The Five Most Expensive Natural Disasters in U.S. History

Hurricane Ian has torn its way across Florida leaving a trail of destruction that is expected to cost tens of billions to repair the extensive damage, sparking fears around an already strapped Florida insurance market.

The nation's most intense natural disasters have had death tolls in the thousands causing tens of billions of dollars in destruction, with large portions of it not covered by insurance.

CoreLogic, a leading property information provider, has estimated the cost for repairs in the state after the Category 4 storm could reach $47 billion, making it one of the most expensive natural disasters in U.S. history.

Since 1980, the U.S. has sustained 332 weather and climate disasters where overall damages or costs reached or exceeded $1 billion (adjusted for inflation to 2022 using the U.S. Consumer Price Index). These have caused over $2.275 trillion in damages in total, according to the National Oceanic and Atmospheric Administration (NOAA).

For the year 2022, as of July 11, the NOAA had recorded nine such weather/climate disaster events to have hit the U.S.—including eight storm-related and one drought. Since 1980, the annual average for such events stood at 7.7. For the 2017-2021 period, the annual average was 17.8.

"Extreme weather events that cause many disasters are becoming more frequent and more intense due to the climate crisis," said Barney Guiton, a spokesman for the U.k.-based Disasters Emergency Committee. "With that comes more damage when they hit populated places, which will increase costs. These events also often hit people's livelihoods, meaning people lose their ability to earn money and support themselves financially."

The following rankings were established based on data of estimated insured property losses provided by the Insurance Information Institute (III). The costs are in 2021 dollars.

The figures from the III include costs sustained by private insurers and select government-funded programs, such as the National Flood Insurance Program. The figures from the NOAA include total, direct costs (both insured and uninsured).

Top Five Most Expensive Natural Disasters in the U.S.

5. Hurricane Irma - $33 billion (in 2021 dollars)

Hurricane Irma hit Florida in the same month as Hurricane Maria in September 2017. It had weakened to a Category 4 storm when it made landfall in the Florida Keys, destroying 25 percent of the tropical islands' buildings and significantly damaging 65 percent, according to the NOAA.

According to the Centers for Disease Control and Prevention (CDC), 129 hurricane-related deaths were identified in Florida, Georgia, and North Carolina

4. Hurricane Harvey - $33.1 billion

Hurricane Harvey struck several states, including Alabama, Louisiana, Mississippi and Texas in August 2017.

The devastation was most severe across Houston and surrounding areas due to the extreme rainfall which caused massive flooding. "More than 30 inches of rainfall fell on 6.9 million people, while 1.25 million experienced over 45 inches and 11,000 had over 50 inches, based on 7-day rainfall totals ending August 31," said the NOAA.

At least 88 people, mostly in Texas, died as a result of Harvey, reported the NOAA.

3. Hurricane Sandy - $35.1 billion

Even though Sandy was no longer a hurricane when it hit Atlantic City, New Jersey, the storm swept across multiple states on the Eastern seaboard in October 2012, leaving widespread destruction.

Lower Manhattan was hard hit, as the Brooklyn-Battery Tunnel was completely flooded, while the New York Stock Exchange closed for two days in a row for the first time since 1988.

The CDC reported 117 deaths related to the storm.

2. Hurricane Ida - $36 billion

When Hurricane Ida struck Louisiana in August 2021, it was one of three hurricanes in recorded history to make landfall in Louisiana with 150mph winds, according to the NOAA.

Heavy damage was dealt to the energy infrastructure across southern Louisiana. This caused long power outages for millions of people.

The storm stretched up the country, with flash flooding severely impacting New York and New Jersey.

"As of September 9, 2021, the media reported 91 deaths caused by Hurricane Ida across nine states," said the CDC.

1. Hurricane Katrina - $89.6 billion

Katrina initially made landfall in Florida as a Category 1 hurricane before strengthening into a Category 5 storm in the Gulf of Mexico before making landfall in Louisiana in August 2005. The hurricane caused the deaths of more than 1,800 people, according to the National Weather Service.

The storm was only a Category 3 as it struck the Gulf Coast, bringing a storm surge that exceeded 20 feet, overtopping many levees and seawalls meant to protect the low-lying area.

Almost 80 percent of New Orleans was flooded, and with so many houses destroyed a large number of those who fled never came back. The city's population only recently returned to pre-storm levels, according to data provided by the U.N.'s Department of Economic and Social Affairs Population Division.