Fatal Texas floods could cost up to $22 bln, AccuWeather estimates

By Al Mayadeen English
Source: Agencies
8 Jul 2025 14:37

AccuWeather estimates the Texas floods could cause up to $22 billion in damages, while the majority of uninsured homeowners face mounting losses as the death toll rises.

Listen

Damage at Guadalupe Keys Resort, an RV park in Center Point, Texas, is seen after flooding, on July 7, 2025. (AP)

The deadly floods that struck parts of Texas earlier this week could cause between $18 and $22 billion in total economic damages, according to a preliminary report by AccuWeather. The estimate includes insurance claims, emergency response costs, infrastructure repairs, cleanup operations, and long-term impacts on the regional tourism industry.

Despite the scale of destruction, AccuWeather emphasized that most Texas homeowners will likely not be fully covered. Standard insurance policies typically exclude flood-related damage, and only about 4% of homeowners in the US are insured through the National Flood Insurance Program (NFIP), which is administered by the Federal Emergency Management Agency (FEMA).

This lack of financial coverage could leave thousands of families financially vulnerable as they begin to assess their losses and rebuild.

Death toll on the rise

The floods have already claimed the lives of at least 84 people. Among the deceased are at least 27 campers and counselors from Mystic Christian Girls' Camp in Kerr County, one of the hardest-hit areas. Rescue teams continue to search riverbanks and flood zones, with officials warning that the number of fatalities is expected to increase.

Among those killed were girls as young as 8 and 9, as well as the camp's director, Dick Eastland. Authorities said 10 campers and one counselor remain unaccounted for as of Monday evening.

“I had about 200 kids — scared, cold, and terrified. Probably the worst day of their lives.”

Coast Guard rescue swimmer Scott Ruskin shares how he helped save 165 people during the devastating Texas floods at Camp Mystic. pic.twitter.com/1jUWQGDqKa
— Good Morning America (@GMA) July 7, 2025

Six counties across Texas have reported extensive damage, but Kerr County, where the summer camp tragedy occurred, suffered the most severe losses. Officials and emergency responders are focusing on recovery operations as communities grapple with the disaster’s aftermath.

While AccuWeather has issued a broad damage estimate, the implications for the reinsurance sector are still uncertain. Analysts expect further assessments in the coming weeks as claims are processed and economic losses are calculated in more detail.