NEW YORK (CNN/Money) - Hurricane Jeanne has the potential to be the most expensive storm to hit the United States in a year of expensive storms.

Jeanne came ashore near Stuart, FL, just before midnight Saturday, about 10 miles from where Frances hit Labor Day weekend. The storm had sustained winds of 120 mph but by Sunday afternoon had weakened to tropical storm status. (Click here for CNN.com hurricane coverage.)

Risk Management Solutions, a catastrophe modeling firm that works for the insurance industry, estimated Sunday that Jeanne could cause between $4 billion and $8 billion in insured losses in the United States. A loss at the upper end of that range would be second only to Hurricane Andrew, which in 1992 caused $20 billion in insured losses, adjusted for inflation.

RMS meteorologist Kyle Beatty said the fact that Jeanne is so closely following the path of Frances is adding to the cost. Many buildings that were damaged by Frances have not been completely repaired yet and would be more susceptible to further damage, said Beatty.

"If a roof hasn't been fully fixed, there's greater risk of water damage," he said.

In addition Beatty said that some insurers were allowing customers who were hit by both Hurricane Frances and Hurricane Charley to count the losses as a single event, not forcing them to pay two separate deductibles that could be between 2 and 5 percent of a home's value. A similar policy for Jeanne would increase insured losses, he said.

Another factor driving up losses could be the shortage of contractors and some supplies needed to make repairs.

Even if Jeanne causes only $4 billion in insured losses, that is likely enough to make it either the fifth or sixth most expensive storm in U.S. history.

And the total insured losses will make this among the most expensive years for insurers, with total losses now estimated at between about $18 billion and $25 billion. This is the first year since 1985 that has had at least four storms make it to the U.S. mainland at hurricane strength.

Analysts with insurance rating agency AM Best said earlier this month that the insurance industry and the reinsurance industry should both have sufficient resources to handle the large claims being seen this year.