Costs of insurance and damages rising from recent national disasters
What's adding to the costs of the damage from these California wildfires is the fact that these are multimillion-dollar homes going up in flames.
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Analysts are putting the insured losses in the $6 billion to $13 billion range.
And the economic loss is over $52 billion.
Puerto Rico is still recovering from recent hurricanes like Maria -- damages estimated at $90 billion.
And insured losses from Hurricane Helene in Asheville, North Carolina are over $5 billion.
What's adding to the costs of the damage from these California wildfires is the fact that these are multimillion-dollar homes going up in flames.
Fueled by unrelenting winds and drought conditions, firefighters are struggling to get the upper hand.
"It was apocalyptic. I've lived here my whole life. I have never seen that type of devastation where literally block after block after block of houses that were there 48 hours ago aren't there anymore. My sister actually lives in that area. We went by her house and her house unfortunately burnt to the ground. It truly is a situation that I have not seen in 60 years," said Los Angeles County District Attorney Nathan Hochman.
Analysts say the worst devastation for damage and insurance costs was Hurricane Katrina in 2005 that hit the Gulf Coast.
Estimated insured property losses: $65 billion
Estimated economic losses: $197.5 billion
