Hurricane Helene expected to be one of the costliest storms in U.S. history

Moody's Analytics predicts Hurricane Helene will cause $15 to $26 billion in property damage alone, and AccuWeather estimates the total damage and economic loss could cost up to $110 billion. These figures would make Helene one of the most expensive storms in the country's history. Mark Friedlander, spokesperson for the Insurance Information Institute, joins CBS News to explain how the natural disaster will impact home insurance prices.

[nickmacarius]

And insurance won't pay out anything.

[vmaxrydr]

Now this would be a great place for our woke government to spend billions helping Americans.

[posthocprior]

Here's the summary: 1% of homeowners have flood insurance, according to this estimate from a representative of the insurance industry. There's also no federal program to provide payouts if private insurance doesn't.

[Forg]

It’s awful there’s still so many people trapped and without power

[meionkcabrown]

People are instantly homeless without flood insurance. Homeowner insurance adjusters will say it’s flood to avoid paying out. It’s for profit and you will spend more money trying to sue to make them honor the policy😡Hurricane Katrina and Isaac Alum! So sorry for their loss. Hopefully, family and friends can help those who don’t have the money to rebuild.

[vivalaleta]

A better kind of government would take care of its citizens in crisis.

[pierrevaillancourt]

its ok, they made money with fossil fuels, they are going to pay for their damage, right ?

[Nonubussiness]

Good thing we are giving all our money to Ukraine and

[prophecyrat]

All I know is we need one more 14trillion dollar aircraft carrier, ya know for our freedom!😂

[aaap]

50 billion but insurance wont pay more than 3 billion

[MrTom-klhy]

I watched the hurricane forecast closely because I'm old enough to remember other hurricanes that carried massive rain into PA where i live, and this was before hurricanes became even wetter with the warm oceans. I was surprised to see that the forecast showed the storm hooking northwest and stalling, rather than heading northeast as is more common. The forecast was really pretty accurate.

I greatly reduced my home insurance after paying $30, 000 over 30 years with one single $200 dollar claim for a fallen tree over that time. The cost of school tax and insurance over 35 years actually exceeded the cost of my home by over 300%. Go figure...

[JoJo-psml]

If only it were Puerto Ricans being affected...It would cost pennies on the Dollar

[wenbo]

Nancy pelosi called this beautiful sight😢😢😢😢

[lashlarue]

Hey, let's lose all the wars and then pretend that we won't have to learn the value of peace the hard way when we've thrown the match and given up all our field position.

[fordsrestorations]

There was no normal hurricane soon as it made landfall it went straight up the middle of America, within a couple hours ripping and tearing loose everywhere

[kandiceblu]

Who would live in those areas and not have flood insurance ...is completely insane ...to me... I would forgo something to have peace of mind with that ....because the storms are all getting worse ...every other year there is a terrible storm and most of them are caused by flooding or in part

[deusbeowulf]

I think they meant the wokest hurricane in history. Weather is already woke, but this hurricane took this to another level and there is no turning back. We will not forget nor forgive.

[dirtycommie]

The bootstraps will bootstrap one way or another.

[dadevi]

Most long time homeowners don't have insurance of any kind. They've become destitute overnight.

[sforti]

Even if the government had it, they would just give it to Ukraine