The initial estimates are in for the tornados that struck the Dallas/Fort Worth area last week. Here are the initial numbers;
- Over 1,000 homes were damaged or lost
- The estimate insurance companies will pay out for these claims is $500 million
- Over 20,00 claims were filed for cars and trucks damaged or destroyed by the April hail storms & tornados
- No estimated claim amount has been published yet for the claims on the cars and trucks
- No estimate for commercial claims has been released yet either for businesses that suffered losses from the storms
As those numbers are released, we’ll publish updates. Seeing an amount this early in the year could signal an expensive claims year for all insurers and ultimately higher premiums in the year to come.