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Claims from Hurricane Sandy continue to mount for State Farm

Thu, 13 Dec 2012 11:49:46 CST
By: Charlie Schlenker

As musicians sang to raise money for relief of damage done by Superstorm Sandy, insurance claims continue to trickle in. The latest update from Bloomington-based State Farm Insurance indicates more than 126,000 thousand home and auto claims have been filed by residents of the 11 states hit by Sandy. Nearly 109,000 of those claims are from homeowners. Most come from New York, New Jersey, and Pennsylvania. State Farm has not yet released dollar estimates on claims to be paid. Industry wide, Sandy is estimated to have cost Insurance carriers $10 to $20 billion. That does not take into account flooding damage, which usually is covered under a federal program. But, industry watchers estimate Hurricane Sandy is already more expensive than many severe storms including Hurricane Ike in 2008, Ivan in 2004, and last year's Hurricane Irene. Total economic and property damage from Sandy is estimated at up to $50 billion.

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