Estimate Pegs 2020 US Hurricane Season Losses at Up to $65 Billion

The record-breaking 2020 Atlantic hurricane season was responsible for $60–$65 billion in US losses, according to AccuWeather.

The year saw a record 12 named storms making landfall in the United States, surpassing the previous record of 9 set in 1916.

In total, the season produced 30 named storms, of which 13 became hurricanes, including 6 major hurricanes, living up to forecasters' predictions of an extremely active season.

The 21-name Atlantic storm list was exhausted September 18 with the formation of Tropical Storm Wilfred, forcing the use of the Greek alphabet to name storms for the remainder of the season, ending with the ninth name on the Greek alphabet list with Hurricane Iota in mid-November. It was only the second time in history that it was necessary to use the Greek alphabet to name Atlantic storms.

AccuWeather's analysis found August's Hurricane Laura was the year’s most costly storm, resulting in an estimated $25–$30 billion in losses.

AccuWeather indicated its loss totals include all losses as well as economic impact, so it is greater than the insured loss total. In addition to structural damage to homes and businesses, the estimates include buildings' contents, damaged vehicles, job and wage losses, business losses and bankruptcies, damage from storm surge to coastal areas, contamination of drinking water, infrastructure damage, municipal and state costs, federal assistance, cleanup costs, and health costs.