GITNUX MARKETDATA REPORT 2024

Statistics About The Average Insurance Payout For Hail Damage Car

With sources from: netquote.com, hailwise.com, weather.com, autoinsurance.org and many more

Statistic 1

The average insurance claim for car hail damage is about $3,000.

Statistic 2

Hail damage is among the top 5 reason for auto insurance claims in the U.S.

Statistic 3

Texas, Colorado, and Nebraska pay out the highest claim frequency costs each year due to hail damage.

Statistic 4

The top five states for hail loss claims between 2016 and 2018 were Texas, Colorado, Missouri, Nebraska, and Illinois.

Statistic 5

Over 10.7 million U.S. properties were affected by hail events in 2019.

Statistic 6

The average cost to repair car hail damage at an auto body shop is between $2,500 and $7,500.

Statistic 7

Hail storms can cause up to $1 billion dollars in total damage in the U.S. each year.

Statistic 8

Missouri has over 20,000 hail damage claims annually.

Statistic 9

Auto insurers paid out over $3 billion to cover hail damage claims in Texas alone in 2017.

Statistic 10

Hail damage claims increased by 48% between 2016 and 2018.

Statistic 11

An estimated 5-10% of all insurance claims for auto damage are hail-related.

Statistic 12

There has been a 19% increase in hail damage claims over the past ten years.

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In this post, we explore the significant impact of hail damage on car insurance claims in the United States. With statistics revealing the average payout for hail damage, the states most affected, and the staggering costs involved, it becomes clear just how prevalent and costly these weather events can be for both insurers and vehicle owners.

Statistic 1

"The average insurance claim for car hail damage is about $3,000."

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Statistic 2

"Hail damage is among the top 5 reason for auto insurance claims in the U.S."

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Statistic 3

"Texas, Colorado, and Nebraska pay out the highest claim frequency costs each year due to hail damage."

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Statistic 4

"The top five states for hail loss claims between 2016 and 2018 were Texas, Colorado, Missouri, Nebraska, and Illinois."

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Statistic 5

"Over 10.7 million U.S. properties were affected by hail events in 2019."

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Statistic 6

"The average cost to repair car hail damage at an auto body shop is between $2,500 and $7,500."

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Statistic 7

"Hail storms can cause up to $1 billion dollars in total damage in the U.S. each year."

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Statistic 8

"Missouri has over 20,000 hail damage claims annually."

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Statistic 9

"Auto insurers paid out over $3 billion to cover hail damage claims in Texas alone in 2017."

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Statistic 10

"Hail damage claims increased by 48% between 2016 and 2018."

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Statistic 11

"An estimated 5-10% of all insurance claims for auto damage are hail-related."

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Statistic 12

"There has been a 19% increase in hail damage claims over the past ten years."

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Interpretation

The statistics presented highlight the significant impact hail damage has on auto insurance claims in the U.S., with Texas, Colorado, and Nebraska consistently facing high claim frequency costs each year. The average insurance claim for car hail damage is substantial at around $3,000, with repair costs ranging between $2,500 and $7,500. The data also reveals the extensive financial toll hail storms can take, causing up to $1 billion in total damage annually. With a notable increase in hail damage claims in recent years and a sizeable number of properties affected by hail events, it is evident that insurers play a crucial role in managing the financial aftermath of these natural disasters.

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