Hurricane Ian’s economic toll

The storm is expected to have caused upwards of $67 billion in damage. ABC’s Andrea Fujii reports.
1:58 | 09/30/22

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Transcript for Hurricane Ian’s economic toll
ANDREA FUJII: This morning, as cleanup begins from Hurricane Ian so does the realization of how much it will take to rebuild. - We started to see the water coming through the windows. I would say it would take a few days to get everything cleaned. And I'm sure we're gonna lose merchandise. ANDREA FUJII: Ian, one of the most powerful hurricanes to make landfall in the US, is expected to have caused upwards of $67 billion in damage. A large number but less than half of Hurricane Katrina's price tag of $161 billion. - We floated on a bed all the way up to the ceiling. We only had a foot of air left. ANDREA FUJII: Hurricane Ian destroyed Haley's rental home in Fort Myers, about a mile from the Gulf. Our Ginger Zee caught up with her. - So I don't have a home. I don't have a car. And I don't have a job because I used to clean these units. So I'm-- - So you lost-- - I'm homeless and scared. ANDREA FUJII: A recent report found 60% of Florida residents do not have flood insurance. But help is on the way. - I approved the governor's most recent request for an expedited major disaster declaration. ANDREA FUJII: President Biden promising nearly $38,000 for people who don't have enough home insurance and another $38,000 for lost property. But for many, that may not be enough. More than 8,700 people already registering for help with FEMA. - It's important that those folks also have the ability to get assistance if they need it. ANDREA FUJII: And it's not just homes and businesses, Florida produces 70% of citrus, like oranges and grapefruit. So depending on the damage to crops, experts warn that fruit and juice prices may rise. Good news, economists do not expect the price of oil and gas to rise, as Florida is not an energy producer. As for insurance costs, Florida homeowners already pay the highest average premiums in the country. And experts expect that number to only go up because of Hurricane Ian. And with so many claims, some insurance companies may not be able to pay all of them out.

This transcript has been automatically generated and may not be 100% accurate.

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