Nearly 80% of Iowa’s Massive Derecho Insurance Claims Have Been Paid
Three months ago today, 2020 did what no one in Iowa thought it could. It got worse. So much worse. A derecho packing winds up to 140 miles-per-hour swept through eastern Iowa that afternoon and the damage it left behind was unthinkable. Now we have a much better idea of the total costs of the storm in the state.
According to the Iowa Insurance Division (IID), 200,597 different insurance claims have been filed in the state, as of last Monday, November 2. More than half of the claims (103,884) have come from Iowa homeowners. Almost 160,000 of the total claims (200,597) have been paid, with a total of over $1.6 billion paid to residents and businesses thus far. The IID says over a billion additional dollars is being kept in reserve by insurance companies to pay for remaining claims.
Iowa Insurance Commissioner Doug Ommen says,
Given the extremely large number of claims, our office has received just over 90 complaints overall related to the derecho... This event is quite historic in scope and it’s important to be as patient as possible given the other national weather events that also happened during our recovery, but I encourage both companies and consumers to continue to communicate in order to get the remaining claims resolved expeditiously. The Iowa Insurance Division is here for consumers if they need to file a complaint.
Complaints can be filed HERE.
Below are the four categories with the highest number of claims reported, the total amount of money paid in the category, and number of claims paid. You can see the full list HERE.
- Claims Reported Amount Paid Number of Claims Paid
- Homeowners 103,884 $876,803,215 81,472
- Farmowners 40,196 $190,997,753 19,965
- Private Auto 18,902 $71,261,949 12,464
- Commercial 13,213 $335,410,281 22,122