Hurricane Harvey is the costliest storm in state history, surpassing the damage totals, in insurance costs, that were incurred by Hurricane Ike.
Harvey caused $19 billion in insured losses, according to numbers released by the Insurance Council of Texas on Friday
By comparison, Hurricane Ike, which ravaged Galveston Island and surrounding areas nine years ago, caused $12 billion in insured losses.
Harvey came ashore on Aug. 25 near Rockport. The hurricane’s winds caused massive damage in that city and then produced record flooding over a 200-mile stretch along the Texas coast over the next five days.
Windstorm and other property loss claims are expected to surpass $3 billion, according to the insurance council. Another $4.75 billion in claims are expected to come from automobile and commercial property damage.
The National Flood Insurance Program expects to make $11 billion in payments to homeowners in Texas and Louisiana that were insured before the storm.
The $19 billion estimate does not include damage to property that was uninsured. Property owners without insurance might receive some financial help from FEMA or the Small Business Administration.