HazardHub identifies prime winter perils and areas of vulnerability
SAN MATEO, Calif.–(BUSINESS WIRE)–Guidewire (NYSE:) HazardHub has launched winter climate danger knowledge to assist insurers and property house owners throughout the USA higher perceive and put together for cold-weather threats. Final yr, winter storms in the USA resulted in roughly $3.4 billion in insured losses. The yr prior, in 2022, almost $6 billion in losses had been recorded from winter storms, which was the second-highest recorded losses previously decade.
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HazardHub map of common annual minimal temperatures for the contiguous United States, printed December 2024. (Graphic: Guidewire HazardHub)
HazardHub danger knowledge and maps element excessive chilly and winter climate dangers on the nationwide, state, and native ranges, proper right down to the particular property tackle stage. HazardHub provides greater than 1,000 knowledge factors and danger scores for local weather dangers and excessive climate occasions.
Freezing Temperatures Throughout the U.S.
In response to Guidewire HazardHub knowledge, 31.4 million housing items within the U.S. will expertise greater than 30 days of winter temperatures under 32 ºF this yr. Of these, greater than 10.3 million housing items will expertise greater than 50 days of below-freezing temperatures this winter.
The first elements contributing to the coldest areas are latitude, elevation, and geography. The states on the northern border, within the Rockies, or with increased elevations, in addition to Alaska, file the coldest temperatures.
Prime States with Freezing Temperatures
In response to Guidewire HazardHub knowledge, the highest 5 states with the bottom common annual winter temperatures are:
1. Alaska: 2.6 °F (-16.3 °C) Common Winter Temperature
2. North Dakota: 12.2 °F (-11.0 °C)
3. Minnesota: 12.4 °F (-10.9 °C)
4. Maine: 16.8 °F (-8.4 °C)
5. Wyoming: 21.2 °F (-6.0 °C)
6. Montana: 21.2 °F (-6.0 °C)
Prime Winter Climate Perils
In response to an evaluation of Guidewire HazardHub knowledge, probably the most perilous Winter Climate Dangers, based mostly on the potential for claims loss, extent of harm, and frequency, are:
Frozen Pipes
Freezing temperatures trigger water inside pipes to broaden, resulting in cracks and bursts that lead to intensive water injury to flooring, drywall, and residential contents. This peril results in one of the crucial frequent winter insurance coverage claims. Mitigation steps embody insulating pipes, sustaining indoor warmth, permitting taps to drip throughout chilly snaps, and draining water strains in vacant properties.
Prime 5 States for Frozen Pipe Danger
1. Nebraska
2. Vermont
3. North Dakota
4. Minnesota
5. Wisconsin
These states have the very best share of houses and constructions rated as an ˜F’ grade in accordance with the HazardHub Frozen Pipe Danger rating. In response to HazardHub knowledge, 21% of houses within the US face the chance of frozen pipes in the course of the winter season. The common value of a frozen pipe insurance coverage declare is roughly $18,000, overlaying damages to flooring, drywall, residence contents, and plumbing programs. In response to the Insurance coverage Data Institute, water injury (throughout all seasons) and freezing incidents account for almost 24% of all householders insurance coverage claims.
Snow Load (Roof Collapse)
Amassed snow and ice place vital stress on roofs, risking structural injury or collapse, significantly for older buildings or these with flat roofs. States like Alaska, Maine, and Vermont expertise the very best danger resulting from heavy snowfall. Often clearing snow from roofs, sustaining gutters, and trimming overhanging branches can stop this expensive injury.
Prime 5 States for Snow Load Danger (Hazard of Roof Collapse)
1. Alaska
2. Maine
3. Vermont
4. New Hampshire
5. Minnesota
These states have the very best share of houses and constructions rated as in danger for snow load in accordance with the HazardHub Snow Load Danger Rating. Greater than 36% of houses in Maine, 35% of houses in Vermont, and 28% of houses in New Hampshire are rated as in danger for snow load on their roofs, as are 22% of houses in Minnesota, in accordance with HazardHub.
Ice Dams
Warmth escaping by means of a poorly insulated roof can soften snow, which refreezes on the roof’s edge, forming ice dams that block correct drainage. This results in leaks and roof injury, lifting shingles, and inflicting water injury inside the house. In response to HazardHub knowledge, roughly 28.4% of U.S. census blocks expertise greater than 30 days of freezing temperatures annually, growing the chance of ice dam formation. This impacts 31.4 million housing items. Ice dam removing can value between $400 and $4,000, relying on the scale of the ice dam and roof kind. To mitigate, insulate attics, set up warmth cables alongside roof edges, and clear snow buildup usually.
Different main winter climate dangers to houses and companies embody energy outages from fallen timber and broken strains, excessive winds that trigger structural injury, flooding from fast snowmelt overwhelming drainage programs, and home fires resulting from unsafe heating practices. Over the previous 20 years, weather-related occasions have precipitated 80% of main energy outages, with winter storms answerable for 23% of annual energy outages. Wind gusts exceeding 50 mph (80 km/h) can injury roofs and topple timber, resulting in secondary water injury. Speedy snowmelt can lead to expensive flooding, usually not lined by normal insurance coverage. Moreover, elevated use of area heaters, fireplaces, and wooden stoves throughout winter raises the danger of home fires. In response to the U.S. Fireplace Administration (USFA), roughly 100,000 winter residential constructing fires happen in December, January, and February, leading to roughly $1.9 billion in property injury or loss annually.
Harnessing Information for Higher Safety
The chilly, onerous truth is that excessive winter climate precipitated $3.4 billion in insured losses in 2023. Insurers and householders should higher leverage the information out there to them to evaluate their vulnerabilities and take motion to mitigate these dangers, mentioned Tammy Nichols Schwartz, CPCU and Senior Director of Information and Analytics at Guidewire. Schwartz has greater than 25 years of expertise within the property and casualty insurance coverage trade and is acknowledged as a local weather and pure disaster danger professional.
HazardHub’s detailed winter danger knowledge and maps can be found by means of Guidewire PolicyCenter and Guidewire InsuranceNow options, in addition to by way of the HazardHub API. Insurers can make the most of this knowledge to enhance danger evaluation and underwriting accuracy, whereas property house owners can higher put together for the winter season.
Shoppers curious about assessing their residence’s winter danger can go to freehomerisk.com.
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Melissa Cobb
Director, Public Relations
Guidewire Software program, Inc.
+1.650.464.1177
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Supply: Guidewire Software program
