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More Frequent, Severe Storms Drive 84 Percent Increase in Hail Claims

Originally posted July 17, 2013 on http://www.claimsjournal.com

The National Insurance Crime Bureau reported that insurance claims resulting from hail-storm damage increased 84 percent in 2012 from their 2010 level. In 2010, there were 467,602 hail damage claims filed. That number increased to 689,267 in 2011 and to 861,597 in 2012—an overall increase of 84 percent from 2010 to 2012.

The nation has experienced severe storms (wind, tornado, hail) that are occurring with more intensity and affecting more areas of the country. While scientists debate why these storms occur, no one argues with their effects—extensive property damage and, many times, loss of life. The property damage can be as minimal as a few broken shingles to total destruction of buildings. The report focuses just on insurance claims resulting from hail damage.

Over 2 million hail damage claims were processed from January 1, 2010 to December 31, 2012. During this period, the top five states generating hail damage claims were Texas (320,823), Missouri (138,857), Kansas (126,490), Colorado (118,118) and Oklahoma (114,168).

The claims activity follows the hail storm activity as posted on the National Weather Service’s Storm Prediction Center.  In 2010, 2011 and 2012, Texas was the state with the most hail storm events with 557, 741 and 795, respectively.

Source: NICB