Hurricane Nate will probably cost insurers less than $US500 million ($635 million), according to catastrophe modeller RMS.

The estimate includes property damage and business interruption from wind and coastal flooding to residential, commercial, industrial and motor lines of business.

Nate made landfall early this month near the mouth of the Mississippi River, but inflicted the least damage when compared with other hurricanes this season – Harvey, Irma and Maria.

Overall insured losses from the most active Atlantic hurricane season in decades are forecast to be $US75-$US120 billion ($95-$152 billion).