According to the Florida Office of Insurance Regulation, losses attributed to Hurricane Irma are estimated to be $7.38 billion. That is about $600 million lower than an estimate made in February. Most of the damage occurred in the southern part of Florida, and a majority of the damage occurred to residential property. Of claims that have been made, 32 percent did not result in a payment being made.
Another 56 percent of claims that had been made were closed and did involve a payment being made. Overall, 15 counties saw more than 20,000 insurance claims made, and Miami-Dade County saw the highest number of claims at 120,921. Collier County had the second-highest number of claims with 77,434. Of residential claims that had been filed, 90.1 percent had been closed while 58.2 percent of commercial property claims had been closed.
Citizens Property Insurance said that it was going to revisit about one-third of the 66,761 claims it received after Irma. Claims can be revisited if they had been disputed or if contractors had not submitted an estimate of the cost to repair property damage. The company is backed by the state, and it said that 90 percent of claims received had been closed, and that 54 percent of claims were closed with a payment. It expected to pay out $1.2 billion in damages related to Irma.
Homeowners who experience roof damage in a hurricane or other large storm may want to file a claim with their insurance company. If the claim is denied or not paid in full, a policyholder generally has the right to appeal the decision. An attorney may assist in disputing the claim, and it may be possible to have an insurance claim denial overturned either through negotiation or formal legal action.