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Do not fill this in! ===Economic loss estimates=== {{Costliest U.S. Atlantic hurricanes|align=right}} [[Moody's Analytics]] initially estimated the total economic cost of the storm at $81 billion to $108 billion or more; most of the economic losses are damage to homes and commercial property.<ref name="Lee">{{cite news|author=Don Lee|url=http://www.latimes.com/business/la-fi-harvey-economic-toll-20170901-story.html|title=Harvey is likely to be the second-most costly natural disaster in U.S. history|work=Los Angeles Times|date=September 1, 2017|access-date=September 3, 2017|archive-url=https://web.archive.org/web/20170903225719/http://www.latimes.com/business/la-fi-harvey-economic-toll-20170901-story.html|archive-date=September 3, 2017|url-status=live}}</ref> Reinsurance company [[Aon (company)|Aon Benfield]] estimated total economic losses at $100 billion, including $30 billion in insured damage, making Harvey the costliest disaster in 2017 by their calculations.<ref>{{cite news|newspaper=Insurance Journal|date=January 24, 2018|access-date=January 29, 2017|title=Insured Natural Disaster Losses in 2017 Were 38% of Economic Costs of $353B: Aon|url=https://www.insurancejournal.com/news/international/2018/01/24/478246.htm|archive-url=https://web.archive.org/web/20180124200407/https://www.insurancejournal.com/news/international/2018/01/24/478246.htm|archive-date=January 24, 2018|url-status=live}}</ref> ''[[USA Today]]'' reported an [[AccuWeather]] estimate of $190 billion, released August 31.<ref name="190billion">{{cite news |author=Doyle Rice |url=https://www.usatoday.com/story/weather/2017/08/30/harvey-costliest-natural-disaster-u-s-history-estimated-cost-160-billion/615708001/ |title=Harvey to be costliest natural disaster in U.S. history, with an estimated cost of $190 billion |work=USA Today |date=August 30, 2017 |access-date=August 30, 2017 |archive-url=https://web.archive.org/web/20170903090312/https://www.usatoday.com/story/weather/2017/08/30/harvey-costliest-natural-disaster-u-s-history-estimated-cost-160-billion/615708001/ |archive-date=September 3, 2017 |url-status=live }}</ref> On September 3, Texas state governor Greg Abbott estimated that damages will be between $150 billion and $180 billion, surpassing the $120 billion that it took to rebuild [[New Orleans]] after Katrina.<ref name="180 billion">{{cite news|author1=Gary McWilliams|author2=Parraga Marianna|title=Texas governor says Harvey damage could reach $180 billion|url=https://www.reuters.com/article/us-storm-harvey/texas-governor-says-harvey-damage-could-reach-180-billion-idUSKCN1BE0TL|work=Reuters|access-date=September 3, 2017|archive-url=https://web.archive.org/web/20170903210742/https://www.reuters.com/article/us-storm-harvey/texas-governor-says-harvey-damage-could-reach-180-billion-idUSKCN1BE0TL|archive-date=September 3, 2017|url-status=live}}</ref><ref>{{cite news|author=Oliver Milman|title=Harvey recovery bill expected to exceed the $120bn required after Katrina|url=https://www.theguardian.com/us-news/2017/sep/03/harvey-recovery-bill-expected-to-exceed-the-120-billion-required-after-katrina|newspaper=The Guardian|access-date=September 3, 2017|date=September 3, 2017|archive-url=https://web.archive.org/web/20170903185259/https://www.theguardian.com/us-news/2017/sep/03/harvey-recovery-bill-expected-to-exceed-the-120-billion-required-after-katrina|archive-date=September 3, 2017|url-status=live}}</ref> According to weather analytics firm [[Planalytics]], lost revenue to Houston area retailers and restaurants alone will be approximately $1 billion. The Houston area controls 4% of the spending power in the United States.<ref>{{cite news |author=Adrianne Pasquarelli |url=http://adage.com/article/cmo-strategy/hurricane-harvey-cost-brands-1b-sales/310268/ |title=Harvey Blasts Brands: Could Cost More Than $1B in Sales |work=[[Advertising Age]] |date=August 28, 2017 |access-date=August 29, 2017 |archive-url=https://web.archive.org/web/20170829000612/http://adage.com/article/cmo-strategy/hurricane-harvey-cost-brands-1b-sales/310268/ |archive-date=August 29, 2017 |url-status=live }}</ref> In September 2017, the Insurance Council of Texas estimated the total insured losses from Hurricane Harvey at $19 billion. This figure represents $11 billion in flood losses insured by the [[National Flood Insurance Program]] (NFIP), $3 billion in "insured windstorm and other storm-related property losses"; and about $4.75 billion in insured flood losses of private and commercial vehicles.