Hurricane Helene losses close to $6.4 billion: KCC

Privately insured losses from Hurricane Helene, the deadly storm that caused devastating damage from Florida to the Carolinas last week, will be nearly $6.4 billion, catastrophe modeling firm Karen Clark & Co. said Wednesday.

The estimate includes damage to residential and commercial properties, including business interruption losses, and automobiles, the Boston-based company said. It does not include boats, offshore damage and flood losses under the National Flood Insurance Program.

The storm, which killed more than 100 people, was unusual compared with most hurricane losses, KCC said in a statement.

“In contrast to a typical Category 4 hurricane, most of the damage occurred far from the landfall point, with higher wind damage in Georgia than Florida, more surge damage in Tampa, and the most significant inland flood damage in North Carolina,” the company said.

Several locations in western North Carolina reported more than 20 inches of rain.

“Inland flooding was the most impactful damage-producing aspect of Hurricane Helene from a total property damage perspective, but it contributes a smaller portion to insured losses as most properties are not insured for flood,” the statement said.

Helene was the strongest hurricane on record to make landfall in the Big Bend area on Florida’s Gulf Coast, KCC said. Property damage from coastal flooding was concentrated around Tampa Bay.