We hope your home is insured.
A study of major metropolitan areas on the Atlantic and Gulf Coasts found the New York metro area is at the greatest risk of money loss in the event of a major hurricane or storm surge, according to a new study.
CoreLogic looked at homes in New York City, Long Island and northern New Jersey and found that property damage could reach $168 billion if a major storm blew into town (although that’d not likely happen).
Florida had the most homes at risk, with 1.4 million, although property values are greater in the New York area, the study said.
CoreLogic focused more on storm surges this year rather than direct hits with hurricanes because Hurricane Irene showed surges can do a significant amount of damage in many states that it previously overlooked.
“Even a Category 1 storm could cause property damage in the billions along the northeastern Atlantic Coast and force major metropolitan areas to shut down or evacuate,” said CoreLogic VP Dr. Howard Botts.
Here’s a full list of the cities CoreLogic researched: New York, N.Y.; Virginia Beach, Va.; Miami, Fla.; New Orleans, La.; Tampa, Fla.; Boston, Mass.; Houston, Texas; Cape Coral, Fla.; Jacksonville, Fla.; Charleston, N.C.; Bradenton, Fla.; Philadelphia, Pa.; Mobile, Ala. and Corpus Christi, Texas.