As was immediately speculated in the wake of Monday’s tornado, which left a 20-mile stretch south of Oklahoma City, Okla., in ruins, the damage costs will likely place it among the most costly in U.S. history.

Kelly Collins, spokeswoman for the Oklahoma Insurance Department said damages likely would exceed $2 billion, with more than 4,000 insurance claims filed already.

The Joplin, Mo., tornado from May 2011 remains the costliest in U.S. history, with damages totaling $2.8 billion.

The number of casualties from Monday’s tornado was at 24, including 10 children, and 353 people were injured, as announced by Oklahoma Governor Mary Fallin’s office.

The National Weather Service confirmed the tornado was 1.3 miles wide and reached wind speeds ranging from 200 to 210 miles per hour, which qualifies it as an EF-5 tornado, the most powerful category.

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