Memorial Day Tornadoes In Ohio: Insured Losses Exceed $500M

Insured losses from the Memorial Day tornadoes have passed an estimated $550 million, and the tally is still underway to determine how many tornado-damaged properties were uninsured.

The opening of federal aid assistance centers in the area last week should mean a clearer picture of how many tornado survivors had coverage and how many did not.

Experts say the number of uninsured with home damage will be high and recovery from the damage could take years.“We will likely be helping with repairs for not just in the next few months, but over the next few years,” said Norm Miozzi, executive director for Habitat for Humanity of Greater Dayton, which is seeking to help homeowners without insurance with rebuilding.

Claims from the Memorial Day tornadoes are so far at an estimated $550 million in insured property damage to homes, businesses and vehicles. A large number of properties that were hit are believed to have been uninsured or underinsured.