Photo: Chester Wiker/Adobe Stock
The winter storm that impacted most of the United States in January caused an estimated $6.7 billion in insured losses, according to Karen Clark and Company.
Fitch also estimates insured losses at about $7 billion, while Verisk says the total should be about $4 billion.
Winter Storm Fern impacted 230 million people and lasted several days, bringing snow and freezing temperatures to the East, South and Midwest.
"The ice felled trees and brought down power lines, which caused widespread power outages from east Texas to Kentucky, as well as southern New Mexico," KCC said in a statement.
More than 220,000 customers lost power during the storm, and in some places, it took several days for power to be restored. The storm was responsible for at least 69 deaths in 13 states.
Texas and Tennessee saw the largest estimated losses, according to the report, but damage and insured losses occurred in more than 30 states. Burst pipes were a common claim.
Following the storm, President Donald Trump approved federal emergency disaster declarations for 12 states.
According to Verisk, the storm is on track to be the third costliest U.S. winter storm in recent history. The costliest storm, Winter Storm Uri, hit the United States in 2021, resulting in insured losses of about $15 billion to $20 billion.
Photo credit: Chester Wiker/Adobe Stock
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