Insured property damage loss totals for April 2011 have set a Kansas record, according to figures compiled by the Kansas Insurance Department (KID).
Sandy Praeger, Commissioner of Insurance, said the April estimated property damage loss from storms stands at $502.5 million. The amount came from approximately 66,000 claims submitted throughout the state.
The previous one-month record for Kansas estimated property damage losses was $337.5 million in June 2008.
“The wind and hailstorms of April 3 and April 8 accounted for the majority of the claims reported for the property damage losses,” Commissioner Praeger said. “The April 3 storms were concentrated in northeast Kansas, while the Wichita area and south central parts of the state suffered wind and hail damage during the April 8 weather events.”
Property damage estimates for May are not available yet.
Including the April totals, 2011 estimated losses stand at $531.5 million, already the fourth highest yearly total for losses since the insurance department began keeping these records in the early 1990s, Commissioner Praeger said.
Estimated storm loss information consists of windstorm, tornado, and hail damage or other weather-related claim losses. Estimated flood losses and other insured perils are not included in the data. The numbers are gathered by private insurance companies selling and servicing property insurance coverage in Kansas, at the request of Commissioner Praeger.
“It appears that part of the record dollar amount in April is driven by higher material and labor costs,” Commissioner Praeger said.
Source: Kansas Insurance Department
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