Oklahoma Reports $138M in Car Claim Losses from May Storms

Oklahoma’s insurance regulatory department released figures this week showing more than $138 million in Oklahoma auto insurance losses from an outbreak of severe storms in May that left towns reeling from tornado damage.

May tornadoes that touched down on several parts of the state made national news headlines as they tore through towns including Moore and El Reno. The latest figures provided to us by the Oklahoma Insurance Department (OID) break down as follows:

Damage from May 19-20 Weather
24,738 car claims
$92.5 million in claim losses
Average claim size of $3,739

Damage from May 30-31 Weather
13,862 car claims
$45.5 million in claim losses
Average claim size of $3,281Total losses from personal auto claims slightly trailed commercial property claims losses, which totaled a little more than $145 million. Homeowners claims losses led other lines of coverage by far, with more than $700 million.

John Doak, OID’s commissioner, called the total losses, which has surpassed $1 billion so far, “staggering.”

“This is a major catastrophe that’s impacted thousands of Oklahomans,” Doak said in a statement. “Some survivors are still dealing with insurance and rebuilding issues. We can’t fix everything overnight, but we will be here for them until the last claim is paid.”

Kelly Collins, spokeswoman for the OID, said that car claims from the May tornadoes were closed “fairly quickly” compared to claims submitted under other lines of coverage.

“Homeowners and commercial property claims have a tendency to take longer because they are more complicated,” she said.

Rebuilding Effort Continues Along with Severe Weather

Disaster car wreckageThe OID will be hosting a “roundup” event to assist policyholders who have issues with claims and coverage. Attendees will include claims reps from major insurers and officials from impacted cities.

The event will be held in Moore, Okla., at Southmoore High School on Aug. 17 from 9 a.m. to 12 p.m.

Those seeking more information about the event can contact Collins at 405-522-0683.

Oklahoma is still dealing with harsh weather, which brought a “line of severe thunderstorms with powerful winds” that downed power lines in late July.

The latest advisories from the National Weather Service (NWS) are warning the state’s residents about the possibility of “damaging winds and large hail” on Wednesday that will stretch across parts of the Midwest.

(Photo courtesy of State Farm)

About Charles Nguyen
Charles Nguyen is an enterprising journalist who reported for Patch.com and the Desert Dispatch and was the editor in chief of the Guardian (the twice-weekly newspaper at the University of California, San Diego) before coming to Online Auto Insurance News.

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