AccuWeather’s U.S. Preliminary Estimate of Damage and Economic Loss from Debby is $28B
The total damage and economic loss from Hurricane Debby in the U.S. is expected to be $28 billion, according to a preliminary estimate from AccuWeather.
The estimate is preliminary because the storm effects continue to be felt and some areas have not yet reported complete information about damage, injuries and other impacts.
“Debby’s first landfall as a hurricane in Florida, second landfall as a tropical storm in South Carolina and its impacts along its trek across the eastern United States are widespread and will be long-lasting,” stated AccuWeather Chief Meteorologist Jon Porter. “Storm surge, flash flooding and tornadoes have damaged homes, businesses and schools, and in some cases, the damage is severe. Travel disruptions and beach erosion have resulted in significant economic losses for the tourism industry in coastal areas during a very busy part of the summer vacation season.”
Related: Storm Debby Threatens Carolinas With Possible Floods, Tornados
Additionally, thousands of flights were canceled, local curfews were ordered, and many businesses were forced to close or reduce services.
Insurers and reinsurer losses from the hurricane are expected to be in the low single-digit billions of dollars, a figure that would be “very manageable” for the industry, according to a report from Gallagher Re.
Wind and water-related losses could cost insurers between $1 billion and $2 billion. Fewer active insurance policies were partly why the losses would be so low, the reinsurance broker’s report said.
Related: AccuWeather: Tropical Threat Developing in Atlantic Could be Next Named Storm
Ahead of Debby, storm surge flooding impacted the Gulf Coast of Florida, leaving property near the coast in population centers such as Fort Myers and Tampa under water. The storm then crawled across the southeast U.S., bringing more than a month’s worth of rainfall to many areas. Historic and catastrophic flooding resulted in parts of northern Florida and up the East Coast into the eastern Carolinas, Virginia and parts of the Northeast, according to AccuWeather.
The hardest hit areas experienced a foot or more of rain in a day or two, leading to the devastating flooding that damaged homes and businesses and ultimately.
Debby was the second billion-dollar storm to hit the U.S. in an Atlantic hurricane season that’s expected to be active.
Related: Extreme Weather Sends Insured Losses 70% Above Historical Norms
AccuWeather estimates Hurricane Beryl caused $28 to $32 billion in damage and economic loss in the U.S. when it made landfall in Texas last month and spun up dozens of tornadoes from the Gulf Coast through upstate New York.
AccuWeather continues to forecast “an explosive season” with 20 to 25 named storms and four to six direct impacts to the U.S. this year.
AccuWeather’s estimate for Hurricane Debby largely accounts for damage to homes, businesses, infrastructure, facilities, roadways and vehicles as well as power outages. The estimate reflects damage and negative impacts to the economy that have occurred through the storm.