ICT âprojecting hundreds of thousands of claimsâ after winter weather
Last week, insurance agency State Farm saw 37,000 claims.
AUSTIN, Texas - The Insurance Council of Texas, or ICT, is projecting hundreds of thousands of claims, after winter weather swept the state resulting in broken pipes, water damage, and car crashes. We’re looking at a statewide event which is, again, we’ve all heard this word, unprecedented, but it’s one of those events where resources are being taxed, said Camille Garcia of ICT.
Garcia says most claims are connected to frozen and burst water pipes. Last week, insurance agency State Farm saw 37,000 claims. Spokesperson Chris Pilcic says most of those are related to broken pipes. So to put this into some perspective.last year in the state for the entire year we had 75 of those claims, he explained.
The head of a national consumer advocacy organization predicts insurance companies will raise already high homeowners insurance premiums in Texas after frigid temperatures and brutal storms caused billions in damage across much of the state.
Jamie Court, president of Los Angeles-based Consumer Watchdog, which has fought insurance fraud and advocated for consumers after disasters, said homeowner policies are required by law to cover most damage caused by the winter storms, unlike other natural disasters.
“This was just a winter storm. It wasn’t a hurricane. And that is what your home insurance is there for,” Court said. “I think they are going to be on the hook for these claims.”
Many people lost a lot of food in their refrigerators and freezers when the power was out last week. But there are ways you can collect up to $500 to replace it.
The total value of losses is still being tallied, but the severity and geographic scope of the storm has meant that the total cost could exceed the $19 billion in damage inflicted by Hurricane Harvey in 2017.
Published: Wednesday, February 24, 2021
People lining up to get clean water in Austin, Texas. Photo credit: Mario Cantu/Cal Sport Media/Newscom
People waited in line for free potable water at a brewery in Austin, Texas, Friday after freezing weather caused millions of Texans to lose electricity and clean water. Mario Cantu/Cal Sport Media/Newscom
Furor over last week s Texas power crisis showed no sign of subsiding yesterday as five grid directors announced plans to resign, financial troubles mounted and President Biden scheduled a Houston visit to mark the disaster.
Even with power back for most Texans, many are struggling to find available workers who have the supplies to fix broken pipes and repair water damage in the wake of subfreezing temperatures and lost electricity.