Nearly 1 in 10 US Homes Affected by Natural Disasters in 2021: CoreLogic Report
Originally published on February 17, 2022, by the Hazard HQ Team for CoreLogic.
Natural disasters are increasing in frequency and severity, impacting regions underprepared to handle an economic disruption, job displacement, and the destruction of real estate assets.
Using its advanced risk modeling technology, CoreLogic analyzed over 120 million residential structures in the U.S. and took a closer look at defining the impact of natural disasters in 2021. The Climate Change Catastrophe Report estimates $56.92 billion in property damage from the largest natural catastrophe events of 2021.
“By leveraging granular data for the increasing frequency and severity of catastrophes, we are able to see that more than 14.5 million homes were impacted to some degree by natural hazards in 2021. That’s about 1 in every 10 homes in the United States,” said Tom Larsen, CoreLogic’s principal, Industry Solutions. “Insurers and lenders can leverage the latest technologies and work cross-functionally to better understand this risk, protect homeowners, and enable faster recovery times.”