CNN —Hurricane Idalia caused billions of dollars in damage, but the price tag won’t be nearly as high as other major hurricanes, Moody’s Analytics said Thursday.
According to preliminary cost estimates from Moody’s, Hurricane Idalia caused between $12 billion and $20 billion in damage and lost output.
For context, Hurricane Ian, which made landfall in Western Florida last year as a Category 4 storm, caused an estimated $112.9 billion of total damage in the United States, according to the National Hurricane Center.
Not only that, but Kamins notes that property values in the Big Bend are lower than the rest of the state.
Moody’s RMS plans to release official estimates of insured losses in the next two weeks.
Persons:
Idalia, Ian, Adam Kamins, Kamins, ” Kamins
Organizations:
CNN, National Hurricane Center, Moody’s
Locations:
Moody’s, Western Florida, United States, Florida’s Big Bend