Texas’s Brutal Winter Storm To Bring A Glut Of Insurance Claims
Crippled by a winter storm, Texas is becoming a hotbed of insurance claims.
State Farm Mutual Automobile Insurance Co., the biggest home insurer in the state, has already seen as many claims because of frozen pipes in Texas as it had across the U.S. all of last year, according to a spokesman.
United Services Automobile Association said it’s already received more than 20,000 claims tied to the weather and the Insurance Council of Texas said it expects hundreds of thousands of claims from vehicles, homes, businesses and renters.
Texas is reeling after four days of widespread blackouts and water shortages, and millions have been left in the dark. Homeowners are struggling with nasty side-effects including frozen pipes and water damage.
Winter storms like this one can also spur fire claims as residents seek ways to keep their homes warm, according to Brian Haden, whose Haden Claims Services works as an adjuster representing policyholders.