Statistics from the Texas Department of Insurance show that hail caused $10.4 billion in residential damages between 1999 and 2011, which makes hail a more costly loss event in Texas than hurricanes and tornadoes combined. Although major catastrophes like hurricanes may cause more extreme and visible damages, hail seems to chip away at roofing and break a few windows—but the damage to properties may be deeper than it initially seems. This is why business owners in Texas need to be prepared to promptly and effectively handle losses from extreme weather.
Hailstorms Can Cause Millions of Dollars of Damage to a Business Overnight
In 2012, two hailstorms in southern Texas caused a combined $330 million just in residential damages, and businesses were not immune to the large-scale damage the storms left behind. Hail damage can decimate a property literally overnight, and both homeowners and business owners are sometimes battling long waits for resolution with their insurance companies and unpleasant revelations that their hail damages go deeper than they initially seemed. Because hail damage can be so unpredictable and costly, Texas businesses and commercial property owners need to take steps to make sure they are adequately covered in the event of hail losses, understand their insurance coverage, and know how to mitigate the effect of the storm on their businesses.
Does your business need help with a difficult hail insurance claim? Start getting answers today by requesting your free copy of our book, Commercial Insurance Claims: The Basics, or contacting our law office at 888-614-7730.