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Houston’s powerful storm increases the possibility of insurance claims.

Houston’s powerful storm raises the possibility of insurance claims. The latest news is that due to the strong storm that hit Houston on Thursday evening, insurance companies may have to pay huge claims, Although it is too early to say anything about the loss. But the storm was so severe that by Friday afternoon, the news was confirmed that 5 people had died due to the storm, and more than half the population living in Harris County was still without electricity. Additionally, many people living in the area are facing damage to their homes, vehicles, and other properties due to fallen trees and flying debris caused by this devastating storm in Houston. National Weather Service storm survey teams say winds gusted to nearly 100 mph in downtown Houston, and it was the worst tornado to hit Cyprus.

Recovery Timeframe

Even the Texas Insurance Department has said that it will take us not weeks or days but many months to recover from the damage caused by this storm.

Cost of Houston’s powerful storm Insurance Claims

According to the Insurance Council of Texas, the total cost of insurance claims from a similar devastating hurricane in 2011 is reported to be $29 billion. Total insured losses were approximately $12 billion. The storm hit Houston at a time when many Houstonians were already shocked by a sudden sharp increase in their home or auto insurance premiums.

Texas Windstorm Insurance Association (TWIA) Response

The Texas Windstorm Insurance Association, which provides final policies to homeowners living in coastal counties and parts of Harris County before Texas 146, says as of Friday afternoon, it has not heard from people who have coverage from TWIA or Texas. There are policies under. More than under which, 250 claims have been filed on behalf of the company. FAIR Plan, which it also manages, provides home insurance in areas where risk makes it difficult to access the market.

Hippo’s Guidance to Homeowners

Hippo is one of the largest insurance providers operating in Houston. He expressed his views even in this challenging time. Mark Olson, Hippo’s director of corporate communications, said we ask homeowners to follow 3 basic steps after a storm like this:

  1. Ensure Safety: First and foremost, we want them to decide whether they and their loved ones are safe.
  2. Document the Damage: After this, we ask them to collect as much information about the storm as possible, like notes, photos, etc.
  3. Prevent Further Losses: Then finally we talk to our customers and try to decide how to reduce or prevent further losses.

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