2020 is on pace to be the year with the most federally declared disasters in history.
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.
10 states most at risk for natural disasters:
- North Carolina
- New Mexico
To view the full report, visit: https://www.valuepenguin.com/property-insurance/states-most-at-risk-natural-disasters
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