That Texas, Louisiana and Florida top the list of states that are most vulnerable to natural disasters is probably a finding of a recent study that will come as no surprise to folks who live in those states.
Another likely non-surprise revealed by the study by personal financial website ValuePenguin.com is that 2020 is on track to be the year with the most federally declared disasters in history.
In its study, ValuePenguin, found that 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 the study’s 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.
The 10 states most at risk for natural disasters, according to ValuePenguin’s report, are:
- North Carolina
- New Mexico
ValuePenguin.com, part of LendingTree, is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions.
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