Winter storms have an average cost of $4.1 billion per event.Flooding events have an average cost of $4.7 billion per event.
Wildfires have an average cost of $6.2 billion per event.Drought/heat waves have an average cost of $10.0 billion per event.Tropical cyclones have the highest average cost per event of $20.3 billion.
The average cost per event by disaster types are the following: 2021 is the seventh consecutive year (2015-2021) in which 10 or more billion-dollar weather and climate disaster events have impacted the United States. This reflects a 5-year cost average of nearly $152.9 billion/year-a new record-as shown in the chart below by the black line.Ģ021 also follows the year 2020 that set the new annual record of 22 events. The total costs for the last five years ($764.9 billion) is more than one-third of the disaster cost total of the last 42-years (1980-2021), which exceeds $2.195 trillion (inflation-adjusted to 2021 dollars). The total cost from these events of 2021 was $145.0 billion and is the third most costly year on record, behind 20. The total cost of these 323 events exceeds $2.195 trillion.ĭuring 2021, there were 20 separate billion-dollar weather and climate disaster events across the United States. has sustained at least 323 weather and climate disasters where overall damages/costs reached or exceeded $1 billion (including CPI adjustment to 2021). In short, tropical cyclones are the most costly of the weather and climate disasters. What are the most costly weather and climate disasters? NCEI currently monitors and assesses the costs and impacts of:Ģ. The National Hurricane Center, the reinsurance industry, and catastrophe modelers incorporate such information into their assessments, to contextualize risk and loss potential for communities across the Nation. Our data and information are used to examine past events and gauge future risk. This enables us to provide historical context to these events when they occur while quantifying their total, direct costs. To that end, we maintain a consistent record of weather and climate disasters with costs equaling or exceeding $1 billion in damages (adjusting for inflation) using high-quality data sources and peer-reviewed methods.
billion-dollar disaster analysis seeks to bring the best public and private disaster loss data together in a systematic approach. As part of our responsibilities of monitoring and assessing the climate, we track and evaluate climate events in the United States that have great economic and societal impacts. NCEI is the Nation's scorekeeper in terms of addressing severe weather and climate events in their historical perspective. Why study the cost of weather and climate disasters? And, it is NCEI's job to chronicle these disasters and document their impacts to the Nation. Drought, floods, freezing temperatures, severe storms, tropical cyclones, wildfires, winter storms-every year since 1980, these weather and climate disasters have claimed countless lives and caused billions of dollars in damages in the United States.
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