Insurance claims are already piling up in the wake of Hurricane Milton, which slammed into Sarasota County as a Category 3 storm Wednesday night.
By Thursday, just one day after landfall, Floridians had filed nearly 2,000 claims, with the vast majority related to residential property damage. Early estimates put insured losses at over $21 million, but that number is expected to skyrocket in the coming days and weeks as the full extent of the damage becomes clear.
READ: Duke Energy Florida Sets Power Restoration Goals After Hurricane Milton
This rapid influx of claims echoes the aftermath of Hurricane Helene, which struck Florida’s Gulf Coast less than a month ago. Helene generated over 114,000 claims and an estimated $1.16 billion in insured losses.
As residents and businesses begin the arduous task of recovery, the insurance industry is bracing for a wave of claims related to wind damage, flooding, and other storm-related losses. The final cost of Hurricane Milton to insurers is likely to be substantial.
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