Winter Surge In Insurance Claims
The winter months not only bring picturesque landscapes but also a host of challenges for insurance companies as they contend with an increase in claims. Homeowners face risks such as frozen pipes, roof collapses from heavy snow, and icy driveways that can lead to costly liability claims. And, winter doesn’t just mean cold temperatures and snow-related claims for insurance companies. For coastal states like Florida and those along the Gulf Coast, winter can mean an extended hurricane season or severe storms. These events can cause widespread damage from high winds, storm surge, and flooding, leading to a spike in both property and auto insurance claims. In the Pacific Northwest, states like Oregon have experienced severe winter storms that caused extensive property damage. For example, in 2024, Oregon accounted for 77.1% of winter weather-related property damage in the U.S., totaling $47.6 million in claims. Several additional areas of the United States have experienced an increase in insurance claims due to weather-related events:- California: Storm-related insurance claims have increased dramatically in California, particularly during El Niño years.
- Coastal Regions: Areas along both the Atlantic and Gulf coasts have seen a rise in claims related to storm surge and flooding, even from less intense storms due to sea level rise.
- Mountain West: States like Colorado and Utah have reported more claims related to severe winter weather, including heavy snowfall and subsequent spring flooding.
- Northeast: This region has experienced an increase in claims from more frequent nor’easters and severe winter storms, causing damage from heavy snow, ice, and coastal flooding.