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Hurricane Matthew home damage expected to be in the billions

Is living down by the beach really worth the risk?
  • Hurricane Matthew is a category 4 hurricane descending upon Florida and creeping up the east coast.
  • An estimated $54 billion in home damages on the Atlantic Coast is predicted by CoreLogic.
  • FEMA flood zones and surge zones are two different categories of homes, but only FEMA flood zones require a policy with the National Flood Insurance Program.

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Some homeowners are bracing for the worst as Hurricane Matthew now claws and crawls its way up the east coast of Florida. But the Sunshine State is resilient in the face of disaster, made apparent in the rebuilding following September 2004's trifecta of Hurricanes Charley, Frances and Jeanne, which pummeled Florida for six weeks en route to nearly $15 billion in estimated reconstruction value (RCV). A new CoreLogic Storm Surge Report predicts Hurricane Matthew, a category four hurricane like Charley, will affect 291,918 homes on the Atlantic Coast with an estimated RCV of over $54 billion. Florida, because of its exposure to both the Atlantic and Gulf coasts, ranks no. 1 in terms of the number of at-risk homes, with approximately 2.7 million. The next closest state is Louisiana with 800,521, the report shows. CoreLogic data Miami ranked as the top at-risk metro, with an estimated 780,482 homes in danger of feeling nature's wrath. The estimated RCV of all surge zo...