Insurance Claims Surge After Hurricanes Helene and Milton in Florida
Florida – Despite the official end of hurricane season, the impact of Hurricanes Helene and Milton continues to be felt across the state. Recent reports reveal a significant increase in insurance claims linked to the damages caused by these storms, amounting to an estimated $5.233 billion in total claims.
The Numbers Behind the Claims
The Florida Office of Insurance Regulation (OIR) announced on December 1 that the total cost of insurance claims has risen by approximately $200 million since their last update on November 18. This spike is attributed specifically to Hurricane Milton, which made landfall on Florida’s Gulf Coast on October 9. The storm’s estimated claims have now reached $3.343 billion, up from $3.043 billion. In contrast, the estimated claims for Hurricane Helene, which struck the Big Bend area on September 26, remain unchanged at $1.99 billion.
Claim Breakdown
According to the OIR, the number of residential property claims due to Hurricane Milton has also seen a notable increase. As of the latest report, 302,581 claims have been filed, a rise from 285,311 reported claims in mid-November. Of these claims, a substantial 241,909 are residential property damage claims, while 11,730 relate to commercial property insurance. This data is collected through the OIR’s Insurance Regulation Filing System, which compiles estimates based on reported damages.
Impact on Employment
The effects of these hurricanes have not been limited to property damage. Employment figures have also taken a hit following the storms. After Hurricane Helene, the week ending October 5 saw an alarming increase in weekly first-time unemployment claims, with numbers soaring above 8,000. This worrying trend appeared to stabilize in the subsequent week but was followed by another spike after Hurricane Milton hit, with new claims rising to over 10,000 for the week ending October 19.
Unemployment Rates Remain Steady
Despite the fluctuations in weekly unemployment claims, Florida’s overall unemployment rate has remained stable. The October unemployment figure held steady at 3.1%, marking the seventh consecutive month without change. This stability suggests that while immediate job losses were experienced, the broader employment landscape in Florida may be recovering.
Looking Ahead
Although hurricane season officially ended, the repercussions of Hurricanes Helene and Milton will likely linger for months, if not years, as Florida residents work towards restoring their homes and businesses. Residents are reminded to keep track of their claim processes and seek assistance where needed, as the financial burden remains high.
Author: STAFF HERE ORLANDO WRITER
ORLANDO STAFF WRITER The ORLANDO STAFF WRITER represents the experienced team at HEREOrlando.com, your go-to source for actionable local news and information in Orlando, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Orlando International Fringe Theatre Festival, Megacon Orlando, and Central Florida Fair. Our coverage extends to key organizations like the Orlando Economic Partnership and Hispanic Chamber of Commerce Metro Orlando, plus leading businesses in leisure and hospitality that power the local economy such as Walt Disney World Resort, AdventHealth, and Universal Orlando. As part of the broader HERE network, including HEREJacksonville.com, HEREPetersburg.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
