At least 100,000 insurance claims stemming from damage inflicted by Hurricane Matthew are anticipated to be filed with payouts expected to exceed $7.5 billion, reported by the Consumer Federation of America.
Damage from wind is forecast to lead the claim list, despite the number of homes that experienced flooding, especially in North Carolina.
“Families will have to dig deeper into their pockets because insurers have been steadily increasing hurricane wind coverage deductibles and imposing other policy limitations,” said J. Robert Hunter, director of insurance for CFA and former federal insurance administrator and Texas insurance commissioner in a statement.
