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Top Homeowners Insurance Claims

February 5th, 2020 Posted in Personal Tips, Trips & Traps


As a homeowner, you do everything you can to protect yourself from loss. Although some claims may be out of your control, being aware of common causes of insurance claims can help you prepare when faced with loss. The top homeowners insurance claims include:

  • Wind and hail damage—Damages from wind and hail are the most common homeowners insurance claims. Severe winds and hail can strip the siding off of your home, damage your roof and even break windows.
     
  • Fire and lightning damage—A recent study by the Insurance Information Institute found that fire and lightning claims are the most expensive, costing an average of $68,322 per claim. Faulty wiring, heating equipment and fireplaces are all common causes of household fires.
     
  • Water damage—Frozen pipes, sewage backups and various plumbing issues can lead to severe water damage. Remember, damages caused by flooding are typically not covered under a standard homeowners insurance policy.
     
  • Personal liability—Personal liability claims are made when a person or their property is damaged while visiting your home. In most cases, you are held responsible for paying any medical bills or repair costs for the damaged property.
     
  • Theft—Although theft is less common than other claims on this list, it can still contribute to severe loss. To protect your home from theft, consider installing a home security system.

Contact your broker today for more information on what perils are covered under your homeowners insurance policy.

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