Gerald Banman from Harvest Insurance
Storm damage claims in the Southeast are on the rise this year according to one local insurance agent. Gerald Banman from Harvest Insurance in Steinbach says we have had a number of storms of which that have caused damage due to high winds and hail. In spring we had a rash of them at the end of May and then again in June 26th we had a fair bit of damage to a number of houses in our area and then again on July 3rd. He reports in his office there were close to 100 claims from the June and July storms. The average is about $5,000 to $10,000 in damage with some more then that. Banman feels this year it seems to be on going and of course is a good reason to have your insurance up to date.
Wind and hail are not the only claims he is seeing. For example on July 3rd, there were a number of power lines that went down which caused resulting damage because the power wasn't restored to a number of homes for up to 22 hours later. With no power your sump pump doesn't run and basements were getting flooded resulting in damage as a result of the sewer backup. Banman says damage can be quite significant with some very elaborate basements. He adds of course insurance companies respond and payout according to what kind of coverage they have.
Banman says in most cases repairs are underway. He feels that the insurance companies have been pretty diligent with it, people phone in the claim, they get an adjuster to notify the company and then they assign an adjuster to go out and adjust the claim. Of course there is always glitches trying to get trades people out to do the job especially if there is a high concentration of claims in an area. Banman notes people are also quite understanding, although "If you have 4-5 inches of water in your basement it’s not pleasant. It is a really disgusting thing, it is your house where you live and it is getting damaged. It is a tension filled time."
Agricultural operations have also fell victim to some of these storms. He says when you have high winds things like barns, hay sheds and pole sheds are found torn down or scattered all over the country side. In the Steinbach region after July 3rd, there was debris scattered in a wide area. It is a matter then for the owner of the property to assess what the damage is and then start the process. Banman admits that can take some time but there is quite an injection of money into the local economy to do these repairs.
When asked if severe weather claims are on the rise, Banman explained it's a complicated answer. In terms of claim frequency the numbers are up. Insurance companies set their rates and they look at things in terms of usually 7 years at a time. They renew things over a 7-year term and look at the weather patterns and see what’s been going on. Generally he is told that the weather patterns seem to be more sever then they used to be. However we have, in Southeastern Manitoba, a lot more development, lots more houses so there is going to be more damage because we simply have a lot more people living here.
Wind and hail are not the only claims he is seeing. For example on July 3rd, there were a number of power lines that went down which caused resulting damage because the power wasn't restored to a number of homes for up to 22 hours later. With no power your sump pump doesn't run and basements were getting flooded resulting in damage as a result of the sewer backup. Banman says damage can be quite significant with some very elaborate basements. He adds of course insurance companies respond and payout according to what kind of coverage they have.
Banman says in most cases repairs are underway. He feels that the insurance companies have been pretty diligent with it, people phone in the claim, they get an adjuster to notify the company and then they assign an adjuster to go out and adjust the claim. Of course there is always glitches trying to get trades people out to do the job especially if there is a high concentration of claims in an area. Banman notes people are also quite understanding, although "If you have 4-5 inches of water in your basement it’s not pleasant. It is a really disgusting thing, it is your house where you live and it is getting damaged. It is a tension filled time."
Agricultural operations have also fell victim to some of these storms. He says when you have high winds things like barns, hay sheds and pole sheds are found torn down or scattered all over the country side. In the Steinbach region after July 3rd, there was debris scattered in a wide area. It is a matter then for the owner of the property to assess what the damage is and then start the process. Banman admits that can take some time but there is quite an injection of money into the local economy to do these repairs.
When asked if severe weather claims are on the rise, Banman explained it's a complicated answer. In terms of claim frequency the numbers are up. Insurance companies set their rates and they look at things in terms of usually 7 years at a time. They renew things over a 7-year term and look at the weather patterns and see what’s been going on. Generally he is told that the weather patterns seem to be more sever then they used to be. However we have, in Southeastern Manitoba, a lot more development, lots more houses so there is going to be more damage because we simply have a lot more people living here.
Sun, May 19, 12:00 PM
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