Insurers on the hook for $600M following Texas hailstorms

The hailstorms in the Fort Worth area last week could cost insurance companies a significant amount in vehicle and home repair, initial reports suggest

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Hailstorms in the Fort Worth area last week might cost up to $600 million in vehicle and home repairs. Half of the cost could be from vehicle damage claims, the Fort Worth Star-Telegram reported.

Approximately 50,000 vehicles were damaged by the storms according to the Mark Hanna, a spokesman for the Insurance Council of Texas. The hail reached the size of tennis balls during the storm's two bursts. The damaged vehicles include 30 MedStar ambulances and three Arlington police cars.

"Friday's severe weather could be the 12th costliest storm in Texas," said Mark Hanna to the Fort Worth Star-Telegram. "That means a lot of insurance adjusters are busy right now looking at autos, homes and businesses. We need to get people back on their feet again."

State Farm had 5,820 auto claims and 2,630 property claims as of this past Sunday. To accommodate the incoming claims State Farm has opened two mobile vehicle access sites and expect to three more by the end of the week, KXAS-TV (NBC5) reported.

"We started interacting with customers Thursday right after the storm," said Chris Pilcic, a State Farm spokesman. "Our local folks who are already here were seeing claims, talking to them, filing the claims, but because of the volume we bring people in from really every state."

More than 15,000 people in the Fort Worth area lost power during the storm and flights to and from Dallas/Fort Worth International Airport were delayed. The Fort Worth Zoo also suffered damages. They lost five flamingos, an ibis, a pelican and a swan to the hailstorm.

Texas is one of the most disaster-prone states; between 2006-2013 the state had an estimated $23.7 billion in property damage. In the same time period there were 313 weather-related fatalities. Alongside hail the state's biggest natural threats are thunderstorms, drought, tornadoes and flash floods.
 
 

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