Just six days after Hurricane Milton battered Florida, the estimated insured losses have already reached a staggering $1.865 billion, according to the Florida Office of Insurance Regulation. This number is expected to continue rising as more property owners assess the damage and file claims with their insurance companies.
As of Tuesday, over 152,000 claims had been filed, with the majority related to residential property damage. Other claims include damage to vehicles, commercial property, and more. This represents a significant jump from Friday’s estimate of nearly $586.5 million in losses and just over 43,000 claims.
READ: Florida Approves Shift Of 300,000+ Home Insurance Policies From Citizens To Private
Hurricane Milton, a Category 3 storm, made landfall in Sarasota County last Wednesday night and carved a path of destruction across the state.
While some claims have been processed and paid out, the vast majority are still pending.
This escalating financial toll underscores the significant impact Hurricane Milton has had on Florida communities. The road to recovery will be long, and the final cost of this devastating storm is likely to continue climbing in the days and weeks to come.
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