The only thing known for certain about the cost of Hurricane Harvey is that it's one of the most expensive natural disasters in the nation's history. Two estimates on Wednesday put total losses -- including property damage, lost wages and disrupted business -- at as much as $75 billion. Moody's estimates that property losses will total between $45 billion to $65 billion, while economic losses will add $6 billion to $10 billion. Much of the destruction will not be covered by insurance since traditional homeowners' policies do not provide coverage for flood damage. Homeowners and businesses need federal flood insurance to protect themselves from the massive flood damage associated with this storm.

Source: CNN August 30, 2017 16:52 UTC