More than half of all hail-damage claims made against home insurance policies in the United States due to catastrophic storms came from just two states — Colorado and Texas, according to LexisNexis Risk Solutions.
The two states accounted for 51 percent of hail-related home claims suffered between March and May of last year, with Colorado alone accounting for 13 percent of the total of catastrophic storm claims.
“Colorado was an outlier in terms of the number of claims coming in,” said George Hosfield, senior director of home insurance at LexisNexis Risk Solutions.
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A storm that dropped massive hail stones across the metro area during rush hour on May 8 last year generated $2.3 billion in home and auto claims, making it the most damaging in state history.
That storm was so powerful it contributed to a 10-fold jump in catastrophic storm claims against home policies due to hail versus 2016.
Hosfield said the public tends to think of tornadoes and hurricanes as the most devastating homewreckers. But it is actually hail, which hits Colorado’s eastern third with some of the highest frequency of any part of the country.