AccuWeather estimates damages and economic losses from Milton at $160 billion to $180 billion

Total damage and economic losses from Hurricane Milton will be between $160 billion and $180 billion, according to a preliminary estimate from AccuWeather on Thursday.

After making landfall as a Category 3 hurricane, Milton will be considered one of the most damaging storms in Florida history, along with the estimated total damage and economic losses of Hurricane Helene of $225 billion to $250 billion two years ago weeks.

Related: Hurricane Milton leaves millions without power, disrupts flights

Contributing factors to Hurricane Milton’s impact are widespread storm surge along parts of Florida’s populated west coast, south of Tampa Bay to Fort Myers, with some surge south of that, as well as on the coast east of Florida and Georgia north of the hurricane’s track, according to AccuWeather.

The most destructive storm surge, with possible water levels of 15 feet or more, occurred between Sarasota and Englewood. According to reports from the areas, water levels rose rapidly in a “violent manner”, flooding homes and businesses. A damaging storm surge of 6 to 10 feet occurred further south along Florida’s west coast, including Punta Gorda, Fort Myers and Naples, according to AccuWeather.

Related: With back-to-back storms, Florida now faces damage adjustment delays

AccuWeather forecasters said that since the storm made landfall near Siesta Key, the maximum damage scenario was avoided. If the storm had made landfall 20 miles further north, total damage and economic losses from the storm would have eclipsed $250 billion.

Winds gusting between 100 and 110 mph and torrential rains that led to flash flooding affected the entire Tampa Bay metropolitan area. Wind gusts of 70 to 90 mph and extreme rainfall quickly spread along the heavily populated Interstate 4 corridor east of Tampa to Orlando and Daytona Beach, leading to additional wind damage, power outages and flooding. According to AccuWeather, nearly 4 million addresses were reported without power in Florida.

Related: Hurricane Milton could cost insurers $60 billion, raises reinsurance rates, RBC says

By comparison, Hurricane Ian in 2022 caused $180 billion to $210 billion in total damage and economic losses. In 2017, Hurricane Harvey caused $190 billion in damage, and Sandy in 2012 caused $210 billion in damage.