In 2013, wind and hail losses comprise approximately 30% of the homeowners claims filed by insureds according to the Insurance Information Institute. The average loss was just over $7,700. A new ranking from CoreLogic could give insurers some insight as to where the greatest number of wind-related losses will occur.
The windy city rankings show that Jackson, Mississippi is the windiest city in the country. Rounding out the top five cities are Springfield, Mo.; Boston and Cambridge, Mass.; and Shreveport, La. Jackson had 153 separate wind events and a maximum wind speed of 99 mph. The analysis considered the total number of wind events, as well as the total force of wind gusts of 60 mph or more for wind events dating back to 2006. Based on these factors, wind data for 293 cites was analyzed.
The rankings shift a little when the determination is based on wind speeds alone. Reno, Nevada recorded the highest wind speed at 119 mph.
"When looking at various natural hazards and the risk they pose, wind doesn't get as much attention as hurricanes, floods or wildfires which can cause widespread devastation in just a single event," said Lindene Patton, global head of hazard product development for CoreLogic. "However, wind-related damage is a serious and ongoing risk with about a third of all claims related to wind and hail." She adds that reviewing wind activity over multiple years makes it easier for insurers to identify trends in order to provide better coverage for homeowners.
The analysis also found that the highest straight-line wind speeds were found along the West Coast, but most of the wind events occurred east of the Rocky Mountains. The strongest straight-line winds tend to be found near large mountain ranges.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.