2024 felt like a scene out of a disaster movie for property owners across the United States. Relentless hailstorms—with some producing record-breaking hailstones over six inches in diameter—battered properties and overwhelmed insurers. While the physical damage was evident, the financial fallout, particularly rising insurance premiums, continues to burden property owners.

Here’s how the 2024 hail season reshaped insurance premiums and what property owners need to know.

2024 Hailstorms by the Numbers: The Devastation in Context

The 2024 hail season left billions of dollars in damages in its wake. NOAA’s preliminary data highlights that hailstorms in key states, including Texas, Nebraska, and Oklahoma, caused significant destruction. Texas alone reported hailstones exceeding 6.4 inches in diameter during a May storm—one of the largest hailstones recorded in the U.S. this year.

In Nebraska, hailstorms ravaged both urban and rural areas, with agricultural losses compounding property damage costs. Nationwide, damages from hail-related storms contributed significantly to the year’s $23 billion in insured severe storm losses.

The sheer volume of claims has not only stressed insurance carriers but also prompted discussions about how to price future risks effectively. To learn more about how the increase of natural disasters has been impacting premiums, read our full blog: Is Insurance A Fading Safety Net?

Why Are Premiums Rising After the 2024 Hail Season?

The connection between hailstorms and rising premiums isn’t new, but the 2024 season has pushed insurers to adopt even stricter measures. Here’s why:

1. Unprecedented Claims Payouts

With 2024 producing some of the largest hailstorms on record, insurers faced an overwhelming volume of claims. NBC News reported, “So far this year in the U.S., thunderstorms have been responsible for about $61 billion in economic losses, according to Bowen. Hail was likely responsible for between $31 billion and $49 billion of that total. In the same period, tropical storms and flooding together have accounted for $14 billion in losses.”

2. Rising Repair Costs

The cost of repairs has surged, fueled by inflation and material shortages. Roofing materials, a frequent victim of hail damage, saw price increases of over 20% in 2024, while labor shortages consequently slowed repair times. These factors have driven up claim costs, prompting insurers to adjust premiums accordingly.

3. Advanced Risk Modeling

Insurers are relying on updated climate models that predict increasingly severe hailstorms in the future. These models influence underwriting practices, resulting in higher premiums for properties in hail-prone regions. Even though hailstorms “cause more monetary damage annually than tornadoes, on average, research on the former had stalled until recent advances in radar and weather modeling,” Evan Bush, NBC News. Several institutions plan to conduct field studies around hailstorms and their growing intensity.

How Premium Hikes Are Affecting Property Owners

Property owners in hail-prone areas are already feeling the financial sting. Texas consistently leads the nation in billion-dollar weather disasters, driving property insurance costs to unprecedented levels.

- - Stricter Policy Terms: Policyholders may also encounter changes such as higher deductibles for hail damage, exclusions for cosmetic repairs, or coverage limits. This has left some homeowners vulnerable as they scale back coverage to keep premiums manageable.
  - Underinsurance— A Growing Concern: Rising premiums are driving underinsurance, with property owners opting for reduced coverage or higher deductibles. This trend could leave many underprepared for the next hailstorm season. To learn more about underinsurance, read our blog, Are You Underinsured?

To find out if there are any gaps in your coverage, submit your insurance policy for review today!

What Can Homeowners Do to Navigate These Changes?

While rising premiums are challenging, property owners can take proactive steps to help mitigate the financial impact, for example:

1. Invest in Impact-Resistant Materials

Opting for impact-resistant shingles or metal roofing can qualify homeowners for discounts. These materials reduce the likelihood of severe hail damage, lowering the risk for insurers.

2. Conduct Regular Policy Reviews

Regularly reviewing your insurance policy with a qualified professional can help identify coverage gaps and potential savings. This ensures you’re adequately protected at the least amount of cost possible.

3. Work with a Public Adjuster

If your property sustains hail damage, consider working with a public adjuster like Premier Claims. Public adjusters can help maximize your settlement and help ensure you’re compensated fairly for all damages.

4. Advocate for Legislative Action

Collaborating with state governments to establish reinsurance programs or stabilization initiatives can help mitigate premium hikes for hail-prone communities.

A Glimpse into the Future: Will 2025 Be Any Better?

Early forecasts suggest that 2025 may bring similar challenges, with weather models predicting another active hail season. Property owners can take proactive measures now, from upgrading roofing to revisiting their insurance policies, to prepare for the next round of storms.

The 2024 hail season underscored the need for property owners to stay informed and proactive. Rising insurance premiums are a direct response to the staggering costs of hail damage, but there are steps you can take to minimize the financial burden. Whether it’s through impact-resistant upgrades, policy reviews, or public adjuster services, preparation is key to weathering the storm—both literally and financially.

