CoreLogic Analysis Estimates Total Residential Insured and Uninsured Flood Loss for Hurricane Harvey Between $25 Billion and $37 BillionSource: Business Wire
—Approximately 70 Percent of Flood Damage is Uninsured—
Insured flood loss covered by the National Flood Insurance Program
(NFIP) is estimated at
$6 billion to $9 billion.
- This includes inland, flash and storm surge flooding.
- More than 98 percent of residential flood insurance in the U.S. is provided through the NFIP.
Insured flood loss from private insurers is estimated at less than
Uninsured flood loss, which represents damage from storm surge and
inland flooding not covered by any insurance policies, is estimated at
$18 billion to $27 billion.
Insured loss from wind damage is estimated at
$1 billion to $2 billion.
Loss Estimates from Hurricane Harvey
|CoreLogic Analysis||Flood Loss||
|Insured by NFIP||$6-9 B||
|Insured by Private Insurers||<$0.5 B|
|Total Insured Flood Loss||$6.5-9.5 B||Total Uninsured Flood Loss||$18-27 B||Total Insured Loss Including Flood and Wind||$7.5-11.5 B|
Insured loss represents the amount insurers will pay to cover damage and loss.
This analysis includes residential homes, including contents, and does not include commercial, loss of business or other broader economic loss from the storm.