Flood Insurance Claim Statistics

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Flood Insurance Claim Statistics

Flood insurance claim statistics have been pretty well documented since 1978, and some of them are absolutely astonishing.  I’ve picked out a few choice examples for you here, I haven’t gone all the way back to 1978 but you might be surprised at the number and amount of flood insurance claims from some of the more recent flooding disasters.

Let’s take a look at a few of the worst cases:

  • Hurricane Katrina caused absolute devastation in August 2005. 167,315 claims and $16,184,987,554 later (I don’t even know how to say that), the average claim was an astonishing $96,734 . . . that’s average.
  • Hurricane Ivan had already caused enough problems the year before in September 2004. 27,639 claims were paid out, a total of $1,582,633,141 at an average amount of $57,261 each. I bet those people were sure glad they had their flood insurance up to date.
  • Hurricane Ike arrived on the scene in September 2008 and caused 46,249 claims. $2,633,131,730 was paid out at an average of $56,934 each.
  • Hurricane Floyd caused claims of $462,268,248 to 20,438 policy holders in September 1999. At an average of $22,618 it might not sound a lot in comparison to many of the other flooding disasters in America, but think about it, $22,618 is still an awful lot of dosh!
  • Tropical Storm Allison arrived in June 2001 . . . $1,103,877,235 later, at an average of $36,000 per 30,633 claimants, that’s another 30,633 people who were glad of their flood insurance.

I don’t know who thinks up these names . . . they might sound harmless enough but they don’t half cause billions of dollars of damage.

Even if your area wasn’t affected by any of these mammoth disasters, it’s still extremely likely that your state has been affected by flooding . . . it happens in just about every one of the 50 states. Let’s take a look at some of the worst cases:

  • Louisiana – has had a whopping $16,037,858,264.84 in payments – it’s great isn’t it, even down to the last cent!
  • Texas – has had more than it’s fair share too . . . of floods that is! $5,473,807,722.66 worth to be exact.
  • Mississippi – comes in pretty close with a total of $2,867,066,211.62.
  • Florida – has had $3,602,670,875.47 worth of claims on flood insurance.
  • California – comes in at a total of $492,381,910.05

Shall I tell you the total for all states? Okay then, you’ve asked for it . . . $38,715,044,699.53 – I don’t even know how you would say that number, do you? Let’s try, it must be thirty eight billion, seven hundred and fifteen million, forty four thousand, six hundred and ninety nine dollars and fifty three cents. Wow.

In fact, the only state which, as far as I can see has never had any claims on flood insurance is American Samoa, but that doesn’t mean that they won’t figure in the figures some time soon!

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