Perhaps with moving families in mind, CoreLogic recently released a report of metropolitan areas where the potential for property damage resulting from hurricanes is significant.
According to their report, Long Island, New York, was found to have the highest exposure to storm surges and that if the hurricane season is severe, $99 billion in property damage expenses could be lost. The second costliest metropolitan area, is Miami-Dade, Florida, at $44.9 billion.
"The important thing to remember is that though individual homeowners can greatly reduce hurricane wind damage with improvements to buildings and structural design, they are often powerless to mitigate the impact of storm surge and resulting saltwater flooding," said Howard Botts, executive vice president and director of database development for CoreLogic.
The average cost of a home in New York is among the highest in the nation, which may help explain why property damage costs are so expensive there relative to the other metropolitan areas.
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