News Hail claims for vehicle damage spiked in 2011

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Insurance losses for hail-related damage to vehicles more than doubled last year compared with the previous three years, an analysis by the Highway Loss Data Institute (HLDI) shows. Using information from insurers about weather-related losses under comprehensive coverage, HLDI matched the dates of those claims to hail events recorded by the National Oceanic and Atmospheric Administration to determine which claims were for hail damage.

The results showed a frequency of 5.9 claims per 1,000 insured vehicle years in 2011, compared with 2.9 in 2008 and 2009 and 2.7 in 2010. Overall losses in 2011 were $19 per insured vehicle year compared with $8-$9 in the other years. The analysis excluded any hail storms that accompanied tornadoes, since it would be impossible to determine which weather event caused the damage that led to the claim.

Hail claims are primarily concentrated in the Midwest, with states such as South Dakota, Nebraska, Kansas and Oklahoma frequently showing high rates. However, hail can occur almost anywhere, and many of the high claim rates last year were seen in states that don't typically have many hail claims.

HLDI bulletin: Hail-related claims under comprehensive coverage, April 1, 2012

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