. And remnants of that storm also recently caused severe flooding in the northeast.
As a result, many people have had not only their homes damaged, but also their cars. With an increase in claims due to the auto damage caused by the storm,
as insurance companies pay out billions of dollars in claims.
In fact, USA Today said there were $20 billion to $25 billion in estimated U.S. insured losses due to Hurricane Harvey and $40 billion to $60 billion from Hurricane Irma in 2017. According to
, the recent Hurricane Ida could see $15 billion to $30 billion in claims.
As USA Today reported back in 2017, neighboring states to those hit by the hurricanes that year stood to see rate increases in car insurance because some insurers calculate car insurance rates regionally.
The report pointed out that insurers actually can’t increase premiums in random states to make up for large payouts to hurricane victims—but it’s still possible for a ripple effect to occur.
But it’s not just severe hurricanes that cause car insurance rates to rise. According to USA Today, things like
can help. It can also help you find affordable car insurance rates even if you find you’re paying more after severe hurricanes have it.
Jerry compares quotes from up to 50 different insurance companies for you in under a minute, without any long forms to fill out.
Jerry will send you quotes that compare to your current coverage—and as a licensed broker, it takes care of your insurance needs from start to finish. The app also monitors your car insurance rate every six months on an ongoing basis.