Ohio May Storms Cause $167M Insured Losses
NU Online News Service, July 6, 10:42 a.m. EDT?A series of May storms that landed on parts of Ohio in May caused insured losses of at least $167 million from more than 44,000 claims, according to data from the Ohio Insurance Institute.[@@]
The Ohio Insurance Institute, based in Columbus, Ohio, said the most prominent storms caused significant damages in the Canton area, Newark and northeast Ohio, as well as greater Dayton region.
OII said that so far more than 44,000 claims have been filed related to the May storm systems. About 60 percent of the claims were filed under homeowners' insurance, with covered losses exceeding $116 million from 26,356 claims.
On the auto-claims side, common vehicle damage included dents in car roofs and hoods, and some insurers also reported flood damage to vehicles.
To date, at least 12,325 auto insurance claims have been filed, totaling about $30.7 million. Most of the remaining losses were for business-related claims, estimated around $12.5 million. Estimates do not include home or business flood-related losses.
Among individual insurers, State Farm Insurance Companies, based in Bloomington, Ill., appears to have been hit the hardest, with some 15,000 claims and at least $54 million in estimated losses so far.
State Farm's claims level is followed by the Columbus, Ohio-based Grange Mutual Casualty Company, which reported some 3,200 claims and $11 million in estimated losses, and The Motorists Insurance Group, also based in Columbus, Ohio, with around 2,380 claims and about $11 million in estimated losses.
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