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Irma’s Estimated Damages Climb Once Again

irmaLate last year we mentioned how the losses due to Hurricane Irma had risen to billions of dollars worth of damage. According to a recent article published on The Gainesville Sun, those losses have now increased to an estimated $7.2 billion. Over 860,000 claims have been filed since the storm passed through Florida back in September, according to the Office of Insurance Regulation. More than eighty percent of these claims involve residential properties, and the majority of them are located right here in South Florida.

It’s expected that these claims will continue to rise this year. Last month, the number of insured losses stood at over $6 billion but more than 10,000 claims had been filed since then, potentially signifying that homeowners are having to take a slow approach to filing their claims. Of these hundreds of thousands of claims, just over half of them have since been closed with payment received. Another 32 percent were closed without payment.

Are you still in the middle of dealing with your insurer in regards to your claim? We are here to help, give us a call today.

This information is provided by Miami insurance attorney Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation We look forward to working with you.

This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.