Ohio Memorial Day tornado costs could hit $1 billion

Posted: Jun 27, 2019 / 11:03 AM EDT

Updated: Jun 27, 2019 / 12:28 PM EDT

DAYTON, Ohio (WDTN) – Total economic loss from the Memorial Day tornado outbreak could reach $900 million to $1.1 billion statewide according to an insurance industry expert.

“Currently, insured losses for all the tornados in Ohio are at $550 million,” said Bryan Wood, a meteorologist for Assurant Insurance. “That includes residential, auto and commercial. As more claims settle, I’d expect that number to rise to $700-$800 million over the next two months.”

Wood said once insured and uninsured losses are calculated across along with costs incurred from local governments and the state, the total could close in on $1 billion.

Local county losses from the Memorial Day storms counted 1,177 structures destroyed and 5,699 damaged.