In contrast to recent advances in projecting sea levels, estimations about the economic impact of sea level rise are vague. Nonetheless, they are of great importance for policy making with regard to adaptation and greenhouse-gas mitigation. Since the damage is mainly caused by extreme events, we propose a stochastic framework to estimate the monetary losses from coastal floods in a confined region. For this purpose, we follow a Peak-over-Threshold approach employing a Poisson point process and the Generalised Pareto Distribution.