The hail, rain and windstorm that hit Calgary, Airdrie, Rocky View County and the surrounding area on June 13 caused almost $1.2 billion in insured damages, according to Catastrophe Indices and Quantification Inc. (CatIQ).
The majority of the insured damage is to personal property and vehicles, with a smaller percentage of damages to commercial property, said the Insurance Bureau of Canada in a news release.
“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). “Insurers will be on the ground assisting until the work is done. If residents have insurance questions, they can also contact IBC’s Consumer Information Centre at 1-844-2ask-IBC. We are here to help.
“Albertans know too well the stress, turmoil and financial hardships that severe weather events can cause. Of the 10 most costly disasters in Canada, six of these have hit Alberta. Fortunately, Albertans are resilient and continue to come together in difficult times like these.”
The Bureau said damage caused by hail and wind is typically covered by home, commercial and comprehensive auto insurance policies. In addition to the $1.2 billion in insured damages, the Government of Alberta announced financial support for residents who experienced overland flooding as this type of insurance can be less available in flood prone areas, it added.
The Bureau said the recent Calgary hailstorm is the costliest hailstorm in Canadian history and the fourth costliest natural disaster of all time. The most expensive insured natural catastrophe on record is the 2016 Fort McMurray wildfire, which cost almost $4 billion. The next highest loss was in 2013, which was $3.5 billion and included the flooding in southern Alberta.
