14.5M+ Homes Impacted by 2021’s Nat Cat Events
Tuesday, February 22nd, 2022 Catastrophe PropertyAnalysts at CoreLogic, a global provider of property information, analytics, and data-enabled solutions, have released a new report which reveals that over 14.5 million single and multifamily homes were impacted by the largest natural catastrophe events of 2021, with an estimated $56.92 billion in property damage.
The report looked at thirteen major hazard events of 2021, ranging from hurricanes and severe weather such as tornados and hailstorms to wildfires and winter storms, in order to understand how these events have disproportionate yet wide-sweeping effects on properties.
The analytics company analysed over 120 million residential structures in the U.S. and took a closer look at defining impact.
Property impact varies by event, while a wildfire has the potential to consume an entire property, there may also be damage caused by smoke, ash and odor to the neighbouring structures that remain standing.
Because risk comes in various degrees, any sort of property damage can have a compounding effect on the homeowner and economic stability.
