<P> This is a list of costliest Atlantic hurricanes . Hurricanes, as defined by the National Oceanic and Atmospheric Administration (NOAA), are tropical cyclones--a warm - core, non-frontal synoptic - scale cyclone, originating over tropical or subtropical waters with organized deep convection and a closed surface wind circulation about a well - defined center--in the Atlantic, Caribbean Sea, Gulf of Mexico, or eastern Pacific, in which the maximum 1 - minute sustained surface wind exceeds 64 knots (74 mph; 119 km / h) or greater . The hurricanes on the list below depict the severity of the damage the system has caused . Typically, if a hurricane has caused significant damage to a particular location, its name is retired so that it will not be re-used as a name for any future hurricanes . The costliest tropical cyclone ever recorded was Hurricane Harvey, which caused catastrophic flooding in southeastern Texas, in August 2017, causing $125 billion (2017 USD) in property damage . The costliest season on record was 2017, with damage estimated to around $300 billion . </P> <P> A majority of the costliest Atlantic hurricanes in recorded history have peaked as major hurricanes . However, weaker tropical cyclones can still cause widespread damage . Both tropical storms Allison in 2001 and Lee in 2011 have caused over a billion in damage; the former of which accounted for a higher damage total . Due to their excessive damage, the names of tropical cyclones accruing at least $1 billion in damage are often retired by the World Meteorological Organization . However, this is not always the case . Hurricane Juan in 1985 was the first hurricane to cause at least a billion in damage and not be retired; its name was retired on a later usage in 2003 that did not cause over a billion in damage . Since Juan, seven tropical cyclones that caused at least a billion in damage were not retired, including Hurricane Emily in 2005, and the most recent of which being Hurricane Isaac in 2012 . All other 46 Atlantic hurricanes to have caused as much damage have had their names retired, excluding recent hurricanes Harvey, Irma, and Maria of the 2017 season . </P>

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