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Home / Insurance / Ian reconstruction cost estimated at $253 billion: CoreLogic

Ian reconstruction cost estimated at $253 billion: CoreLogic



Data and analytics firm CoreLogic Inc. said Tuesday its data analysis shows 1,044,412 single-family and multifamily homes along Florida’s coast with a reconstruction cost value of about $258.3 billion are at potential risk of storm surge damage from Hurricane Ian.

The forecasts assume Hurricane Ian makes landfall as a Category 4 hurricane and are based on the September 26, 2022 National Hurricane Center forecast issued at 11 a.m. ET, CoreLogic said.

The reconstruction cost figures assume 100% destruction of all homes at risk and are not representative of expected damage, CoreLogic said.

“Hurricane Ian has all the ingredients you need for a severe storm surge event,”

; Tom Jeffery, senior risk researcher at CoreLogic, said in a statement.

Hurricane Ian’s slower speed and intensification across the Gulf of Mexico increases the threat of a widened wind field causing damaging storm surges, CoreLogic said.

Hurricane-driven storm surge can cause significant property damage when high winds and low pressure cause water to pool inside the storm, releasing a powerful rush over land as the hurricane moves ashore.


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