It may come as no surprise to many that 2020 has been heavy with natural disasters.
At the end of April, the year 2020 was already ranked No. 2 for most disasters, with peak hurricane and wildfire season yet to come.
However, some states are more at risk for natural disasters as the severe weather season gets underway.
In a recent study conducted by ValuePenguin, 10 states are left paying for more than 80% of the cost of natural disasters in the United States, with damage particularly concentrated along the Gulf Coast. According to our findings:
- The financial impact of natural disasters hits hardest in Texas, where annual costs have averaged $1,478 per household over the last five years.
- Disaster costs are highly concentrated in 10 states, which have footed the bill for 80% of total disaster costs since 2014.
- Hurricanes and flooding continue to be key causes, and wildfires made a bigger impact over the last five years than during the previous period.
- As a result of the coronavirus, 2020 is on pace to be the most disaster-heavy year ever. As of June 1, FEMA has declared more disasters this year than any other except 2011.
For more information, visit www.valuepenguin.com