Nov 2, 2015

Damage Estimates Rising From South Carolina's 'Record-Breaking' Storm

Richland County, SC
Lexington County, SC
USA
by
Amy O'Connor
,
Insurance Journal
Flooding in South Carolina. Photo: Insurance Journal
Flooding in South Carolina. Photo: Insurance Journal

The potential exposure home insurers in South Carolina face from the early October storm that flooded the state is estimated to be over $18 billion, according to catastrophe modeling firm CoreLogic.

Richland County had the most exposure with 8,185 damaged homes and $1.3 billion in damage on the high-risk side and 13,027 homes and $1.78 billion in damage to moderate-risks structures. Lexington County was next with 7,453 structures damaged and $852 million in high-risk impact and 10,691 structures and $1.22 billion in moderate-risk impact. The risk levels are defined by the CoreLogic Flood Risk Score, which incorporates a variety of data elements that inform the risk at the property level