Six days after Hurricane Milton slammed into Florida, estimated insured losses increased Tuesday to $1.865 billion, according to data posted on the Florida Office of Insurance Regulation website.
Numbers of claims and estimated insured losses have steadily risen — and are expected to continue to increase as property owners report damage to insurers. The state data showed that 152,183 claims had been reported as of Tuesday, including 124,660 involving residential property. Also, 21,177 claims had been reported for “private passenger” vehicles, with other claims for such things as damage to commercial vehicles and commercial property.
As a comparison, 43,897 claims had been reported as of Friday, with estimated insured losses of nearly $586,5 million. Of the claims reported as of Tuesday, 2,193 had been closed with payments to policyholders, while 6,175 had been closed without payments, according to the state data. The Category 3 Milton made landfall Wednesday night in Sarasota County before crossing the state as a hurricane.
In Flagler County and its cities, including Palm Coast, the total damage to private residential properties was estimated at $18.8 million when local governments issued the figure on Tuesday. Governments have yet to tally their own losses, as well as losses to erosion on the county’s 18 miles of beaches. Those amounts are expected to exceed losses to private properties.
–News Service of Florida
Jim says
I’m glad to see that the ratio of claims being paid to those closed without payment is 1:3. Looks like all the “improvements” to insurance laws made by our legislature are paying off for those impacted by the recent hurricanes.
At some point, I maintain hope that people will look at what our government actually does rather than listen to their BS rhetoric. We’ve been sold down the river. We pay exorbitant insurance rates and if/when we need to make a claim, the laws are written is such a way that the insurance companies can just refuse to pay the claim and the homeowner is forced either to sue at their own expense or eat the loss.
Anyone who thinks Renner and DeSantis have been acting in our best interests just isn’t paying attention to reality.
Charles says
Pretty soon Florida will no longer have homeowner insurance companies and this state will turn into an empty ghost state.