America's cost of natural disaster surpasses $25 BILLION (2024)

A surge in natural disasters this year has already cost the US more than $25 billion in damages brought on by wildfires, tornadoes, pineapple-sized hail and flooding.

The National Oceanic Atmospheric Administration (NOAA) has revealed there have been11 climate and weather disasters in 2024, each costing over $1 billion each, which have resulted in84 fatalities

'2024 is in second place tied with 2017 and 2020 for the highest count of billion-dollar events (inflation-adjusted) during the first five months of a year,' NOAA applied climatologist and economist Adam Smith told DailyMail.com.

However, because the report only covers events up to mid-May, Smith said the remaining month's data could boost it to second place alone.

NOAA's warning comes as the agency warned last month that the US will experience an 'extraordinary' hurricane season in the months to come.

The US has been struck by 11 disasters which came at a loss of at least $1 billion each, amounting to more than $25 billion

Natural disaster statistics have revealed that severe storms and tornadoes are occurring with more frequency and more intensity due to climate change. Pictured: Coastal flooding in Hampton, New Hampshire in January

This year 'is in the top eight of 45 years in terms of cost, but this ranking will increase next month once we complete our full May event analysis,' Smith said, adding that NOAA is 'still assessing several costly hail events that occurred during the second half of May.'

Natural disaster statistics have revealed that severe storms and tornadoes are occurring with more frequency and intensity due to climate change.

Read More REVEALED: The US has suffered a record 23 billion-dollar climate disasters so far this year costing an eye-watering $57.6 BILLION - as tornadoes, wildfires and flooding ravaged the nation

NOAA also reported that tornadoes contributed to a large portion of May's damages, impacting 23 states extending from South Dakota to Florida which experienced at least one tornado during that time.

This included the EF-4 tornado that demolished parts of Oklahoma, killing one person and a second EF-4 that killed five people in Greenfield, Iowa - making it the deadliest tornado to strike the US this year.

Smith said that 2024 has also reached second place for the most tornadoes IN [reported across] the nation from January through May in the last 15 years.

The first powerful tornado of the season moved across the southeastern area of the US, bringing 130-mile-per-hour winds, injuring two people and killing eight.

Meanwhile,dangerous storms have swept across the nation this year, bringing record-breaking baseball-sized hail to Houston, Texas in February - the largest seen in 35 years - and a total of 450 tornadoes that struck the Midwest in March and April.

People have also encountered extensive flooding in New Hampshirethat has led to severe damage of public property and the loss of seven lives.

Additional problems of wildfires like the one that occurred in Roswell, Michigan in April have spread rampantly across the country.

NOAA reported that this May experienced the second most active month for severe weather in 20 years as 23 states extending from South Dakota to Florida experienced at least one tornado during that time. Pictured: Damage caused by a tornado that swept through Portage, Michigan in May

Eastern Texas experienced extreme hail measuring five inches in diameter that shattered car windshields (pictured)

Last month, NOAA officials projected the US could experience up to seven Category 3 or higher hurricanes with wind speeds reaching 111 miles per hour - the highest-ever outlook given by the agency.

The predictions are based on the development of La Niña, a weather system that occurs when equatorial trade winds strengthen and cause ocean currents to change, and much warmer than usual in the main hurricane development region.

This year has not exceeded 2023's statistics, which saw 13 billion-dollar harsh weather events from January through June, and a total of 23 natural disasters that cost $92.9 billion in total damages for the year.

Since records began 130 years ago, the US has suffered a whopping 387 separate weather and climate disasters where overall damages exceed $1 billion each, costing more than $2.7 trillion, according to NOAA.

The Environmental Protection Agency (EPA)reported that climate change is leading to an increase in storms that cause heavier downpours and extreme flooding 'that can overwhelm or damage water infrastructure.'

Texas was also hit by hail that was roughly the size of a pineapple (pictured)

Since records began, the US has suffered a whopping 387 separate weather and climate disasters where overall damages exceed $1 billion each, costing more than $2.7 trillion. Pictured: Wildfire that swept across Roswell, Michigan in April

'Hurricane intensity is also projected to increase as the climate continues to warm,' the agency said, adding: 'although the magnitude of this change is uncertain.'

Since the 1980s, the number of natural disasters has drastically increased, with the NOAA reporting an average of three weather-related events per year - but that number jumped to six times that amount in 2011.

The 18 events in 2011 cost $69.7 billion in damages and 765 deaths compared to two events totaling $1 billion in damages - which is $3.3 billion today - and just 20 deaths in 1981.

'Exposure plus vulnerability plus climate change is supercharging more of these into billion-dollar disasters,' Smith told The Guardian last year.

'But there are things we can do to reverse the trend,' Stanford University climate scientist Chris Field added.

