5 ms·
A bad hail storm comes close. Hail damage can total a car.
by SoftTalker 11mo ago
A bad hail storm comes close. Hail damage can total a car.
- hardolaf 11mo agoCars are the cheap part of auto insurance claims.
- cjrp 11mo agoExactly this; damaging a building or causing the death of a person can be 10x+ more costly for the insurer.
- bluGill 11mo agoOnly when you are looking at one claim. If all the cars in a city get hail damage the total costs exceed the typical daily claim losses.
- prepend 11mo agoI think the point is that it’s much less than all the cars. And a hailstorm that knocks out 10,000 cars is very rare. But hurricanes or fires that knock out billions in homes happen almost every year.
- rasz 11mo agoEuro importers love hail damaged Copart cars, very cheap to fix here.
- duskdozer 11mo agoWould auto insurers have enough insured cars within the area of a hailstorm to matter though?
- bdamm 11mo agoThis is why insurance companies pay cloud seeders to move thunderstorms and reduce the probability of massive hail claims.
- taneq 11mo agoThis is true, we had a bad hail storm come through in 2010 that dimpled an appreciable fraction of the cars in the city like golf balls. Most were deemed repairable write-offs. Went right over a couple of luxury car yards. A bunch of people at my work moved our cars undercover 10 minutes before it hit, and felt kind of silly… for 10 minutes, until it hit. Car insurance premiums jumped by quite a lot that day, as far as I can tell permanently.