Hurricanes Helene and Milton Expected to Cost Over $50 Billion

Hurricanes Helene and Milton are projected to cause damages exceeding $50 billion, placing them among the costliest storms in U.S. history, similar to Hurricanes Katrina, Sandy, and Harvey. A staggering 95% of the damage from Helene is uninsured, exacerbating the financial burden on victims. Despite a general decline in storm-related deaths, Helene's impact was notable, and experts warn that damages from storms are increasing due to factors like climate change and rising rebuilding costs. John Dickson of Aon Edge Insurance Agency noted that today's storms retain significantly more energy than in the past, highlighting a troubling trend. The National Oceanic and Atmospheric Administration reports that 396 weather disasters causing at least $1 billion in damages have occurred over the last 45 years, with only eight hurricanes crossing the $50 billion threshold. Experts believe Helene and Milton are likely to join this exclusive group, marking a significant shift in the severity and economic impact of hurricanes.