With the catastrophic 2017 hailstorm in Denver and it’s $1.4 billion in insured losses still a recent memory, hail alley residents are asking themselves if there is worse to come.
Extreme weather events – heat, cold, blizzards, flooding, hurricanes, thunderstorms and tornados are on the rise in the US. Weather disaster costs for 2018 topped $155 billion, down only slightly from 2017.
According to CBS News: While 2017 was the worst year for hail damage, 2019 is already “off and running,” insurance experts say.
• Hail now costs the U.S. as much as $22 billion a year in damage to homes, cars, crops, people and more.
• Baseball-sized hail stones are common, but the biggest this year was the size of a grapefruit and weighed more than half a pound.
• The bigger they are, the harder they fall: A dime-sized hailstone falls at 20 miles per hour, while a baseball-sized one of 3 to 3 ½ inches can reach between 80 and 110 mph
Taken as a whole, “convective storm losses,” which include both tornadoes and hailstorms, have been on the rise since the start of the 21st century, according to Munich Re, one of the world’s largest reinsurers. A study by Verisk Risk Solutions, entitled “Hail, the Hidden Risk,” showed that the cost of hail damage had steadily risen through 2014 – even before the massive storm losses of 2017 and 2018.
While we all have to live with the weather, you can have a roof inspection done to learn if you have existing hail damage. Undetected damage can have serious consequence for the value and safety of your home or investment properties. If you would like to schedule a free roof inspection, please contact Home Repair Advisors today.