Winter storms caused nearly $6 billion in insured losses in 2022, the second-highest year on record for winter storm insured losses in the last ten years, according to Aon. The third costliest winter event since 1950 occurred in December 2022, amounting to $3.5 billion insured losses. Winter storms include snow, ice, freezing and flooding.
U.S. Insured Losses from Winter Storms, 2014-2023
| Insured losses (1) | ||
|---|---|---|
| Year | When occurred | In 2023 dollars |
| 2014 | $3,550 | $4,655 |
| 2015 | 3,918 | 5,133 |
| 2016 | 1,178 | 1,525 |
| 2017 | 926 | 1,170 |
| 2018 | 3,791 | 4,678 |
| 2019 | 1,859 | 2,260 |
| 2020 | 1,098 | 1,307 |
| 2021 | 15,529 | 18,166 |
| 2022 | 10,197 | 10,697 |
| 2023 | 3,326 | 3,403 |
(1) Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed.
Source: Aon.
Top 10 Costliest U.S. Winter Events By Insured Losses, 1950-2023 (1)
| Insured loss | |||||
|---|---|---|---|---|---|
| Rank | Date | Event | Location | When occurred | In 2023 dollars (2) |
| 1 | Feb. 12-20, 2021 | Polar Vortex, Texas Freeze | TX, OR, WA, CO, NV, AR, OK, GA, NC, FL, IL, IN, IA, WI, OH, PA, VA, NC, SC, LA, MO, MS |
$14,900 | $17,466 |
| 2 | Dec. 21-26, 2022 | Winter storm | Nationwide | 7,700 | 7,985 |
| 3 | Mar. 11-14, 1993 | Blizzard | AL, CT, DE, FL, GA, KY, LA, MA, MD, ME, MS, NC, NH, NJ, NY, OH, PA, RI, SC, TN, TX, VA, VT, WV |
2,000 | 4,413 |
| 4 | Feb. 16-22, 2015 | Winter storm, winter damage | CT, DC, DE, IL, KY, MA, MD, ME, MI, NC, NH, NJ, NY, OH, PA, RI, SC, TN, VA, VT |
2,100 | 2,754 |
| 5 | Dec. 17-30, 1983 | Winter damage, cold wave | AL, AR, CO, CT, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, MT, NC, ND, NE, NJ, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WI, WV, WY |
880 | 2,674 |
| 6 | Jan. 5-8, 2014 | Winter damage, cold wave | AL, GA, IL, IN, KY, MD, MI, MO, MS, NC, NJ, NY, OH, PA, SC, TN, VA |
1,750 | 2,303 |
| 7 | Dec. 10-13, 1992 | Winter storm | CT, DE, MA, MD, NJ, NY, PA, RI, VA, WV | 1,000 | 2,169 |
| 8 | Nov. 24-30, 1950 | Winter storm | CT, DE, MA, MD, ME, NH, NJ, NY, PA, RI, VT | 170 | 2,168 |
| 9 | Mar. 1-3, 2018 | Winter storm | CT, DC, DE, MA, MD, NC, NJ, NY, PA, RI, VA | 1,755 | 2,165 |
| 10 | Jan. 29, 1951 | Ice Storm | TN, TX, VA, AL, KY, MS, LA, GA, WV, VA, NC, SC | 150 | 1,818 |
(1) Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Ranked on losses in 2023 dollars. Subject to change as loss estimates are further developed. As of January 2024.
(2) Adjusted for inflation by Aon using the U.S. Consumer Price Index.
Source: Aon.
