Natural disasters have cost the US over $1.79T since 1980

Hurricane Laura struck the Louisiana and Texas border early August 27 with sustained winds of up to 75 miles per hour. Wildfires continue in California, covering over 1.3 million acres of land. Natural disasters are dangerous, but they are also expensive — leaving damaged homes, businesses, and communities in their wake. The total estimated cost of major disasters in the past 40 years would be enough to fund Social Security for about a year and a half or replace individual income taxes for a year. This current disaster season is part of a larger upward trend, suggesting that natural disasters are increasing in both frequency and price tag.

How much does a natural disaster cost?