A look at 5 of the costliest winter weather events in US history
The polar vortez that has been gripping the Midwest for almost a week is set to cost the economy as much as $14 billion, according to new estimates from AccuWeather.
And, while much of that will be recouped, up to $5 billion of that could be permanently lost.
The high costs are due to transportation gridlocks, crop devastation, lost productivity, and significant insurance claims to name a few.
Though the $5 billion estimate may seem pricey, it still pales in comparsion to some past winter events.
Using National Climatic Data Center records, personal finance website GoBankingRates.com, tallied up the five most expensive winter storms in history using inflation-adjusted costs of storm damage since 1980.
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Here are the top five most expensive to date.
1. East Coast Blizzard and Severe Weather
UNITED STATES - MARCH 14: Cleaning up after the snowstorm blizzard of 1993 (Photo by Robert Rosamilio/NY Daily News Archive via Getty Images)
Dates: March 11-14, 1993
CPI-Adjusted Total Cost--$9.8 billion
Dubbed the “Storm of the Century,” this 1993 blizzard still holds the title as the most expensive storm to date.
2. California Freeze
Dates: Dec. 18-25, 1990
CPI-Adjusted Total Cost: $6.7 billion
3. Southeast Ice Storm
Dates: Feb. 8-13, 1994
CPI-Adjusted Total Cost: $5.2 billion
4. Freeze, Cold Wave of 1983 ---- Dubbed the “Freeze of the Century”
Dates: Dec. 15-25, 1983
CPI-Adjusted Total Cost: $5.2 billion
5.Blizzards/Floods of 1995-1996
Dates: Jan 1-31, 1996
CPI-Adjusted Total Cost: $4.9 billion.