Tornado insurance claims in May broke the 75k mark

Tornado insurance

The payments, so far, have reached almost $688 million for homes and twisters damaged by tornadoes. The claims that were made related to the twisters that occurred in Oklahoma over the month of May have now broken the 75,000 mark, to the point that insurers have now made almost $688 million in tornado insurance payments. On June 26, the number of claims that had been filed for this type of damage reached 75,758 in the state. On that same date, the payments made on tornado insurance claims in Oklahoma for…

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Tornado insurance claims have already surpassed $250 million in Oklahoma

Tornado insurance

Homeowners, property, auto, and other claims have contributed to this massive and growing total. According to the state commissioner, the tornado insurance claims from May in Oklahoma have already risen to the point that they have reached $250 million and they are expecting to surpass that total quite quickly before long. The devastation that was caused in the Oklahoma City area in May was staggering. Since May 19, there have been over 32,000 total tornado insurance claims on various different types of policies. This, according to Commissioner John Doak’s data.…

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Homeowners insurance claims from Oklahoma tornado could exceed Joplin

Homeowners insurance losses oklahoma tornado

The state commissioner has reported that the damage caused by the E5 will be in the billions of dollars. John Doak, the Oklahoma Insurance Commissioner, has stated that it is likely that the tornado that struck the Oklahoma City suburb will generate homeowners insurance claims that will be higher than the twister that hit Joplin, Missouri in 2011. Doak stated that Joplin’s storm caused about $3 billion in damage, and that “This will likely exceed that.” The commissioner made his statement after having toured the devastated area. He said that…

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Alabama falls victim to yet another outbreak of tornados this week – estimated cost of disaster at $30 million

Birmingham, Alabama, was hit by strong winds and a number of tornados earlier this week that caused extensive damage to homes and businesses. The city was not the only place that fell prey to disaster, however, as the storms made their way throughout much of the state. Risk modeling firm EQECAT originally estimated that the disasters could cost insurers $15 million. After surveying the extent of damage, the firm has revised that estimation to $30 million. A total of ten tornados formed early Monday morning, causing havoc and alarming unprepared…

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