Hurricanes are serious business in more ways than one. Of course, the highest cost that is being paid is that of human life.  Yet something that is very often overlooked when talking about hurricanes is the cost that is levied upon the governmental agencies that direct the clean up procedures, the housing of affected residents, as well as the loss in tax revenues and other economical hardships the affected areas will experience. Here is the lowdown on the top five costliest hurricanes.

The costliest hurricane on record ever is without a doubt Hurricane Katrina. When this storm made landfall in Florida on August 25, 2005 it was initially anticipated that it would not gain too much strength as it continued its trip over land. Against the forecasts it did gain in strength and was upgraded to a category three hurricane on August 27th, yet residents of the areas that were to be affected next were certain that they could weather a category three storm without too much trouble.  It came as a surprise to many people involved when the storm was suddenly – within 24 hours – upgraded to a category five storm! Wind speeds were clocked at more than 175 miles per hour, and when all was said and done, the estimated damage – so far – has been about $81 billion.

Next on the list is Hurricane Andrew, which did most of its damage in Florida and Louisiana. It made landfall in Florida on August 24, 1992. At this point it was a category five hurricane, which gradually tapered down to a category three storm as it moved on to Louisiana. What added to the destructive force of this hurricane were the tornadoes that were found in the cloud patterns of the storm.  Destructive paths could be directly linked to these twisters as they suddenly began destroying everything in their paths. The final price tag is estimated to be somewhere between $26 and $32 billion.

Third on the list of the costliest hurricanes is Hurricane Wilma. This storm affected a number of foreign coastlines as well as the American Florida. It is estimated that the overall amount of damage done falls into the realm of about $29 billion, but since these estimates also include foreign countries, the numbers may well be higher. The first landfall occurred on October 21, 2005 but this storm did not hit the United States until October 24. It is estimated that more than 80% of Florida residents neglected to heed the mandatory evacuation orders, adding to the costs of the hurricane aftermath.

Hurricane Charley is next on the list of costly hurricanes. Its price tag is at an estimated $16 billion, which includes damages done to Florida, North and South Carolina, as well as Cuba, the Cayman Islands, and Jamaica. Most of the damage was in Florida, partially because that area had just been hit a day before by Tropical Storm Bonnie and was still trying to gets its bearing in the storm’s aftermath. Thus, when Charley arrived on August 13, 2004 Florida was already weakened.

Last but not least is Hurricane Ivan. It is said that the damage attributed to Ivan is about $20 billion, although many estimates run a lot lower than that.  What complicates matters is the fact that much of the damage done was in Venezuela, Jamaica, Grenada, and Cuba, and financial recording is not always accurate. This hurricane made landfall in the United States on September 16, 2004 in Alabama. At this time the storm had already significantly weakened.

It is important to remember that many of the costs associated with these storms is an estimate, especially since reporting from other countries at times is not as forthcoming or accurate as American reports.  Similarly, much of the damage is not seen and incurred until well into the aftermath of the storms.

 

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