Insurance News

AccuWeather raises Texas damage, Winter Storm loss estimate to $ 130 billion

AccuWeather raises Texas damage, Winter Storm loss estimate to $ 130 billion

Damage costs and economic losses due to the intense winter storm that hit the country in mid-February could rise to as much as $ 130 billion, according to AccuWeather. This figure is higher than the AccuWeather range from $ 50 billion to $ 60 billion previously estimated.


Rapid power outages, hundreds of thousands of insurance claims and millions of residents affected by the country are contributing to the penalty of the coast-to-coast winter weather in February more expensive than the historic hurricane season in 2020 – and probably the most expensive weather month impact in the US in the recent history.

Across the U.S., AccuWeather’s estimate of total damage and economic loss due to the harsh winter weather in February is now about $ 155 billion.

“In February, we saw one of the worst cold and stormy patterns of winter weather not seen in decades, with extreme record low temperatures and ice spreading over a very large area in several states,” said AccuWeather, founder and CEO , dr. Joel N. Myers said in a media statement. “Texas has had the heaviest consequences with significant damage due to citrus crop losses, power outages, water outages, burst pipes in many homes and businesses, in addition to the loss of life.”

People are waiting in line to fill up propane tanks on Wednesday, February 17, 2021 in Houston. (AP Photo / David J. Phillip)

AccuWeather’s estimation is based on an analysis that includes independent methods to evaluate all direct and indirect effects of the storm and is based on a variety of sources, statistics and unique techniques that the company uses to estimate the damage.

By comparison, the estimate of AccuWeather for the entire Atlantic hurricane season in 2020 was between $ 60 billion and $ 65 billion in economic damages.


At least 58 lives were claimed by a storm in February, with many deaths due to hypothermia and carbon monoxide poisoning. In addition, some died in slip-and-fall incidents related to the frozen conditions. According to The Washington Post, eight states have reported deaths in connection with the storm, which stretches from Texas to Ohio.

Source: AccuWeather

Was this article valuable?

Here are more articles you can enjoy.

Interested in Funding?

Get automatic alerts for this topic.


Most Popular

To Top