Hurricane Harvey and all its weather effects have not passes and residents of Texas are beginning to put numbers to all the damage caused. Though it is still early, analysts are throwing numbers out like $180 billion and more as the total cost of damages. The number of homes damaged has been reported to be right around 40,000, and the number of cars has been reported anywhere from 550,000 to one million, which isn't bad news for the slowing auto sales industry.

While Texas begins to repair, there is another storm on the horizon. Three to be exact. While two of them will not affect the US at this point there is one that will give Harvey a run for its money and that's Hurricane Irma. This hurricane has already destroyed southern islands, Puerto Rico and is expected to hit nearly the entire state of Florida later this weekend. While residents of Florida (myself included) are no stranger to hurricanes, this one has the entire state on alert.

For your investments the real question is can the insurers handle another storm? Names like Allstate (ALL  ), and Travelers Insurance Group (TRV  ) have been hit pretty hard in the last few weeks, and rightfully so. Allstate was trending higher all year long, in a perfect uptrend before Hurricane Harvey pushed it lower 10%. Travelers had a similar move as well.

The day traders have been all over this activity as each news headline causes more volatility, but what about the long term investor. Is now the time to be in these insurers? Well, here is one way to look at it. Right now Travelers is trading at a nine month discount, while Allstate only a five month discount. While its not likely these bounce prior to another huge storm hitting the states, those looking for a rare discount in the markets have found it in the insurer section of the financial stocks.