Winter Prep for Property Owners

Winters are no joke for snow-prone states. With temperatures plummeting and snowstorms likely inevitable, now is the time to start winter-proofing your property. By taking proactive steps, you can save yourself from headaches and costly repairs. Whether you’re a seasoned property owner or new to the fierce winter weather, we’ve collected key tips to help prepare your property.

1. Inspect and Repair Your Roof

Your roof is your property’s primary shield against winter storms. Any weakness— a missing shingle, loose flashing, or an unnoticed leak—can create a disaster once the snow piles up. Snow and ice build-up adds significant weight to your roof, and if there’s already damage, it increases the risk of leaks or even a roof collapse.

We Recommend:

- - Schedule a professional inspection to check for loose shingles or hidden damage.
  - Ensure all flashing, the thin metal material that seals and protects joints around chimneys, vents, and other roof openings, is securely in place.
  - Adding extra insulation in your attic can help prevent ice dams by stopping warm air from escaping and melting roof snow.

2. Clear Your Gutters and Downspouts

Falling leaves and debris often clog gutters during the fall, which can become a serious issue during winter. Clogged gutters prevent water from draining properly, leading to ice dams—when water gets trapped and freezes, causing roof damage and leaks.

We Recommend:

- - Remove leaves, twigs, and debris from your gutters and downspouts.
  - Ensure downspouts direct water at least 5-10 feet away from your foundation to prevent pooling.
  - Consider installing gutter guards to help prevent ice dams and clogging.

3. Protect Your Pipes from Freezing

Frozen pipes are a property owner’s worst nightmare. When water inside pipes freezes, it expands, putting immense pressure on the pipes. This can cause them to burst, leading to water damage, costly repairs, and a long-term headache. The areas most vulnerable to freezing include pipes in unheated spaces like attics, basements, garages, crawl spaces, and exterior walls. With a few proactive measures, you can help keep your pipes safe and flowing smoothly throughout the winter season.

We Recommend:

- - Inspect your building for cracks or holes in seals and repair them promptly.
  - Insulate exposed pipes in unheated areas.
  - Cover exterior faucets with foam protectors.
  - Let faucets drip during freezing nights to keep water flowing.

4. HVAC System Checks

The last thing you want is for your heating system to fail during a deep freeze. Your heating, ventilation, and air conditioning system will be working overtime as the temperature drops.

We Recommend:

- - Have a professional inspect your HVAC system.
  - If necessary, have your HVAC filters replaced.
  - If you have a fireplace, make sure it’s clean and safe to use.

5. Trim Overhanging Trees

Heavy snow or ice can cause weak or overhanging branches to break, which could cause damage to your roof, siding, or windows.

We Recommend:

- - Trim any branches that hang over your property or power lines.
  - Remove dead or weakened trees before winter to prevent them from becoming hazards during storms.

6. Seal Windows and Doors

Energy efficiency is critical during the winter season, and even small drafts can cause your heating system to work overtime, leading to higher energy bills. Unsealed windows and doors also allow cold air and moisture to seep in, which can lead to mold growth and wood rot.

We Recommend:

- - Use weatherstripping, a material that seals gaps around doors and windows to block drafts, to improve insulation and energy efficiency.
  - Caulking should be applied around exterior window frames to prevent air and water leaks.
  - Install draft stoppers at the bottom of exterior doors.

7. Inspect Your Foundation and Exterior Walls

Cracks in your property’s foundation or exterior walls can let cold air and moisture seep in, leading to more severe structural problems when water freezes and expands.

We Recommend:

- - Inspect your foundation for cracks and have them repaired before the freeze-thaw cycle begins.
  - Look for signs of water damage or gaps in your exterior walls and seal them.

8. Emergency Preparedness

Review and update your emergency preparedness plan and inform all occupants of what to do during severe weather events this winter.

We Recommend:

- - Compile a list of evacuation procedures and emergency contacts.
  - Collect any supplies that may be needed in the case of an extreme winter storm:
    - - Batteries
        
        Sleeping Bag
        
        Flashlight
        
        First-Aid Kit
        
        Non-perishable Food
        
        Outdoor Winter Clothes

9. Policy Review

Before winter sets in, we recommend reviewing your property insurance policy. Coverage needs can change from year to year, so it’s important to make sure your property stays adequately protected. Our team is here to review your policy so you know of potential gaps in your coverage this winter. Submit your policy for review today!

Get Ready Before the First Snowfall

Preparing your property for winter isn’t just about staying warm—it’s about protecting your investment. By taking the time now to inspect, repair, and winterize your property, you’ll keep your property safe and hopefully prevent costly repairs down the road. Winters are tough, but your property doesn’t have to suffer.

To get more tips on winter property maintenance and stay informed about seasonal property care, join our blog community using the form below!

