Austin Halloween Insured Flood Losses Top $30M

February 13, 2014

Insured losses to residential and commercial property from flood waters which swamped Central Texas on the night of Halloween totaled $30,183,611, according to figures released by the Federal Emergency Management Agency (FEMA).

The insured losses represent 584 homes and businesses located in Travis, Hays and Caldwell Counties. The losses included the buildings and property inside. The $30 million loss did not include automobiles lost in the flood or uninsured losses.

“A lot of residents did not have flood insurance,” said Mark Hanna, a spokesman for the Insurance Council of Texas. “Those who did were able to receive advanced payments and build back much more quickly. But the scars of what they all went through will remain for a long time.”

Many long time residents say Onion Creek rose higher than they had ever seen it, reaching record levels and pouring flood waters into homes that had been untouched by previous floods.

Residents of Travis County had the majority of the insured losses from the storm with 510 claims totaling over $28 million. Hays County residents reported 69 claims totaling just over $1.7 million. Caldwell County residents filed five claims with insured losses totaling $227,000.

Residential flood policies offer coverage up to $250,000 for the structure and up to $100,000 for the personal property damaged by flooding or rising water. Comprehensive or other than collision auto insurance provides flood coverage for damaged vehicles.

Source: Insurance Council of Texas

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