Hurricane Helene, which battered the Southeast, has left behind an estimated $6.4 billion in insured losses, according to a report from catastrophe modeling firm Karen Clark & Company (KCC).
The total spans damages from wind, storm surge and inland flooding across multiple states.
The Category 4 hurricane, which made landfall Sept. 26 in Florida’s Big Bend region, unleashed winds of up to 140 miles per hour. Beyond its initial impact, Helene wreaked havoc as far north as Ohio, causing widespread catastrophic flooding, claiming more than 200 lives and leaving millions without electricity.
The highest toll from the hurricane occurred well beyond the landfall point, with more significant wind damage reported in Georgia than Florida and severe flooding devastation in North Carolina.
Insurance giants State Farm General Insurance Co. and Citizens Property Insurance Corp., two of the largest insurers in the Southeast, are facing monumental claims, having received more than 60,000 combined in the wake of Helene. This figure reflects only a fraction of the broader economic destruction, as insured losses typically exclude flood damage, a consequence not covered under standard property policies and often insured separately through entities like the National Flood Insurance Program.
Georgia and South Carolina residents, who generally carry less flood coverage compared to those in frequently storm-hit Florida, may face considerable uninsured losses. According to another estimate by AccuWeather Inc., the total economic impact of Hurricane Helene could reach as high as $160 billion. This figure includes broader economic repercussions such as lost wages, canceled flights and supply chain disruptions, positioning Helene among the top five costliest storms in U.S. history.
More Than 670 Vehicles Destroyed at Florida Dealership
At Ken Ganley Kia New Port Richey in Florida, 672 vehicles were completely destroyed by the storm.
The vehicles suffered a variety of damages; many were submerged under 4 feet of water, some caught fire, while others had airbags that deployed autonomously.
The destroyed inventory included 660 new and used vehicles and 12 customer cars that were in for servicing. The total estimated loss ranges between $28 million to $30 million. Additionally, the owner, Ken Ganley, will face about $3.5 million in insurance deductibles due to the damages.
Kia has already dispatched 15 new vehicles to the dealership, with another 300 to 400 expected soon. The Ken Ganley Automotive Group, which ranks as the 14th largest dealership group in the U.S., plans to send approximately 100 used vehicles from its Ohio locations to replenish the Florida site's inventory.
Automakers Announce Assistance for Hurricane Victims
Honda has donated $500,000 to the American Red Cross to support communities affected by Hurricane Helene. The funds will assist in immediate disaster recovery efforts across the impacted region, which includes areas where Honda has manufacturing operations.
Honda is encouraging its employees to get involved by offering matching donations up to $1,000 per eligible associate contribution. The company is also providing $200 grants to eligible organizations where Honda associates volunteer their time.
In addition to financial aid, North Carolina-based Honda Aircraft is deploying its HondaJet to transport much-needed humanitarian relief to areas hardest hit by the storm.
Honda and Acura Financial Services are extending support to their customers through payment extensions and lease deferrals. This assistance is aimed at providing financial relief to those struggling in the wake of the hurricane’s destruction.
Toyota Motor North America, in partnership with Toyota Financial Services, is also matching employee donations to the American Red Cross and other nonprofits, and offering payment relief options to customers in disaster-stricken areas.
Affected lease and finance customers residing in designated disaster areas may benefit from extensions and deferred lease payments, redirected billing statements, and flexible phone or online payment arrangements.
Customers can contact Toyota Financial Services at 800-874-8822 or Lexus Financial Services at 800-874-7050.
Hurricane Halts Critical Quartz Mines, Threatens Global Chip Supply Chain
In the wake of Hurricane Helene in North Carolina, operations have been halted at two of the world’s most important quartz mines, threatening a ripple effect across the global semiconductor industry. The two mines, located in Spruce Pine, nestled in the Blue Ridge Mountains, produce the world’s purest quartz, a key material in semiconductor chips, solar panels and advanced technology.
Operations at the mines, managed separately by Sibelco and The Quartz Corp, were suspended Sept. 26, just ahead of the storm. The facilities have been significantly impacted by flooding, road closures and power outages. As of now, it’s unclear when they will reopen, raising concerns about chip shortages. Supply chain experts said it could take weeks.
The mines produce an estimated 80-90% of the world’s high-purity quartz. Though some manufacturers have stockpiles of quartz, long-term shutdowns of the mines could lead to a repeat of the 2021 global chip shortage, which caused delays in the automotive and tech industries.
