11-03-2005, 07:47 AM
NEW ORLEANS, LA[font "Arial, Helvetica, sans-serif"][size 2]—[/size][/font]The BoatU.S. Foundation announced last week that it estimates that damage to recreational vessels as a result of Hurricane Katrina is now $650-$750 million. Of that amount, BoatU.S. says approximately half, $300-$400 million, was covered by insurance. BoatU.S. says Katrina's losses far surpass last year's four-hurricane total of approximately $330 million in damages, as well as the $500 million in losses attributed to 1992's Hurricane Andrew, which until now was believed to be the single most costly natural disaster to effect recreational boating. Katrina also destroyed an estimated 75 percent of the marinas along 150 miles of the Gulf Coast.
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