The estimated insured damage of the six EF-2 strength tornadoes that hit Barrie, Innisfil, Kawartha Lakes, Little Britain, Lindsay, and Lake of Bays this summer has increased from $75 million to $100 million.
The damage estimate is based on surveys from Catastrophe Indices and Quantification Inc. (CatIQ).
The tornadoes on July 15th resulted in 10 injuries, 71 uninhabitable homes, and over 2,200 insurance claims for damage to personal and commercial property.
“Insurers have been in the community since day one, working hard to help their clients throughout the entire claims process, and will continue to work with policyholders,” said Kim Donaldson, Vice-President, Ontario, Insurance Bureau of Canada (IBC). “Your insurance representative is committed to helping you through this devastating event.”
“We are seeing some delays due to supply chain shortages caused by the pandemic. We ask for your patience and that you work closely with your insurer.”
Damage caused by wind is typically covered by home, commercial property, and comprehensive auto insurance policies.
“More can be done to prevent damage and injuries from severe wind events, including EF-0 to 2 tornadoes, the most common in Canada, through very low-cost and effective changes to national and provincial building codes,” said Donaldson.
IBC says Canada must develop a comprehensive plan to close governance gaps and improve climate defence overall, including enhancements to the building code to protect against severe wind events.