update unless new developments warrant it, Alicia Wallace also reported for CNN.