New Mexico Insured Tornado Losses Estimated at $16.5 Million

Tornado and hail that tore across New Mexico in March has an estimated insurance price tage of $16.5 million, according to the Rocky Mountain Insurance Information Association.

The association said insurance adjusters have been busy in Clovis, Logan, Roswell and surrounding areas during the past several weeks helping residents recover from the March 23rd spring storm. The cost includes funds to repair and replace homes and damaged vehicles. Nearly 5,200 homeowner and auto claims have been filed, RMIIA said.

“While the tornado damage is more devastating, the hailstones battered more cars and homes — adding up to more expensive, widespread damage,” says Carole Walker, RMIIA executive director. “So far, the number of vehicles damaged is more than double that of homes with more than 3,600 auto claims and about 1,500 homeowner claims being reported.”

The Rocky Mountain Insurance Information Association advised that tornado and hail damage is covered under an auto policy if the policyholder has comprehensive coverage. Damage from hail, wind and tornadoes are covered under a standard homeowner’s policy.

Source: RMIIA