Top 10 Costliest Catastrophes in the United States
Today's blog focuses on the most damaging catastrophes in U.S. history based on insurance losses. To no surprise, major hurricanes dominate the list. The good news is that we can start preparing now for hurricanes and flooding to help reduce the number of damages caused by these types of events in the future. Keep reading to learn more!
According to the Insurance Information Institute, the following list of catastrophes features the most costly in U.S. history. Their data, however, does not account for those flood damages covered by the federally administered National Flood Insurance Program. Therefore, the damages are actually much higher. Some flood damage information from the National Flood Insurance Program is provided below as well.
In September 2008, Hurricane Ike caused $12,500 million in estimated insured property losses, not including flood insurance losses. According to the National Flood Insurance Program, Hurricane Ike caused 46,664 paid losses incurring $2,697 million in payouts. The average paid loss during this event was $57,798.
The majority of these catastrophes are hurricanes. We haven't seen a major hurricane hit the U.S. in quite some time now, meaning we are overdue. Now is the time to prepare for those unexpected weather events. Be sure your community has a flood mitigation plan in place, that you have up-to-date flood insurance coverage and you know the evacuation routes for your area. In regards to flood mitigation, Big Bags USA® is here to help! Our flood barrier systems are superior to traditional sandbags in a variety of ways, and can save you time, money and labor. Learn more by visiting our website at www.BigBagsUSA.com or giving us a call at 1-800-337-0537.
Costliest Catastrophes in U.S. History
According to the Insurance Information Institute, the following list of catastrophes features the most costly in U.S. history. Their data, however, does not account for those flood damages covered by the federally administered National Flood Insurance Program. Therefore, the damages are actually much higher. Some flood damage information from the National Flood Insurance Program is provided below as well.
1. Hurricane Katrina
In August 2005, Hurricane Katrina caused $41,100 million in estimated insured property losses, not including flood insurance losses. According to the National Flood Insurance Program, Hurricane Katrina caused 167,984 paid losses incurring $16,318 million in payouts. The average paid loss during this event was $97,141.2. Terrorist Attack on World Trade Center & Pentagon
In September 2001, the fire and explosion caused by terrorists in New York City caused $18,779 million in estimated insured property losses. This was the second costliest catastrophe in U.S. history. It's crazy to think that a hurricane did more damage than a terrorist attack - which also goes to show how important hurricane preparedness can be to minimize those damages.3. Hurricane Andrew
In August 1992, Hurricane Andrew caused $15,500 million in estimated insured property losses, not including flood insurance losses. Hurricane Andrew did not make it on the Top 10 Most Significant Flood Events list produced by the National Flood Insurance Program.4. Hurricane Sandy
In October 2012, Hurricane Sandy caused $18,750 million in estimated insured property losses, not including flood insurance losses. According to the National Flood Insurance Program, Superstorm Sandy caused 130,622 paid losses incurring $8,403 million in payouts. The average paid loss during this event was $64,331.5. Northridge, California Earthquake
In January 1994, the earthquake in Northridge, California caused $12,500 million in estimated insured property losses. As you can see, earthquakes can also cause a lot of damage, but are much less prevalent than hurricanes. Also, while some earthquakes can cause dams and levees to fail, resulting in flooding, the flood losses for an earthquake are going to be much less than with a hurricane. Again, this shows the importance of hurricane and flood preparation.
6. Hurricane Ike
In September 2008, Hurricane Ike caused $12,500 million in estimated insured property losses, not including flood insurance losses. According to the National Flood Insurance Program, Hurricane Ike caused 46,664 paid losses incurring $2,697 million in payouts. The average paid loss during this event was $57,798. 
7. Hurricane Wilma
In October 2005, Hurricane Wilma caused $10,300 million in estimated insured property losses, not including flood insurance losses. Hurricane Wilma did not make it on the Top 10 Most Significant Flood Events list produced by the National Flood Insurance Program.8. Hurricane Charley
In August 2004, Hurricane Charley caused $7,475 million in estimated insured property losses, not including flood insurance losses. Hurricane Charley did not make it on the Top 10 Most Significant Flood Events list produced by the National Flood Insurance Program.9. Hurricane Ivan
In September 2004, Hurricane Ivan caused $7,110 million in estimated insured property losses, not including flood insurance losses. According to the National Flood Insurance Program, Hurricane Ivan caused 28,297 paid losses incurring $1,612 million in payouts. The average paid loss during this event was $56,974.10. Tuscaloosa Flooding and Tornadoes
In April 2011, the flooding, hail and wind including the tornadoes that struck Tuscaloosa and other locations caused $7,300 million in estimated insured property losses, not including flood insurance losses.The majority of these catastrophes are hurricanes. We haven't seen a major hurricane hit the U.S. in quite some time now, meaning we are overdue. Now is the time to prepare for those unexpected weather events. Be sure your community has a flood mitigation plan in place, that you have up-to-date flood insurance coverage and you know the evacuation routes for your area. In regards to flood mitigation, Big Bags USA® is here to help! Our flood barrier systems are superior to traditional sandbags in a variety of ways, and can save you time, money and labor. Learn more by visiting our website at www.BigBagsUSA.com or giving us a call at 1-800-337-0537.
MADE IN THE USA ~ 100% Manufactured in Missouri ~ BUY AMERICAN
If you have an immediate need for our systems, or have any questions for us, please call us toll free at 1-800-337-0537 or visit www.BigBagsUSA.com.
MADE IN THE USA ~ 100% Manufactured in Missouri ~ BUY AMERICAN
.png)
Comments
Post a Comment