Wednesday, 25 July 2012 20:16

Texas Leads Hailstorm Damage, Costing $1.7 Billion

Hailstorms cost U.S. insurers at least $1.7 billion in June, led by damage in Texas where vehicles were pummeled while stuck on the Dallas Central Expressway during an evening rush hour.

The number of claims from the Texas storm has surpassed 100,000 and insured losses will exceed $1 billion, Aon Plc (AON) said in its June Global Catastrophe Recap. A separate hail event in Colorado and Wyoming caused more than $700 million in insured losses, according to the report from the London-based broker.

“Damage occurred to a high volume of car windshields, roofs, golf courses, the marquee of the landmark Lakewood Theater and glass artwork at the Dallas Arboretum,” the Aon report said.

Insured losses in April were almost $1 billion, including damage from tornadoes in Texas and Kansas, the broker said in a report. The costliest U.S. storm in May struck Oklahoma and caused about $400 million of losses in the state, Aon said.

Costs from disasters reached $20.3 billion in 2011, one of the most expensive years on record.

 

Hail Storm Zeroes in on Car Lot, Denting 400 Vehicles

Red River Chevrolet in Bossier City, LA has lots of hail damaged cars for sale after a June storm brought golf ball-sized hail that hit half of the dealership’s inventory.

Dealership owner George Fritze estimated the hail pounded about $2,000 worth of damage into at least 400 cars on both their new and used lots. “It’s quite sizable.”
“We had a hail storm that ‘centered’ on our dealership here,” Fritze said, adding that the damaged cars will be available for sale at a discount.

“If a consumer doesn’t care about a few hail dents, they can save that much money on a new Chevrolet. And if they want to get them fixed, we’ve got our body shop here and we also have a team from out of town that’s in helping to knock out the dents with paintless dent repair.”

Some customers, he said, are opting for partial repairs that remove the dents only where they’re visible. Repaired vehicles will also be returned to the lot for sale.

“Being in this area of the country, we are susceptible to having hail storms from time to time. You could say disaster has struck again.”

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