Hurricane Irene may end up being one of the 10 costliest catastrophes in U.S. history. Industry experts currently put the storm’s damage at $7 billion to $10 billion; however, much of that destruction may not be covered by insurance because it was caused by flooding and not winds. Flooding is often excluded from standard insurance policies.
Before weakening to a tropical storm, the first hurricane of the season hit the Eastern seaboard with torrential rains, strong winds and floods.
Hurricane Irene made landfall on Saturday in North Carolina, moved northward along the coast then slammed into Little Egg Inlet, N.J., as a Category 1 storm. Despite predictions, Irene then lost steam as it lumbered toward New England.
Much of eastern United States is getting ready for the arrival of Hurricane Irene. More than 50 million people live in the projected path of the Category 2 storm, which is expected to make landfall along North Carolina’s Outer Banks on Friday.
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