The cost associated with a vicious hailstorm that slammed into Alberta’s Capital Region earlier this month became much clearer on Tuesday.
The Insurance Bureau of Canada (IBC) said the hail that hammered the Edmonton area on Aug. 2 has resulted in an estimated $89 million in insured damages.
According to the industry association, $46.9 million of insured damages were related to automobiles, $39.5 million were related to personal property and $3.4 million were from commercial properties.
The powerful storm saw Edmonton and surrounding areas pounded by hail and heavy rain on Aug. 2. Environment Canada even issued a tornado watch for the area that night, which remained in effect for several hours.
READ MORE: Edmonton and surrounding areas hammered by hail during powerful storm
IBC said the hail that came down damaged house siding and vehicles in west Edmonton, Spruce Grove and Stony Plain, as well as crops northwest of Edmonton.
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“Severe weather is causing headaches for homeowners and is costing insurers, governments and Albertans significantly,” IBC executive Celyeste Power said on the association’s website. “Last year, insured damage from severe weather across Canada reached $2 billion, the fourth-highest amount of annual losses on record.
“Unlike the 2013 Calgary floods or the 2016 Fort McMurray wildfire, no single event caused the high amount paid out for 2018’s losses. Instead, Canadians and their insurers experienced significant losses from a host of smaller severe weather events from coast to coast to coast.”
On its website, IBC said “the financial cost of a changing climate has increased” and that it is pressing governments for more investment into making communities more resilient to “the future impacts of extreme weather.”
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