Triple-I: P/C Insurers Are Financial First Responders Helping Customers Recover from Severe Tornado Outbreak

U.S. property, auto and business insurers are assisting disaster victims after dozens of deadly tornadoes tore across multiple states over the past several days, damaging thousands of homes and business structures, according to the Insurance Information Institute (Triple-I).

“Property/casualty insurers are the nation’s financial first responders and many already have rapid response teams on the ground in the hardest-hit areas to help policyholders file claims and begin a speedy recovery process,” said Sean Kevelighan, CEO, Triple-I.

“Contacting an insurance professional is a best first step for policyholders to get their recovery process underway,” Kevelighan added.

Damage Covered by Insurance

Property damage caused by tornadoes is covered under standard homeowners, condo, renters and business insurance policies, as well as the optional comprehensive portion of an auto insurance policy.

U.S. insurers paid out nearly $54 billion in severe convective storm claims in 2024, which includes tornado damage, according to Triple-I.

Filing an Insurance Claim

Policyholders should contact their insurer as soon as possible to obtain the assistance they need to recover from a loss. Most insurers enable their customers to file a claim via either a mobile app or online. Insurance agents can also help their customers file claims. Triple-I offers the following recommendations when tornado-caused property damage occurs:

Checklist for Homeowners, Condo Owners, Renters and Auto Policyholders

• Contact your insurance professional and start the claims filing process.
• Take photos of the damage. A photographic record eases the insurance claim process.
• If necessary, make temporary repairs to prevent further loss from rain, wind or looting; these costs are reimbursable under most policies, so save all repair-related receipts.
• Compile a detailed list of all damaged or destroyed personal property. Do not throw out damaged property until you meet with an insurance adjuster. If you have a home inventory, it will make the claims-filing process easier.
• Hold off on signing repair contracts. Deal with reputable contractors and get references. Be sure of payment terms and consult your insurance adjuster before signing any contracts.
• Check to see if you are eligible for additional living expenses/loss of use coverage. Standard home, condo and renters insurance policies pay for the extra charges (e.g., temporary housing, restaurant meals) you incur over and above your customary living expenses if your home is uninhabitable because of an insured loss. Save all related receipts and, if you have vacated your home, make sure your insurer knows how to contact you.

Checklist for Small Business Owner Policyholders

• Small business owners should follow the same advice as above when it comes to filing a property damage claim.
• If your business is forced to close temporarily or relocate because a tornado caused physical damage to your premises, file either a business interruption or extra expense claim if you carry these coverages.
• Before filing a business interruption policy claim, document your net income and operating expenses, including payroll, both before and after the business was disrupted.
• Keep detailed records of all business expenses and transactions as your business recovers.

RELATED LINKS:

Articles: Settling Insurance Claims After a Disaster; Filing a Business Insurance Claim

Video: Tornado Tips: Reporting Damage and Loss

About the Insurance Information Institute (Triple-I)

Since 1960, the Insurance Information Institute (Triple-I) has been the trusted voice of risk and insurance, delivering unique, data-driven insights to educate, elevate and connect consumers, industry professionals, policymakers and the media. An affiliate of The Institutes, Triple-I represents a diverse membership accounting for nearly 50% of all U.S. property/casualty premiums written. Our members include mutual and stock companies, personal and commercial lines, primary insurers and reinsurers – serving regional, national and global markets.

About The Institutes

The Institutes® are a not-for-profit comprised of diverse affiliates that educate, elevate, and connect people in the essential disciplines of risk management and insurance. Through products and services offered by The Institutes and nearly 20 affiliated business units, people and organizations are empowered to help those in need with a focus on understanding, predicting, and preventing losses to create a more resilient world.

The Institutes is a registered trademark of The Institutes. All rights reserved.

Press Contact: Media@iii.org

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