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Hurricane Michael insured damage totals hit $4.3 billion

According to the Florida Office of Insurance Regulation, Hurricane Michael racked up more than $4 billion in insured losses. Pictured is a home in Mexico Beach devastated by the storm. [DOUGLAS R. CLIFFORD   |   Times, 2018]
According to the Florida Office of Insurance Regulation, Hurricane Michael racked up more than $4 billion in insured losses. Pictured is a home in Mexico Beach devastated by the storm. [DOUGLAS R. CLIFFORD | Times, 2018]
Published Dec. 11, 2018

Two months after Hurricane Michael devastated the Panhandle region, insured losses from damages have hit $4.3 billion, according to the Florida Office of Insurance Regulation.

As of Dec. 7, about 131,500 claims were filed from the October Category 4 storm. Just over half of the claims have been paid thus far, and about 67 percent of the claims closed.

The storm's damage in Florida was largely confined to the Panhandle. It caused significantly less damage than Hurricane Irma, which traveled up the middle of the state and racked up nearly 1 million claims and $10.4 billion in insured losses, according to the Florida Office of Insurance Regulation.

Residential property has made up 67 percent of the filed Hurricane Michael claims. That includes roughly 63,900 homeowners claims, 14,500 dwellings, 8,800 mobile homes and 512 commercial residences.

Bay County, where the hurricane made landfall, accounted for most of the claims — about 79,000 — followed by Jackson County (13,100) and Leon County (9,000).

Contact Malena Carollo at mcarollo@tampabay.com or (727) 892-2249. Follow @malenacarollo.

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