The May 10 storms that spawned hail and tornadoes that swept through central Oklahoma will cost insurance companies about $595 million, an industry group estimated today.
Those losses, estimated by the Insurance Services Office, Property Claim Service, include $475 million in personal property, $40 million in commercial losses and $80 million in vehicle damage, said Jerry Johns, president of Texas-based Southwestern Insurance Information Service.
The damage estimate does not include losses involving many publicly owned properties and utilities that are often self-insured, or flood damage insured through the National Flood Insurance Program, Johns said.
The total also doesn't include the damage caused by storms that dumped large hail on the metro area a couple of days later.
The May 10 storms delivered "an amazing amount of damage," Johns said. "The hailstorm is going to be an amazing amount of damage as well."