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s Hurricane Milton bears down on Tampa Bay, residents are still reeling from the devastation caused by Hurricane Helene just two weeks ago. Both storms could result in damage exceeding $200 billion, with insurance companies likely to raise premiums or exit the state altogether due to increased claims.

    Hurricane Helene made landfall as a Category 4 storm near Perry on September 26, causing widespread destruction and flooding along the Gulf Coast. The estimated wind and flood damage totals between $30.5 billion and $47.5 billion, with insured losses ranging from $10.5 billion to $17.5 billion. However, many homeowners in flood-prone areas lack coverage, as fewer than one in 100 have purchased flood insurance.

    The situation is further complicated by the rapid development of residential properties on floodplains in Florida over the past two decades. This has led to increased flood damage and a higher risk for insurers. As crews work to clean up debris from Helene ahead of Milton's arrival, residents are bracing for another potentially catastrophic storm.

    Milton, which was a Category 5 storm with winds of 165 miles per hour on Tuesday, is expected to hit Florida's west coast late Wednesday as a Category 3 storm with sustained tropical storm force winds. The region could experience heavy rainfall, flooding, and storm surge flooding, putting over half a million homes at risk in the Tampa Bay and Sarasota metro areas.

    Tampa Mayor Jane Castor has urged residents in evacuation areas to leave, warning that those who stay will be putting their lives at risk. With estimated losses ranging from $175 billion to $245 billion, depending on the storm's trajectory, the impact of Hurricane Milton could be devastating for the region.