Hurricane Helene Causes $5B in Insured Losses, Total Economic Impact Could Reach $110B
- StewartWood Injury Lawyers
Categories: Economic Impact , Flood Damage , Hurricane Helene , Insured Losses , Southeast , Storm Recovery
Hurricane Helene has left a path of destruction across the Southeast, resulting in an estimated $5 billion in insured property losses and claiming 107 lives as of Monday. While these figures exclude flood insurance, many of the claims may involve flood-related damages, potentially reducing the liability for insurers. The storm's devastation spans North Carolina, South Carolina, Georgia, Florida, Tennessee, and Virginia, with severe flooding, power outages, and infrastructure damage causing widespread disruption.
The hurricane's economic toll is expected to be massive, with projections suggesting total losses could reach $110 billion. Businesses throughout the region have been forced to shut down due to washed-out roads and rising floodwaters, while cellular service outages have made communication difficult in many areas. In mountainous regions, where flood insurance coverage is limited, property owners are expected to bear the brunt of flood-related losses, further compounding the financial challenges left in the storm’s wake. As recovery efforts continue, the death toll is feared to rise, highlighting the ongoing crisis caused by Hurricane Helene.