The 5 Most Expensive Natural Disasters in the World

3. Hurricane Katrina

With 1,833 fatalities and $108 billion in damages, 2005’s Hurricane Katrina became the costliest as well as one of the deadliest natural disasters in U.S. history. Katrina originated over the Bahamas as a moderate hurricane, but as it approached the Gulf of Mexico it became stronger and eventually resulted in a mighty Category 5 hurricane. The winds, storms and floods affected the Gulf Coast from Florida to Texas, hitting New Orleans the hardest. Hurricane Katrina proved that many areas had been ill prepared to face such a catastrophe. After 2005, the government’s approach to preparation for natural disasters changed significantly for the better.