Showing posts from December, 2017

2017 Hurricanes Cause Billions in Damage to Florida Homes

This was a recording breaking year, but not in the way that coastal homeowners wanted it to be. For the first time in 100 years, two Category 4 or greater hurricanes made U.S. landfall in the same year. The damaged cause by Irma is estimated to reach levels that rival the devastation caused by Hurricane Katrina in 2005. The federal government picks up the tab on roughly 60 percent of damage cause by the storms, leaving the other 40 percent to be addressed by state and local governments, insurance, and individuals to foot the rest of the bill. With an estimated average of $28 billion in damage per year, that leaves roughly $11 billion for individuals, insurance, and local governments to absorb. In the case of Irma, that number increases fourfold.A Look at the Hurricane Damage Numbers for FloridaHurricane Irma was a Category 5 storm when it made landfall, and resulted in 25% of the homes in the Florida Keys being completely destroyed. More shocking is that experts state that not one sin…