Hurricane Harvey’s insured losses estimated to cost nearly $19 billion

Hurricane Harvey: The nation's largest state insurance trade association estimates insured losses from Harvey at nearly $19 billion- and that doesn't count damage not covered by insurance.

By: AP | Austin (texas) | Published:September 15, 2017 11:54 pm
Hurricane harvey, Houston flood, United states floods, Harvey, texas hurricane, texas harvey, world news, indian express news Hurricane Harvey: Debris left behind in the wake of Hurricane Harvey in Rockport, Texas. (Source: AP Photo)

The nation’s largest state insurance trade association estimates insured losses from 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’ 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.

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