Post Hurricane Helene Responsibilities as a Policyholder

As you brace yourself for the impending hurricane, it’s perfectly normal to feel a mix of anxiety and anticipation. While we can’t control Mother Nature (trust me, we’ve tried), we can control how we respond when the storm clouds roll in. Knowing your responsibilities as a policyholder can protect your property and make the recovery process much smoother.

1. Act Quickly to Mitigate Damage

Once the winds start howling, your first job is to mitigate further damage—a fancy way of saying, “Stop the damage from getting worse!” Here’s how to do that without losing your cool:

Secure the Area: If it’s safe, cover broken windows and doors with plywood or tarps to protect any entrance to your property. If you can, use sandbags to block floodwaters! Anything you can do to prevent further damage from occurring may help your claim.
Turn Off Utilities: Consider putting your property on “Do Not Disturb” mode. If you suspect flooding, shut off the electricity, gas, and water. Nobody wants a surprise electrical fire or a gas leak to add to the drama.
Document Everything: Channel your inner photographer! Snap photos or record videos of the damage as soon as you can after a hurricane. This evidence will be your best ally when filing an insurance claim.

2. Notify Your Insurance Carrier Immediately

Once you’ve taken steps to secure your property, it’s time to let your insurance carrier in on the action. Here’s how to make the call count:

Gather Your Information: Before dialing, grab your policy number, damage details, and any documentation you’ve collected. You want to be the most organized policyholder they’ve ever spoken to!
File a Claim Promptly: Depending on your insurance carrier and the state you live in, you’ll have a set deadline to follow to file a claim. It’s important to ensure you follow said deadlines to ensure you set your claim up for success.
Keep a Record of Communication: Document every interaction with your insurance carrier. Dates, times, names—be the Sherlock Holmes of your claims process!

3. Take Charge of the Recovery Process with Premier Claims

After notifying your insurance carrier, it’s time to take charge of the recovery process—and you don’t have to do it alone! Here’s how Premier Claims can step in and assist you:

Get Experienced Guidance: Our team is ready to help you understand your policy, advocate for coverage, and guide you through the entire claims process. Think of us as your personal insurance sidekick, keeping you from being left in the dark.
Work with Professionals: If damage has occurred, we can connect you with licensed professionals who can assess the situation and provide repair estimates. We’re all about assembling your superhero team for recovery so you can focus on what matters most—keeping your family safe.
Stay Informed and Empowered: We’ll keep you updated throughout the claims process and offer tips on how to communicate effectively with your insurance carrier. Our mission is to make sure you feel empowered and informed every step of the way.

4. Lean on Your Community for Support

Finally, don’t forget about the power of community. After the hurricane is the perfect time to channel your inner neighborly spirit.

Reach Out for Help: Whether it’s a quick chat with a neighbor or joining local support groups, leaning on each other can lighten the load. You might even discover your neighbors have hidden talents, like providing homemade cookies or offering a helping hand!
Share Resources: Knowledge is power! Share tips and resources about recovery, insurance claims, and local services. You’re all in this together, after all.

Weathering the Storm Together

Facing the aftermath of a hurricane can feel daunting, but understanding your responsibilities as a policyholder can empower you during this challenging time. Taking proactive steps to mitigate damage, notifying your insurance carrier promptly, and leaning on your community for support can turn a stressful situation into a more manageable one.

If you need help navigating the claims process, remember Premier Claims is here to guide you every step of the way. Connect with our team today, and together, we’ll turn this stormy season into a story of resilience and recovery.

The Impact of the 2024 Hail Season on Insurance Premiums

2024 Hailstorms by the Numbers: The Devastation in Context

Why Are Premiums Rising After the 2024 Hail Season?

1. Unprecedented Claims Payouts

2. Rising Repair Costs

3. Advanced Risk Modeling

How Premium Hikes Are Affecting Property Owners

What Can Homeowners Do to Navigate These Changes?

1. Invest in Impact-Resistant Materials

2. Conduct Regular Policy Reviews

3. Work with a Public Adjuster

4. Advocate for Legislative Action

A Glimpse into the Future: Will 2025 Be Any Better?

A Property Owner’s Guide to Preparing for Winter

Winter Prep for Property Owners

1. Inspect and Repair Your Roof

We Recommend:

2. Clear Your Gutters and Downspouts

We Recommend:

3. Protect Your Pipes from Freezing

We Recommend:

4. HVAC System Checks

We Recommend:

5. Trim Overhanging Trees

We Recommend:

6. Seal Windows and Doors

We Recommend:

7. Inspect Your Foundation and Exterior Walls

We Recommend:

8. Emergency Preparedness

We Recommend:

9. Policy Review

Get Ready Before the First Snowfall

What Do I Do After a Hurricane?

Post Hurricane Helene Responsibilities as a Policyholder

1. Act Quickly to Mitigate Damage

2. Notify Your Insurance Carrier Immediately

3. Take Charge of the Recovery Process with Premier Claims

4. Lean on Your Community for Support

Weathering the Storm Together