CoreLogic® estimates $8.7 billion in insured wind and hail damage from U.S. storms
Severe thunderstorm activity from June 11-15 brought strong straight-line winds, record-sized hail, and tornadoes, causing substantial damage to property across the United States. Wind speeds in excess of 100 mph and hail greater than four inches in diameter were recorded in Denton County, Texas.
CoreLogic® estimates that the straight-line winds and hail from June 11-15 caused between $7 and $10 billion in insured losses. This loss estimate encompasses hail damage and straight-wind damage and was enabled by CoreLogic’s weather monitoring technology, which allows for comprehensive tracking of all losses from severe convective storm events.
This loss estimate includes damage to residential, commercial, and industrial property, as well as automobiles. The estimate also excludes damage to infrastructure such as roads, utilities, and governmental facilities. Hail alone is estimated to make up 95% of losses from this event, making it one of the biggest hail losses in history.
RQE Model Users: Custom Event Footprint
Clients who license the CoreLogic U.S. Severe Convective Storm Model on Risk Quantification & Engineering (RQE) can access a custom event footprint, representative of the June 11-15 straight-line wind and hail activity (see Figure 1 below), to model against their portfolio. For more information, please email HazardRisk@corelogic.com, contact your Client Success Manager, or schedule a demo with a Sales Representative.
Severe Thunderstorm Straight-Line Wind and Hail Maps
The week-long composite straight-line wind and hail swath maps are provided in Figure 1 below.
The straight-line wind and hail maps above are powered by CoreLogic Weather Verification Services™ (WVS). CoreLogic WVS combines the best aspects of point observations — providing a high degree of accuracy — and radar technology, high-resolution patterns. Proprietary algorithms generate wind speed maps with a high degree of geographical precision at neighborhood-level detail (500-meter resolution). These digital tools offer 100% coverage of the continental U.S.
Residential Property Impacts
CoreLogic WVS estimated the number of single-family and multifamily residential properties exposed to severe straight-line winds and hail.
Straight-line winds in excess of 60 mph may have affected more than 2.9 million homes, particularly in Florida, Missouri, and Georgia (Table 1). Hail greater than one inch may have affected more than 1 million homes, particularly in Texas, Arkansas, and Oklahoma (Table 2).
Materials Matter When Mitigating Hail Damage
Generally, a hail storm is a vertical load that causes severe damage to roofs, walls, and openings, such as skylights, windows, and doors. According to an evaluation of property insurance claim data in Dallas-Fort Worth, written by Brown et al., 2015 and cited in CoreLogic’s U.S. Severe Convective Storm Model documentation, damage to roofs accounted for 91.7% of the total number of claims during the hail storm that prompted the study. Damage to walls, doors, and windows accounted for a combined 2.3% of the total number of claims from the same event.
Roofing material factors heavily into whether a hail storm will damage a property’s roof. According to Brown et al., 2015, asphalt shingling has a hail diameter size damage threshold of one inch. Concrete tiles have a hail diameter size threshold of two inches.
Additionally, roofs can be rated for impact resistance on a scale of one to four, with roofs of a higher rating being more resistant to hail-related damage.
Disclaimer: Please note that not all properties within the hail swaths sustained damage. Additionally, the degree of damage to structures may vary, as a damaged structure may not have incurred a total loss equal to the full RCV. The number of damaged properties will be a subset of the total homes within the hail swaths.
CONTACT: Please email HazardRisk@corelogic.com with questions about the June 11-15 severe weather outbreak, Weather Verification Services, RQE, or any CoreLogic event response notifications. Please visit www.hazardhq.com for updates and information on catastrophes across the globe.
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