Authored by Sara Weathers
According to an article from Insurance Journal, the current estimate is that there is $57 billion in insured damages from Hurricane Ian that recently hit Florida and much of the East Coast.
While there is $57 billion estimated in insured losses, another article from Insurance Journal stated that there could be from $65 to $100 billion total in damages. Rebuilding could be more difficult this time around with a supply chain that is still struggling from the pandemic. Construction companies have already warned that labor shortages and supply-chain issues will make clean-up and rebuilding a much slower process than usual.
Home Depot has already sent teams to Florida to assess damages to buildings to help determine the amount of materials needed at their stores in the area. Buildings that withstood Hurricane Ian could still see further damage, as boarded-up buildings are at risk for mold growth.
Have questions about your insurance coverages or how to prepare your business for a storm? AdvoCap Insurance is here to help!