CoreLogic: Hurricane Michael Threatens More Than 57,000 Homes

Hurricane Michael poses a threat to about 57,000 homes in the Florida Gulf Coast with a reconstruction cost value (RCV) of approximately $13.4 billion, an early risk analysis from CoreLogic finds.

The threat isn’t just from the storm surge alone. As the storm intensifies, high winds could also bring significant property damage. The storm is currently projected to make landfall as a Category 4 hurricane, with sustained winds of up to 145 miles per hour.

In its analysis, CoreLogic notes that the RCV figures assume 100% destruction of all at-risk homes – i.e., the worst case scenario.

Hurricane-driven storm surge can cause significant property damage when high winds and low pressure cause water to amass inside the storm, releasing a powerful rush over land when the hurricane moves onshore, CoreLogic says.

The property data and analytics firm will continue monitor the storm’s progress.

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