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State Farm to Pay Out More than $2 Billion in Claims from April and May Storms

Posted on 17 Jun 2011

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While thousands of State Farm claim representatives and agents continue to help those impacted by spring storms, the company today announced it has paid nearly $1.75 billion to its customers from the destructive storms of April and May. The total claim payments have nearly doubled in less than three weeks.

State Farm's policyholders have reported more than 400,000 home, business and auto claims caused by the April and May events. More than 4,000 claims professionals are still deployed around the country to more than 130 local claim offices and two large centralized claim operation centers.

Catastrophe claim payments from State Farm, year-to-date, now exceed $3.3 billion. This figure accounts all events occurring in 2011 and any residual payments made on catastrophes from prior years.

“Our policyholders have experienced an extraordinarily devastating spring and we are very proud of the remarkable job all our associates are doing to help our customers recover,” said Brian Boyden, State Farm Executive Vice President.

If categorized as one event, the devastating hailstorms, windstorms and tornadoes in the months of April and May would be the fifth most costly homeowners' catastrophe in State Farm’s nine decade history.