Insured losses from Hurricane Milton have already surpassed $586 million just two days after the storm made landfall on Florida’s Gulf Coast. The figure, released by the state Office of Insurance Regulation, is expected to rise significantly as more claims are filed.
As of Friday, nearly 44,000 insurance claims had been reported, with the vast majority related to residential property damage.
Only a small number of claims have been processed so far, indicating the full extent of the financial impact is still unfolding.
READ: Frostproof Man Snagged For Burglary During Hurricane Milton Power Outage: Polk County Sheriff
Hurricane Milton, a Category 3 storm, struck the Gulf Coast on Wednesday night and tracked across the state, leaving a trail of damage in its wake. The storm’s strong winds, heavy rainfall, and storm surge caused widespread property damage, particularly to homes and businesses.
The estimated insured losses are likely to climb into the billions of dollars as residents and businesses continue to assess the damage and file claims with their insurance companies. This would make Hurricane Milton one of the costliest storms in Florida’s history.
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