ValuePenguin: Winter Weather Property Damage Already at $61.8M in 2024

(Image courtesy of Ruvim Miksanskiy/pexels.com)

As we head into the winter months in much of the United States, ValuePenguin, a division of LendingTree, Charlotte, N.C., put out a report on winter weather damage. So far, winter weather has caused an estimated $61.8 million in property damage in 2024.

During last winter season–defined as November 2023-April 2024–there was $242.5 million in property damage. Over the past decade, there has been $1.7 billion in property damage.

“When we look at all the disasters that struck from November 2023 through April 2024, we can see how climate change is reshaping winter–and making it deadlier,” said ValuePenguin Home Insurance Expert Divya Sangameshwar. “On top of the two winter weather events, the country also experienced seven severe tornado outbreaks and one major flood event during the same period.”

So far in 2024, 77.1% of winter weather-related property damage has occurred in Oregon, at $47.6 million. Nebraska is No. 2 at $7.5 million.

“The significant winter weather damage in Oregon will lead to higher insurance premium[s]–something that Oregon homeowners are already dealing with after several years of disasters, including the 2020 Labor Day fires, the 2022 winter storm, flooding in 2023 and the destructive winter storm Indigo in 2024,” Sangameshwar said. “From 2019 to 2024, home insurance premiums in the state have risen 42%.”

In the 2023-2024 winter season overall, Texas actually saw 36% of total damage, at $87.2 million, followed by Oregon at 27.9% and Michigan at 20.4%.

From 2015-2024, no property damage related to winter weather has been reported in Hawaii, Delaware, Maine, New Hampshire and Washington, D.C.