Calgary hailstorm caused $1.2 billion in insured damagesBy The IJ Staff | July 09 2020 10:00AM
Insurers will be paying out almost $1.2 billion in insured damages as a result of the hail, rain and windstorm that hit Calgary, Airdrie, Rocky View County and the surrounding area on June 13, announced the Insurance Bureau of Canada.
The amount of insured damage is an estimate provided by Catastrophe Indices and Quantification Inc. (CatIQ) under licence to IBC.
Most of the damage was to personal property and vehicles, with a smaller percentage of damages to commercial property.
"This event was fourth most expensive insured natural disasters in Canadian history. Our thoughts are with those affected by this devastating storm, and we are here to help Albertans fix their homes, cars and businesses," said Celyeste Power, Vice-President, Western, Insurance Bureau of Canada (IBC), in a statement July 8. "
Damage caused by hail and wind is typically covered by home, commercial and comprehensive auto insurance policies.