What Causes The Most Homeowner Claims? Surprise!

4/25/2016 (Permalink)

Fire and water may cause more damage but more insurance claims are caused by wind and hail damage

You may be surprised to learn that the leading cause of homeowner insurance claims is not fire damage or water damage. It’s wind and hail damage.

The Insurance Information Institute says that national statistics (2010 to 2014) from property and casualty insurance companies show that three out of 100 homeowners filed claims in the wind/hail category.  The number of claims caused by wind and hail was nearly double the second most frequent reason for homeowner claims. In that second position? Water damage and freezing.

Fires Cause The Most Damage
Water damage and storm damage restoration claims were made by nearly 19 out of 1,000 homeowners. Though fire claims are much rarer—fewer than four claims per 1,000 homes—fires cause the most property damage. The average fire claim in the U.S. was for $39,791. By contrast, the average wind or hail claim totaled $8,041.

One Company Paid $2.4 Billion in 2014 Homeowner Claims
The losses covered by just one insurance company are large. Damage caused by wind and hail cost State Farm and its policyholders more than $2.4 billion in 2014, according to the insurer. Texas was the state with the most wind/hail losses, followed by Illinois, Colorado, Missouri, Nebraska, South Carolina, Pennsylvania, Iowa, South Dakota and Kansas.


For Cleanup Or Restoration Needs Call SERVPRO Of Bloomfield/Enfield At (860) 216-2785

If you’re concerned about making sure your house is well prepared for a wind, hail, fire, water, or other natural disaster, look through the many posts here at SERVPRO of Bloomfield/Enfield. We cover many specifics. We try to give you information that will protect your family, home, and business from natural disasters.
 
Visit Your Insurance Company's Website

And go to your homeowner insurance company website. Many insurance companies publish tips on their websites on how you can avoid claims. The Travelers website talks about installing water sensors to keep small leaks from becoming big ones.  At Nationwide’s website resource center you can learn how to make sure your home is covered for all it’s full value. The Ace website’s Family Safety Guidelines section has an essay on keeping your family and home safe from a tornado.

Among the SERVPRO of Bloomfield/Enfield posts that might most appeal to you are:

Flood Preparation & Procedures  
10 Key Fire & Fire Damage Facts
Commercial Businesses: The Best Disasters Are The Ones You Avoid

Help Is Here
The team at SERVPRO of Bloomfield/Enfield has specialized training and experience in fire restoration services, natural disaster prevention, and natural disaster cleanup. Call SERVPRO of  Bloomfield/Enfield (860.216.2785) anytime, 24/7.

We've served clients in Avon, Agawam, Bloomfield, Coventry, East Hartford, East Longmeadow, Ellington, Enfield, Farmington, Hartford, Manchester, Newington, Simsbury, South Windsor, Springfield, West Hartford, and beyond.

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