new report
Texas lands in top 10 states expected to be most financially affected by weather events
Texas — home to everything from tornadoes to hurricanes — cracks the top 10 of a new report ranking states based on impact from weather-related events.
SmartAsset's new report factored in a myriad of data from the Federal Emergency Management Agency to identify which states face the most financial risk due to various weather events. In the report, the states were ranked by the total expected annual financial losses per person. Texas ranked at No. 10.
"With a variety of environmental events affecting the wide stretch of the United States, each state is subject to its own risks," reads the report. "Particularly, tornadoes, wildfires, hurricanes, flooding, landslides, lightning and drought, among other events, can cause damage to buildings, agriculture and individuals alike. When considering insurance, residents and business owners in each state should account for historic and projected losses due to environmental events in their financial plans."
In Texas, the total expected annual loss per person is estimated as $283.15. The report broke down each weather event as follows:
- Coastal flooding: $1.49
- Drought: $3.48
- Earthquake: $1.71
- Heat wave: $8.16
- Hurricane: $89.22
- Riverine flooding: $66.05
- Strong wind: $5.37
- Tornado: $71.04
- Wildfire: $8.26
- Winter weather: $1.96