Story at a glance
- Hurricane Ida made landfall last weekend, and may cost billions in damages.
- It is far from the most expensive hurricane in the U.S., with Hurricane Katrina costing $170 billion.
New industry estimates suggest that damage from Hurricane Ida will cost roughly $18 billion across affected U.S. states and the Caribbean, Reuters reports from estimated company Karen Clark & Co.
This is reportedly a conservative estimate.
Hurricane Ida made landfall over the weekend, bringing heavy rains, flooding and gusty winds. It slammed Louisiana the hardest, leaving destruction and flash floods in its wake. Millions in the state are still without power.
The costs of Ida still pale in comparison to previous hurricanes, such as Hurricane Katrina, which cost $170 billion in 2005, and Harvey, which struck in 2017 and cost the U.S. $131.3 billion.
This estimation follows reports that severe weather and other natural disasters, such as hurricanes, could continue costing the U.S. and other countries, mainly due to anthropomorphic climate change.