The combined damage caused by a tornado that ripped through Xenia, Ohio Sept. 20 and storms in several other counties, has been estimated at more than $33 million in insured losses, according to the the Ohio Insurance Institute.
A total of 37 property/casualty companies participated in the OII claims loss survey, including the majority of Ohio’s top-ten writers of personal auto and homeowners. The total number of estimated claims reached as high as 1,200 by regional insurers, with dollar losses ranging from a few thousand to several million.
Nationwide Insurance had the greatest number of claims—1,200—totaling $3.5 million, while State Farm, with just 125 claims, had the highest loss estimates at $8.75 million. Three out of every four claims reported so far pertain to homeowners or renters insurance coverage.
Some of the most common types of losses reported by insurers include total and partial structural losses, significant damage to roofs, and power outage-related losses. Uprooted trees and flying debris also caused substantial damage. Insurers also report that commercial policyholders were filing business interruption claims, as well as claims associated with structural and contents damage. Of the claims reported, just 107 were for commercial or business policies. Nearly one-fourth of the claims, according to the OII survey, were for damaged or totaled vehicles.
Topics Catastrophe Natural Disasters Profit Loss Claims Windstorm Ohio
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