Sandy made landfall near Atlantic City, New Jersey, on October 29, 2012, as a post-tropical cyclone. The storm caused an estimated $18.75 billion in insured property losses at the time ($19.3 billion in 2014 dollars), making it the third costliest natural disaster in U.S. history, exceeded only by hurricanes Katrina (2005) and Andrew (1992), according to ISO's Property Claim Services (PCS).
Nearly 1.6 million Sandy insurance claims were filed across a total of 15 states and in the District of Columbia. The most significant damage occurred in New Jersey and New York. While there were more personal claims from Sandy-1,129,000 versus 193,000 for commercial claims-insured losses were greater among commercial policyholders (e.g., business interruption) at $8.9 billion versus $7.1 billion for personal claims (e.g., property damage, additional living expenses). Auto claims (258,000) accounted for $2.7 billion in losses.
The $18.75 billion insured property loss figure excludes the insured flood losses covered by the federal government's National Flood Insurance Program (NFIP). The NFIP has to date paid out $7.94 billion in Sandy claims, a number that has been revised upward since the I.I.I. compiled its Sandy Fact File in October 2014.