Texas Storm Expected to Result in $50M in Insured Losses
The strong winds and large hail that hit parts of Austin, Texas last week are expected to result in insured losses totaling $50 million. Claims from damaged homes and automobiles continue to come in.
Up to 20,000 insurance claims are expected from the storm that uprooted trees, knocked out windows, damaged roofs, and smashed cars in portions of west, north central, and east Austin. Average homeowner claims were estimated at $3,500 while auto claims were estimated at $3,000.
Wind gusts as high as 65 mph were recorded as were hail stones the size of tennis balls. Austin residents are asked to contact their insurance agents or companies as soon as possible to report damage.
The last storm to cause more insured losses than this month’s storm occurred on March 24, 2005, when a hail storm raked portions of north Austin resulting in an estimated $100 million in destruction.
Published on May 20, 2008
Are you a retail Agent Looking for a Quote?