Hurricane Florence is expected to go down as the sixth costliest hurricane to hit in U.S. history in terms of property damage.
More than a month has passed since Florence made landfall on the coast of the Carolinas on Sept. 14, resulting in widespread destruction.
Researchers from Moody's Analytics believe a swath of land stretching from Virginia down to Georgia will see $44 billion in damage due mostly to the heavy rainfall — up to 36 inches in some spots — and resulting flooding.
"Losses will no doubt be exacerbated by a lack of flood insurance," according to the Moody's report. "Property owners also sometimes let their flood insurance lapse because they don't have a mortgage or because their lender doesn't check. "
This estimate would put it within the top 10 costliest, when compared to National Hurricane Center data.
Hurricanes Katrina and Harvey are tied as the most devastating to ever hit the U.S. Each left behind $125 billion in destruction after striking different parts of the Gulf Coast. Katrina hit the Gulf Coast in August 2005. Harvey struck the Texas coast last August.
Hurricane Maria swept over the U.S. territory of Puerto Rico in the Caribbean in September 2017, leaving parts of the island without power for 11 months and $90 billion of property damage.
Maryland, New Jersey, and New York were hit by Hurricane Sandy in October 2012 after the storm passed through the Caribbean, dissipated, then evolved into a "superstorm" and moved north. It caused $65 billion in damage.
Irma knocked Puerto Rico days before Maria in late summer 2017, but then moved back into the water, where it regained strength it had lost over land. It descended over South Florida and moved up the gulf side of the state, resulting in a total of $53 billion in lost assets.
Hurricanes Ike, Andrew, and Ivan were ranked the seventh, eighth, and ninth most destructive storms, respectively. Each monster storm left residents with $20 million to $30 million in damage to repair.
Lawmakers are expected to meet as soon as Tuesday to plan how to finance federal aid for those affected by Florence, including through the Federal Emergency Management Agency.