AccuWeather Increases Estimate of Helene’s Economic Loss to $225B-$250B

AccuWeather has increased its estimate of the total damage and economic loss from Hurricane Helene in the U.S. to between $225 billion and $250 billion.

The range makes Hurricane Helene one of the most damaging and impactful storms in U.S. history, AccuWeather said. By far, Helene is the costliest storm of the 2024 hurricane season thus far, in terms of economic losses.

The update accounts for new verified information, including the loss of life, the immediate and long-term costs of healthcare for storm survivors and injured first responders, extended power outages, infrastructure reconstruction projects for utilities, highways, bridges and railroad tracks, major business and travel disruptions, as well as long-term losses to tourism, technology, renewable energy and other industries across the southern Appalachians and southeastern U.S., according to AccuWeather.

Modeling and analytics firm Karen Clark & Co. on Wednesday said privately insured losses from Hurricane Helene will be about $6.4 billion from wind, storm surge and inland flooding in nine states.

Previous disasters suggest that even 10 years after such a damaging storm, rebuilding and recovery efforts may still be ongoing in some places. Residents and businesses in impacted areas “will need considerable support and assistance in the coming years,” while long-term impacts from flooding could also contribute to health conditions due to exposure to mold, mildew, contaminated flood waters and other hazards, AccuWeather added.

AccuWeather’s estimate also includes the projected costs of repairing or rebuilding infrastructure, including power substations and water treatment plants that were destroyed. The electric grid in some places no longer exists.

The updated estimate also includes new reports on damage, loss and disruptions caused by storm surge, flooding rainfall and wind damage in Florida and Georgia. There were also millions of dollars of losses to agriculture, including cotton, peanuts, pecans, tobacco and others from the storm.

AccuWeather issued its previously released a preliminary estimate of between $95 billion and $210 billion from Helene, and then updated the range to between $145 billion and $160 billion.

Photo: An uprooted tree in front of a home after Hurricane Helene in Glen Alpine, N.C. (AP Photo/Kathy Kmonicek)