AccuWeather: California Storms Added $6-8B in Damage and Economic Loss

AccuWeather issued preliminarily estimates on Thursday showing the total damage and economic loss from the series of recent intense storms to hit California to be an additional $6 billion to $8 billion.

The recent storms caused deaths, widespread power outages, major flooding, and wind damage. A report earlier this week from ICEYE, a data utility for insurers and emergency management organizations, showed 2,933 properties were impacted by flooding across California, with an average inundation depth at building level of just over 1 foot.

Thursday’s AccuWeather damage estimate is on top of the $31 billion to $34 billion estimate issued in January based on the impact of previous storms. A series of storms in December and January devastated parts of the state, causing at least 17 deaths, road closures, landslides and mudslides, fallen trees, and damage to homes and businesses.

AccuWeather’s estimates at the time pegged total damage and economic loss between $31 billion and $34 billion.

AccuWeather now estimates the total for California’s wet season to be between $37 billion and $42 billion. That estimate largely accounts for damage to homes, businesses, infrastructure, facilities, roadways, and vehicles as well as power outages. A substantial portion of the damage to homes and businesses occurred due to mudslides, landslides, and water damage caused by flooding. Water damage tends to be costly to repair and may not be covered by homeowner’s insurance policies.

By comparison, the AccuWeather estimate for the total damage and economic loss for the late-December 2022 arctic outbreak and blizzard, including the Buffalo, New York area, was $10 billion.

The recent California storms resulted in significant wind damage – especially near San Francisco. Many trees have also fallen, resulting in property damage and fatalities, and required extensive clean-up efforts. A few damaging tornadoes have also occurred in California in recent days, AccuWeather reported.

The storms also brought continued drought relief, building on the relief from previous storms. AccuWeather meteorologists expect that most, or even all, of the short-term drought across California can be wiped out by mid-April.