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Hurricane Harvey could cost billions in property damage — and that’s not even including the flooding

Wind and storm surge damage from Hurricane Harvey could cost between $1 billion and 2 billion in property insurance claims, according to a report from a real estate data provider.

CoreLogic’s analysis, released late Friday as the hurricane bore down on the Texas coast, noted that Harvey would likely wind up costing less than Hurricane Celia, which struck Corpus Christi in 1970, and Ike, which hit Houston in 2008.

At the time CoreLogic’s analysis was prepared, Harvey was still a Category 3 storm, but was upgraded to a Category 4, the same as Celia, as it slammed into land. Property losses from Ike totalled $11 billion, largely because it made landfall near Houston, rather than less-populated areas.

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