You may be surprised to hear that the recent hail storm which hit Calgary, Airdrie, Rocky View County, and the surrounding areas has been officially labeled one of the costliest natural disasters in Canadian history. The 4thcostliest insurable natural disaster in Canadian history, to be precise, according to meteorological analytics company Catastrophe Indices and Quantification Inc. (CatIQ), which estimates CAD$1.2 billion in insurable damages.
If you weren’t affected by the hail you may have underestimated the scale of the storm due to relatively minor news coverage, having been largely overshadowed by other global predicaments. However, if you were in the impact-zone you will likely understand this was a hail storm unlike any other Alberta has ever seen. The damage went far beyond hoods of cars being dented, instead, thousands of cars are likely going to be written-off and tens of thousands of homes and businesses have severe damage from the tennis ball-sized hail (currently over 70,000 storm-related insurance claims are being processed).
According to CatIQ, the only three natural disasters in Canadian history which have a higher total insurable cost are (in order): The Fort McMurray wildfires in 2016 which had CAD$4 billion in damages; a 1998 ice storm which hit Eastern Canada in 1998 (CAD$2.3 billion in damages); and the flooding which hit southern Alberta in 2013 which totaled CAD$1.7 billion in insurable damage. It is important to note that this hail storm has reportedly impacted more people than the flooding, although the average claim amount is lower.
This number may balloon even higher in the coming weeks as the number of insurance claims raises. The insurance procedure has reportedly been slowed for many due to COVID-19. Although insurance companies have been deemed an essential service, extra safety precautions have reportedly slowed the process.
For many, this storm couldn’t have come at a worse time as people are just beginning to get back to work after the lockdowns required to fight COVID-19. For this reason, receiving a favourable insurance payout is now likely more important than ever. Unfortunately, there have been many reports of insurance claims being denied, leaving many Albertans high-and-dry.
If you’ve had a claim denied this isn’t the end of the process.
We at Guardian Law Group are experienced in dealing with insurance companies and can help you fight to get your claim approved, for as much as possible.
We will handle your insurance claim on a contingency basis, meaning we only get paid if you get paid. So if you’ve had an insurance company already tell you no, don’t lose hope. Fill out the form below and a Guardian will contact you shortly.