To understand potential impact of Harvey on insurance losses to date, a comparison to past events can be instructive. The following graph illustrates the impact on just total loss costs from several major weather events between 2003 and 2012. Superstorm Sandy was by far the most impactful, with both the volume and cost of the losses exceeding many of the prior large events.
The following chart illustrates the overall impact at a national level when large scale events such as Hurricane Irene or Superstorm Sandy result in many total loss vehicles. For example, without the comprehensive total losses from Sandy, the average total loss value for November 2012 was only $8,279. With the Sandy losses included the national average jumped to an average of over $11K.
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