Preliminary estimates say Hurricane Idalia could be the 9th costliest storm in Florida

Brandon Girod, Pensacola News Journal
·3 min read

Hurricane Idalia made landfall as a Category 3 storm Wednesday morning near Keaton Beach in Florida, bringing destructive winds, heavy rainfall, flooding and knocking power out for more than 450,000 customers in Florida and Georgia.

A preliminary estimate of the total damage and economic loss from Hurricane Idalia in the southeastern U.S. is $18-20 billion, according to AccuWeather. If those numbers hold up, Idalia could become the ninth costliest hurricane to impact Florida.

Estimates from risk analysts at UBS, a multinational investment banking company, believe average insured losses are closer to $9.36 billion with a 50% chance of losses of over $4.05 billion and a 10% chance of losses of $25.6 billion, Reuters reported.

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Hurricane Idalia will mark the 16th “individual weather and climate disasters” recorded in the U.S. with losses exceeding $1 billion, with $39.7B in total damages reported as of July of this year. That number does not include the cost to rebuild the town of Lahaina, an estimated $5.5 billion in damages after wildfires swept across the Hawaiian island of Maui in early August.

10 costliest Florida hurricanes

The National Oceanic and Atmospheric Administration keeps a running list of the costliest U.S. tropical cyclones, which is based on any cyclone that resulted in at least $1 billion in damage costs at the time they occurred. Another list is included to reflect the cost values based on the 2023 Consumer Price Index.

If AccuWeather’s preliminary estimate holds up, Hurricane Idalia will be the ninth costliest Florida hurricane on NOAA’s 60-storm list. If damage costs are closer to UBS’ estimate then it will be closer to the 13th, just above Hurricane Opal.

Here are the 10 costliest Florida hurricanes (with values based on the 2023 Consumer Price Index adjusted cost).

  1. Katrina (2005) — $125 billion ($193.8 billion)

    • Hurricane Katrina is included on this list on a technicality. Katrina first made landfall north of Miami as a Category 1 hurricane before moving west over the Florida Peninsula and making a second landfall in Mississippi after rapidly intensifying in the Gulf of Mexico.

  2. Ian (2022) — $111.8 billion ($115.2 billion)

  3. Irma (2017) — $50 billion ($62 billion)

  4. Andrew (1992) — $27 billion ($58.6 billion)

  5. Ivan (2004) — $20.5 billion ($33 billion)

  6. Michael (2018) — $25 billion ($30.2 billion)

  7. Wilma (2005) — $19 billion ($29.1 billion)

  8. Charley (2004) — $16 billion ($25.8 billion)

  9. Frances (2004) — $9.8 billion ($15.8 billion)

  10. Agnes (1972) — $2.1 billion ($15.4 billion)

10 costliest U.S. hurricanes

Here’s a look at the 10 costliest U.S. hurricanes with adjusted values.

  1. Katrina (2005) — $193.8B

  2. Harvey (2017) — $155B

  3. Ian (2022) — $115.2B

  4. Maria (2017) — $111.6B

  5. Sandy (2012) — $85.9B

  6. Ida (2021) — $82.4B

  7. Irma (2017) — $62B

  8. Andrew (1992) — $58.6B

  9. Ike (2008) — $41.7B

  10. Ivan (2004) — $33B

Follow the path of Idalia

This forecast track shows the most likely path of the center of the storm but does not illustrate the full width of the storm or its impacts.

This article originally appeared on Pensacola News Journal: Idalia damage estimate says storm could be 9th costliest in Florida