Florida's insurer of last resort expects to pay out more than $5 million in claims from the tornadoes that struck four counties in the state last Friday, seriously damaging or destroying 890 homes.
Citizens Property Insurance Corporation in a statement said it expects the final damage total to run between $5 million and $6 million. It has already paid out $521,951 in claims and another $200,000 in checks is being processed.
So far, 230 storm-related claims for what have been dubbed the "Ground Hog Day Tornadoes" were filed, and Citizens expects about 500.
The National Weather Service said two tornadoes struck four counties in central Florida around 3 a.m. Friday. The strongest tornado was measured as F-3 with winds between 158 and 206 mph on the Fujita scale.
Florida's State Emergency Response Team said 20 people were killed in the counties of Lake, Seminole, Sumter and Volusia where the tornadoes hit. A total of 1,544 structures were damaged, 456 sustaining major damage and 434 destroyed.
Earlier in the week, Bloomington, Ill.-based State Farm, ranked second in homeowners insurance coverage in Florida behind Citizens, said it estimated its losses would be between $20 million and $24 million.
A spokesman in Florida for Northbrook, Ill.-based Allstate, ranked third in the state's homeowners insurance market, said today that the company has received less than 200 claims. He could not characterize the degree of the claim losses.
The company traditionally refrains from releasing claim dollar estimates, reporting the figures in its quarterly report, a company spokesman said.
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