The devastating hurricanes Helene and Milton caused such extensive destruction that the total damage is still being calculated. Experts predict that both storms will be classified among the most expensive in history, likely exceeding $50 billion in damages, similar to infamous storms like Katrina, Sandy, and Harvey.
What makes the situation worse is that most of the damage—more than 95% in Helene’s case—was not covered by insurance, leaving many victims facing severe financial hardship.
While storm-related deaths have generally declined over time, Helene was an exception. Nonetheless, storm damages continue to rise sharply. Experts attribute this trend to several factors: the increasing number of people building homes in high-risk areas, escalating rebuilding costs that outpace inflation, and the intensifying effects of human-caused climate change, which is making storms stronger and wetter.
“Today’s storms are vastly different from those of the past. These systems now retain significantly more energy than they used to,” said John Dickson, president of Aon Edge Insurance Agency, which focuses on flood coverage. He added, “The weather seems to be moving faster than we as a society are able to keep pace with.”
