Most Common Homeowners Insurance Claims

These are the most common insurance claims that homeowners need to look out for.

While you probably have the right homeowners insurance in place, this doesn’t mean that you want to use it. Unfortunately, it’s impossible to eliminate every risk, and you will probably end up filing a homeowners insurance claim at least once in your lifetime. Here are the top three most common types of claims that homeowners end up filing.

  • Wind and Hail: 35%

The number one cause of homeowners insurance claims is wind and hail. This makes sense, as the damages caused by tornadoes and hurricanes both fall under this category. While this is the most common type of claim, at $8,313 per claim on average, it is actually only the fourth most expensive type of claim.

  • Water Damage: 29%

When pipes freeze and burst or when appliances malfunction, your home can sustain severe water damage. Unfortunately, this threat happens pretty regularly making water and freezing damage the second most common insurance claim. At $8,861 per average claim, these types of claims are the third most expensive.

  • Fire and Lightning Damage: 23%

Fire and lightning claims are by far the most expensive type of homeowners insurance claims. With the average cost per claim at about $43,983, fire and lightning damage are often the most detrimental to homeowners. On the plus side, homeowners insurance policies were originally designed to protect against these specific hazards, so it is easy to secure a good amount of this coverage.

These are the most common types of homeowners insurance claims. Are you looking to secure the right coverage for your home? If so, contact the experts at Pierce Insurance Group. Our dedicated team is ready to get you covered today.