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Nashville flooding damage estimates are inPosted On Tue, May 11, 2010
The devastating flooding in Nashville, Tennessee is estimated to have caused $1.5 billion in damage, Insurance Journal reported.
However, the estimate is expected to rise because inspections haven't been completed in all flood areas yet, according to Insurance Journal. Damages have only been checked for certain real estate properties, and officials still need to look at bridges and public roads.
There have been 23 deaths statewide as a result of the flooding, and close to 18,000 of Tennessee's residents have applied for individual assistance aid from FEMA, according to the Tennessee Emergency Management Agency. Out of the 14,000 official inspections scheduled, only 4,400 have been completed thus far. Tennesseans needing home repairs and temporary housing, among other needs, have been allocated more than $28 million through state disaster programs and FEMA.
The National Flood Insurance Program was recently reinstated and given an extended deadline until the end of this month. The majority of homeowners in the U.S. receive their flood insurance through NFIP. While the NFIP was shut down, close to 1,400 homeowners were unable to purchase flood insurance.
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