Top 10 most expensive hurricanes

Here's how Katrina changed special education in New Orleans
Here's how Katrina changed special education in New Orleans

All eyes are on Hurricane Joaquin.

The hurricane is currently a Category 4 and could get stronger.

It's the first this year that's posed a real threat to the U.S., and many on the East coast are concerned that it will be a repeat of 2012's Hurricane Sandy.

While it may not cause as much damage as Sandy did, it could still prove costly.

Flood damage isn't covered under most standard insurance plans -- in fact, it's only offered by FEMA and a handful of private firms. Wind damage on the other hand is covered by most insurance policies.

The Insurance Information Institute compiled a list of the 10 most expensive hurricanes to hit the U.S. based on payouts of insurance claims.

1. Katrina, August 25-30, 2005: $48.4 billion

2. Andrew: $23.7 billion, August 24-26, 1992

3. Sandy: $19.3 billion, October 28-31, 2012

4. Ike: $13.6 billion, September 12-14, 2008

5. Wilma: $12.1 billion, Oct. 24, 2005

6. Charley: $9.1 billion, August 13-14, 2004

7. Ivan: $8.6 billion, September 15-21, 2004

8. Hugo: $7.1 billion, September 17-22, 1989

9. Rita: $6.6 billion, September 20-26, 2005

10. Frances: $5.6 billion, September 3-9, 2004

Hurricane Joaquin storm stocks
People on the East coast are worried that Hurricane Joaquin (pictured) will be a repeat of 2012's Hurricane Sandy.

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