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According to real estate data provider CoreLogic, residential properties in the Carolinas and Virginia sustained between $19-$28.5 billion in damage from Hurricane Florence, which includes impact from both inland flooding and storm surge. Of that amount, an estimated $13-$18.5 billion is in uninsured losses.
The heavy rainfall deposited by the slow moving storms caused widespread flash flooding in North Carolina and South Carolina. Many homeowners in inland cities that are not in a flood zone were caught unaware, as the standard home insurance policy doesn’t cover flood damage.