CoreLogic Analysis Estimates Total Residential Insured and Uninsured Flood Loss for Hurricane Harvey Between $25 Billion and $37 Billion
Approximately 70 Percent of Estimated Flood Damage is Uninsured
IRVINE, Calif., August 31, 2017 – CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced preliminary residential loss estimates for Hurricane Harvey. According to the data analysis, insured flood loss for homes in the 70-county area in Texas and Louisiana affected by the storm is estimated to be between $6.5 billion and $9.5 billion, which includes inland, flash and storm surge flooding. An additional estimated $1 billion to $2 billion in insured loss is attributed to damage from wind. Residential uninsured flood loss for the same area is estimated to be between $18 billion and $27 billion. As a result, an estimated 70 percent of flood damage from Hurricane Harvey is not covered by any insurance.