Hurricane Matthew is increasingly likely to have significant impacts along the Southeast U.S. coast later this week, but its future effects along the Northeast seaboard remain uncertain.

As much as 70 percent of the expense will be tied to residential properties, and insurers will also pay claims related to business interruption and vehicle damage.

Insured losses from Hermine will likely approach $500 million, with total economic damages close to $1 billion, according to an early estimate from Karen Clark & Company.

Across Baton Rouge, one hard hit area, no more than 15 percent of all homes have flood insurance, and in the other hard-hit location, Lafayette, the rate is just 14 percent.