State Farm says hail insurance claims rose by $1 billion in 1 year

Hail Insurance - Person holding hail

The insurer has released its annual claims figures showing the impact of increased filings and inflation. State Farm recently released its hail insurance claims data, revealing that there was a $1 billion increase in filings for damage from that cause in 2022 when compared to the figure for 2021. The insurer has pointed to more claims and rising inflation to explain this massive spike. Compared to 2021, the number of hail insurance claims rose by nearly 45,000 in 2022. That said, as large as that jump may be, it wasn’t…

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What Is the Process of Getting Hail Damage Repaired?

Are you excited because the temperature is getting cold outside? If so, you may be looking forward to a lot of winter weather activities. Unfortunately, one activity that is not fun during the winter is driving. If there is a lot of winter weather taking place outside, then you should try to avoid driving unless you have to. Sadly, there might be situations where you have to go out during the winter. If that is the case, your car might suffer hail damage. It can be frustrating to see hail…

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Will Homeowner’s Insurance Cover Hail Damage?

Insurance Cover Hail Damage

Since you’re living in “hail alley” in Denver, damage to your property due to this meteorological phenomenon kind of just comes with the territory. That being said, it doesn’t make the damage any less frustrating when you have to deal with it. Repairing places around your home, like your roof, can be a financial burden if you’re not appropriately prepared to handle the responsibility. There is a real need for hail preparedness, considering that parts of Colorado receive the “highest frequency of large hail in North America and most of the world.”…

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Severe weather brought in $109 million in insurance claims

hail storm severe weather damage

The storms that struck Colorado from May 20 to 22 had left considerable damage in their wake. Homeowners, vehicle owners, and business owners in Colorado all found themselves having to deal with the aftermath of severe weather, and for many, this meant that they were making insurance claims on their policies to help to cover the cost of the damage that was left behind. While some people had to contend with very heavy rain, others were battered with hail. Those who were the most unfortunate found themselves having to manage…

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Hail damage claims in Colorado cause insurance companies to brace themselves

homeowners insurance hail damage storm

As this year proves to be another in which tornadoes and other storms will be damaging, insurers are preparing. Property insurance companies are getting ready for the wave of claims that they are expecting from the tornadoes and hail damage that have resulted from the recent storms in Colorado. Insurers believe that the totals for the claims could be quite significant, and they are bracing for it. At the time that this article was written, no estimates had yet been compiled. However, the Rocky Mountain Insurance Information Association executive director,…

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