The devastating tornadoes that ripped through Oklahoma in May caused hundreds of millions of dollars in damage. Now, just about two months later, the number of insurance claims filed has broken the 75,000 mark. Those 75,000+ claims have resulted in insurers paying out almost $688 million in tornado insurance.
Live Insurance News has broken down some of the insurance stats following the tornado. It is clear that the folks in Oklahoma will be dealing with the aftermath for a very long time. Oklahoma insurance commissioner John Doak reported, "The claim filings are slowing down but they're nowhere near complete. Most policies allow for claims to be turned in up to one year from the date of loss."
More than $432 million of the payments have been from the more than 18,000 homeowner insurance claims related to the May 19 and May 20 tornadoes. The May 30 and May 31 tornadoes have resulted in nearly $97 million in claim payments. Private auto claims payments from the earlier tornadoes have reached more than $73 million and more than $27 million for the later tornadoes. Commercial property claims payments have reached $25 million for the earlier tornadoes and $2.5 million for the later ones.
Are you one of the thousands of people that were affected by the horrific May tornadoes in Oklahoma? Are you having trouble with getting your residential claim paid out and can't wait any longer? The Voss Law Firm, P.C. helps individuals who are facing opposition from their insurance companies or are already dealing with a denied claim. Call today for a free consultation at 888-614-7730.