Mass. Tornadoes Cause Millions in Auto Insurance Claims

2011-06-23 15:33:56 (GMT) (WiredPRNews.com - Auto News, Press Releases, insurance)

Boston, MA (WiredPRNews.com) The Bay State’s Division of Insurance announced last week updated numbers to the growing claims count filed in the wake of recent tornadoes. According to regulators, a total of 3,700 Massachusetts auto insurance claims were filed as of June 16, amounting to $15 million in damages.

Car damage claims accounted for 45 percent of the total claims count for all coverage types, but only 11 percent of the total loss amount from the tornadoes.

For all coverage types, the division says there had been 8,200 claims filed for $140 million worth of damages. That sum increased by $50 million between June 7 and June 16.

Source: http://1.usa.gov/j8YVm0

Most of the auto claims filed are likely to be under comprehensive coverage, a type of car insurance that is not required by state law but will provide financial protection for most losses that are caused by incidents unrelated to collisions, such as vandalism, theft and acts of nature.

A couple states away, Ohio coverage providers are reporting near-record losses from a string of storms that occurred during a weeklong period in late May. According to the Ohio Insurance Institute, that cluster of storms could total $400 million statewide. Of the preliminary estimates, 40 percent of the claims were filed under car coverage, accounting for 25 percent of total estimated insured losses.

To learn more about this and other Massachusetts financial protection issues, readers can go to http://www.onlineautoinsurance.com/massachusetts/ where visitors will have access to informative resource pages and a quote-comparison generator that can help jump-start the search for a quality policy.