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The Wall Street Publication > Blog > Economy > These are the costliest hurricanes in US historical past
Economy

These are the costliest hurricanes in US historical past

Editorial Board Published October 11, 2024
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These are the costliest hurricanes in US historical past
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Bradenton, Florida, Police Chief Melanie Bevan discusses the injury brought on by Hurricane Milton on Cavuto: Coast to Coast.

Hurricane season is in full pressure, with the U.S. coping with the aftermath of a pair of damaging and lethal hurricanes in fast succession.

The southeastern U.S. has been hit by back-to-back hurricanes in latest weeks, with Hurricane Helene bringing devastating flooding to elements of North Carolina and Tennessee two weeks in the past, whereas Hurricane Milton spawned a variety of damaging tornadoes at the same time as Florida’s Gulf Coast was spared the worst of its storm surge when it made landfall Wednesday.

The financial toll of these two hurricanes continues to be being tabulated as insurance coverage claims are available in amid the cleanup whereas companies and colleges return to regular operations.

Whereas the 2024 hurricane season’s storms so far have introduced each a human and financial toll to impacted areas, they thankfully have not ranked among the many costliest hurricanes in U.S. historical past. This is a have a look at the most economically expensive hurricanes in U.S. historical past.

On this aerial view, flood waters inundate a neighborhood after Hurricane Milton got here ashore on October 10, 2024, in Punta Gorda, Florida. (Joe Raedle/Getty Pictures / Getty Pictures)

HURRICANE HELENE CAUSED BETWEEN $8B AND $14B IN PRIVATE INSURED LOSSES: MOODY’S

#5 – Hurricane Harvey

Hurricane Harvey struck the southern and japanese U.S., significantly Texas and Louisiana, in 2017. It introduced catastrophic flooding brought on by rainfall within the Houston metro space and stays the wettest tropical cyclone the U.S. has skilled.

Hurricane Harvey

Folks stroll down a flooded avenue as they evacuate their houses after the realm was inundated with flooding from Hurricane Harvey on August 28, 2017, in Houston, Texas. (Picture by Joe Raedle/Getty Pictures / Getty Pictures)

It inflicted injury amounting to roughly $30 billion in insured injury primarily based on 2017 {dollars} (or $37.6 billion in 2023 {dollars}), in accordance with a report by the Insurance coverage Data Institute (III) citing Aon knowledge.

#4 – Hurricane Sandy

Hurricane Sandy impacted your complete Atlantic Coast and 24 states, together with these close to the Nice Lakes, when it hit in 2012, and introduced extreme flooding and storm surge to New York and New Jersey.

Hurricane Sandy

Waves break in entrance of a destroyed amusement park wrecked by Hurricane Sandy on October 31, 2012, in Seaside Heights, New Jersey. (Picture by Mario Tama/Getty Pictures / Getty Pictures)

Sandy precipitated about $30 billion in insured injury when utilizing 2012 {dollars}, or $39.9 billion in 2023 {dollars}, per the III report.

SAFETY TIPS FOR USING PORTABLE GENERATORS

#3 – Hurricane Ida

Hurricane Ida made landfall in Louisiana in 2021 as one of many strongest storms to ever hit the state. It went on to convey tornadoes and catastrophic flooding because it made its manner from the Gulf Coast inland in direction of the Northeast.

Hurricane Ida

Palm bushes sway throughout Hurricane Ida in New Orleans, Louisiana, U.S., on Sunday, Aug. 29, 2021. (Photographer: Luke Sharrett/Bloomberg through Getty Pictures / Getty Pictures)

Ida precipitated $36 billion in injury primarily based on 2021 {dollars}, or about $40.5 billion when utilizing 2023 {dollars}, in accordance with the III report.

#2 – Hurricane Ian

Hurricane Ian struck Florida in 2022 and was the state’s deadliest for the reason that 1935 Labor Day hurricane. The storm went on to inflict extra injury within the Carolinas and Virginia.

Hurricane Ian

Boats are left stranded on the shore within the aftermath of Hurricane Ian in Fort Myers, Florida, on September 29, 2022. (Picture by GIORGIO VIERA/AFP through Getty Pictures / Getty Pictures)

Ian inflicted $54 billion in insured losses primarily based on 2022 {dollars}, or practically $55.8 billion in 2023 {dollars}, primarily based on the evaluation by Aon and III.

O’LEARY DISMISSES CONCERNS OVER FLORIDA HURRICANES’ IMPACT ON BOOMING REAL ESTATE

#1 – Hurricane Katrina

Hurricane Katrina hit the Gulf Coast in 2005 and precipitated devastating flooding in New Orleans after town’s flood safety system failed. The storm precipitated 1,392 fatalities, in accordance with the Nationwide Hurricane Heart.

Hurricane Katrina

Flood waters from Hurricane Katrina cowl streets in New Orleans, Louisiana, on August 30, 2005. (Picture by POOL/POOL/AFP through Getty Pictures / Getty Pictures)

Katrina precipitated $65 billion in insured losses in 2005 {dollars}, or about $101.9 billion in injury primarily based on 2023 {dollars}, in accordance with III and Aon.

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