$29.4 Billion: Superstorm Sandy's Estimated Damages to New Jersey Alone
With recovery efforts still very much ongoing in the aftermath of Superstorm Sandy, it may be a while before a final calculations of damages emerges, even if its abundantly clear that the tally will huge. Nevertheless, New Jersey governor Chris Christie is offering up an estimate for his state, based on preliminary analysis, of at least $29.4 billion.
Christie said, quoted by Reuters:
The preliminary numbers is based on the best available data, field observations and geographical mapping, and supported by expert advice from the my Cabinet commissioners and an outside consulting company.
Add to that damage estimates from New York of at least $30 billion, plus damage in all the states affected by the storm and it's likely that Sandy will be the second most-costly hurricane in US history, in the $65 billion range.
For all the comparisons made in the midst of the storm to Hurricane Katrina, that disaster still dwarfs Sandy for damage and lives lost—$108 billion in damages and approaching 2000 deaths.
In 2011, the combined damage from extreme weather events such as floods, drought and strong storms hit $150 billion, 10 storms causing at least $1 billion in damage, and four topping $10 billion.