'If we want to reduce the damages from severe weather, we need to accelerate progress on both stopping climate change and building resilience.'

America's cost of natural disaster surpasses $25 BILLION (2024)

FAQs

America's cost of natural disaster surpasses $25 BILLION? ›

Those costs add to the over $25 billion in damages and 84 fatalities from the 11 climate and weather disasters in 2024, including tornadoes, winter storms and severe weather. Other notable weather events that happened in May include hurricane-force winds, baseball-sized hail and heavy rainfall.

How many billion dollar disasters calculating the costs? ›

Since 1980, the U.S. has sustained at least 391 weather and climate disasters where overall damages/costs reached or exceeded $1 billion (including Consumer Price Index adjustment to 2024). The total cost of these 391 events exceeds $2.7 trillion.

Is the cost of natural disasters increasing? ›

From 1980-2000, about 75% of all disaster-related costs were due to billion-dollar disasters, and by 2010, the percentage had risen to about 80%. By 2023, it has risen to >85% of all disaster-related costs, or $2.660 trillion out of $3.050 trillion.

Can the cost of the damage of one hurricane exceed $1 billion? ›

The costliest 2022 events were Hurricane Ian ($112.9 billion) and the Western and Central Drought / Heat Wave ($22.1 billion). Adding the 2022 events to the record that began in 1980, the U.S. has sustained 341 weather and climate disasters with the overall damage costs reaching or exceeding $1 billion.

What is the most costly natural disaster in US history? ›

For all United States hurricanes, Hurricane Katrina (2005, $200.0B*) is the costliest storm on record.

How much does the US spend on natural disasters? ›

Overview. The U.S. has sustained 391 weather and climate disasters since 1980 where overall damages/costs reached or exceeded $1 billion (including CPI adjustment to 2024). The total cost of these 391 events exceeds $2.755 trillion.

What was the worst tragedy in US history? ›

The tropical cyclone that racked Galveston, Texas, was the deadliest natural disaster in US history, taking the lives of an estimated 12,000 people on September 18th, 1900. The category 4 hurricane had winds blowing upwards of 145 mph, killing 1 in 6 residents and utterly destroying 3,600 homes.

What was the costliest hurricane in US history? ›

1. Katrina, 2005, $195 billion. By far the costliest hurricane in U.S. history, Katrina made landfall Aug. 25, 2005, as a Category 1 storm near the Dade-Broward County line in Florida.

How much did the damage cost from Hurricane Katrina? ›

The economic cost of Hurricane Katrina's damage was estimated to be approximately $125 billion, making it one of the costliest natural disasters in U.S. history.

What was the deadliest hurricane in US history? ›

The Galveston Hurricane of August 1900 was the deadliest hurricane in United States history, according to NOAA, causing tremendous destruction and loss of life. An estimated 8,000 to 12,000 people died in the storm, making it the deadliest natural disaster in U.S. history.

What was the #1 natural disaster? ›

Ten deadliest natural disasters by highest estimated death toll excluding epidemics and famines
Death toll (Highest estimate)EventDate
4,000,0001931 China floodsJuly 1931
2,000,0001887 Yellow River floodSeptember 1887
655,0001976 Tangshan earthquakeJuly 28, 1976
500,0001970 Bhola cycloneNovember 13, 1970
6 more rows

How much of the city of New Orleans was underwater due to the storm surge of Hurricane Katrina? ›

New Orleans experienced wind gusts of up to 100 miles per hour and extensive flooding after levees in the city were breached by flood waters. By August 31, 2005, 80% of the city of New Orleans was underwater.

What is the rarest natural disaster in history? ›

A limnic eruption, also known as a lake overturn, is a very rare type of natural disaster in which dissolved carbon dioxide (CO 2) suddenly erupts from deep lake waters, forming a gas cloud capable of asphyxiating wildlife, livestock, and humans.

How many billion dollars of damage does fire cost every year? ›

Over the 2017 – 2021 period, we estimate that average annual losses totaled over $117.4 billion. Of this amount, an estimated $5.0 billion annually was incurred as a fiscal loss by the State of California attributable to reduced tax revenues and increased wildfire response costs.

What is the estimated total cost US$ billion of damages in the United States from Hurricane Isaac? ›

Maximum sustained winds up to 75 knots were recorded during this Hurricane in the United States. There was a total of 5 fatalities in the United States with about $2.35 billion property damage [NOAA, 2013]1.

How much money has been lost due to natural disasters? ›

The estimated economic loss of natural disasters worldwide was 380 billion U.S. dollars, while the estimated insured loss amounted to 118 billion U.S. dollars. Where did the most costly natural disaster occur?

How much do climate related disasters cost? ›

The global cost of climate change damage is estimated to be between $1.7 trillion and $3.1 trillion per year by 2050. This includes the cost of damage to infrastructure, property, agriculture, and human health.

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