Most Common Home Insurance Claims

Written on behalf of Kelly lee Insurance - Home Insurance in Lake Charles LA

Discover the most frequent incidents covered by home insurance for homeowners, Most of us know having a comprehensive homeowners insurance policy is essential; It safeguards you against a range of potential challenges, from fires to weather-related mishaps. Let's delve into the top five most prevalent claims covered by homeowners insurance.

Sections in This Article:

1. Wind and Hail Damage
2. Fire and Lightning Damage
3. Water Damage
4. Non-Theft Property Damage
5. Break-ins and Theft
6. Other Notable Insurance Claims

Wind and Hail Damage: 
Homeowners often face significant risks during severe weather events. Notably, between 2014 and 2018, the most frequent claims were due to wind & hail damage, as reported by the III (Insurance Information Institute). This risk is especially conspicuous in hurricane-prone areas. While tornadoes are a concern in certain regions, thunderstorms in various parts of the country also lead to ubiquitous wind-related claims. On average, these claims amounted to $11,200.

Fire and Lightning Damage: 
Although less common in terms of frequency, damage caused by fire and lightning constitutes the most financially impactful claims, as indicated by the III. The average claim for such incidents is a substantial $79,785. It is crucial to assess potential risks within your home and take preventive measures to mitigate fire hazards.

Water Damage: 
Water-related issues can stem from sources like rain, snowmelt, burst pipes, or plumbing leaks. An analysis of 8-years of insurance claim data by Travelers Insurance revealed that water-related incidents accounted for 31 percent of their claims. If you reside in a flood-prone area, acquiring flood insurance is imperative to bolster your coverage against such risks.

Non-Theft Property Damage: 
The Institute highlights property damage—such as a tree falling on your roof or accidental contact with a utility truck—as one of the leading reasons for homeowners insurance claims. Though these claims can vary, they averaged a cost of $6,598.


Break-ins and Theft:
Notably, theft of personal belongings and break-ins comprise six percent of Travelers Insurance claims. Interestingly, the cost of these claims does not rank within the Top-5. Enhancing your home security need not be expensive; simple measures like motion-activated outdoor lighting or adding deadbolts can significantly deter break-ins and theft.

Other Notable Insurance Claims: Curious about incidents like dog bites and trampoline accidents? The III reveals that liability insurance claims, accounting for only 2-percent of total claims, encompass situations where you are responsible for injuries or property damage suffered by guests in your home. Although infrequent, these claims can be financially burdensome, averaging around $26,872.

Need a quote on home insurance, flood insurance or renters insurance in Louisiana?  Call or visit www.kellyleeinsurance.com 

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