<ref>{{cite news|url=http://www.insurancejournal.com/news/southcentral/2017/09/15/464484.htm|title=ICT Pegs Hurricane Harvey Insured Losses at $19B|work=Insurance Journal|date=September 15, 2017|access-date=September 15, 2017|archive-url=https://web.archive.org/web/20170915185711/http://www.insurancejournal.com/news/southcentral/2017/09/15/464484.htm|archive-date=September 15, 2017|url-status=live}}</ref> By January 1, 2018, payouts from the NFIP reached $7.6 billion against total estimated losses of $8.5–9.5 billion.<ref>{{cite news|author=Andrew G. Simpson|newspaper=Insurance Journal|date=January 8, 2018|access-date=January 29, 2018|title=FEMA Expands Flood Reinsurance Program with Private Reinsurers for 2018|url=https://www.insurancejournal.com/news/national/2018/01/08/476500.htm|archive-url=https://web.archive.org/web/20180130091323/https://www.insurancejournal.com/news/national/2018/01/08/476500.htm|archive-date=January 30, 2018|url-status=live}}</ref> Economists Michael Hicks and Mark Burton at [[Ball State University]] estimated damage in the Houston metropolitan area alone at $198.63 billion.<ref>{{cite report|author=Michael Hicks and Mark Burton|publisher=Ball State University|date=September 8, 2017|access-date=November 1, 2017|title=Hurricane Harvey: Preliminary Estimates of Commercial and Public Sector Damages on the Houston Metropolitan Area|url=http://projects.cberdata.org/reports/HurricaneHarvey2017.pdf|archive-url=https://web.archive.org/web/20171107020820/http://projects.cberdata.org/reports/HurricaneHarvey2017.pdf|archive-date=November 7, 2017|url-status=live}}</ref> Preliminary reporting from the National Oceanic and Atmospheric Administration set a more concrete total at $125 billion, making Harvey the 2nd costliest tropical cyclone on record, behind [[Hurricane Katrina]] with 2017 costs of $161 billion (after adjusting for inflation).<ref name="NOAAbillion" /> A significant portion of the storm's damages are uninsured losses. Regular homeowner insurance policies generally exclude coverage for flooding, as the NFIP underwrites most flood insurance policies in the US.<ref name="NYT: NFIP"/><ref name="CNN: Lack of flood insurance">{{cite news|author=Chris Isidore|title=Most homes in Tropical Storm Harvey's path don't have flood insurance|url=https://money.cnn.com/2017/08/25/news/economy/hurricane-harvey-flood-insurance/index.html?iid=EL|access-date=August 30, 2017|publisher=CNN|date=August 26, 2017|archive-url=https://web.archive.org/web/20170830103417/http://money.cnn.com/2017/08/25/news/economy/hurricane-harvey-flood-insurance/index.html?iid=EL|archive-date=August 30, 2017|url-status=live}}</ref> Although the purchase of flood insurance is obligatory for federally guaranteed mortgages for homes within the [[100-year flood|100-year flood plain]], enforcement of the requirement is difficult and many homes, even within the 100-year flood plain, lack flood insurance.<ref name="NYT: NFIP"/> In [[Harris County, Texas]]—which includes the city of Houston—only 15% of homes have flood insurance policies issued by the NFIP. Participation in the NFIP is higher, but still low, in neighboring [[Galveston County, Texas|Galveston]] (41%), [[Brazoria County, Texas|Brazoria]] (26%), and [[Chambers County, Texas|Chambers Counties]] (21%).<ref name="NYT: NFIP">{{cite news|author=Mary Williams Walsh|title=Homeowners (and Taxpayers) Face Billions in Losses From Harvey Flooding|url=https://www.nytimes.com/2017/08/28/business/dealbook/flood-insurance-harvey.html?mcubz=3|access-date=August 30, 2017|work=The New York Times|date=August 28, 2017|archive-url=https://web.archive.org/web/20170830105210/https://www.nytimes.com/2017/08/28/business/dealbook/flood-insurance-harvey.html?mcubz=3|archive-date=August 30, 2017|url-status=live}}</ref> Homeowners sued authorities after reservoir releases damaged homes.<!--denied after Katrina--><ref>{{cite news |url=https://www.reuters.com/article/us-storm-harvey-lawsuits/harvey-storm-water-releases-were-unlawful-government-takings-lawsuits-idUSKCN1BO0DS |title=Harvey storm-water releases were unlawful government takings: lawsuits |first=Bryan |last=Sims |date=September 13, 2017 |access-date=September 13, 2017 |newspaper=Reuters |archive-url=https://web.archive.org/web/20170913063152/http://www.reuters.com/article/us-storm-harvey-lawsuits/harvey-storm-water-releases-were-unlawful-government-takings-lawsuits-idUSKCN1BO0DS |archive-date=September 13, 2017 |url-status=live }}</ref> Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. 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