These are the most common risks that your home faces:
As a responsible homeowner, you likely have the proper homeowners insurance protections in place. That being said, you probably don’t want to access this coverage under any circumstances. Unfortunately, it’s impossible to prevent every risk that your home faces and you may have to file a homeowners insurance claim at some point in your life. For reference, here are some of the most common types of claims that homeowners have to file.
1) Wind and Hail
35% of homeowners insurance claims are due to wind and hail damage. As hurricane and tornado damages fall under this category, it’s not surprising that this is the top cause of claims.
2) Water Damage
29% of claims are due to the water damage your home might sustain after a pipe bursts or an appliance leaks.
3) Fire and Lightning Damage
23% of claims are due to the damages caused by fire and lightning strikes. While these claims are only the third-most frequent, they do tend to be the most expensive. The average cost of this type of claim hovers around $44,000.
4) Non-Theft Property Damage
7% of home insurance claims can be attributed to property damage. Miscellaneous property damage can come from many sources. For instance, a tree could fall onto your home, a car could smash through your garage, and so on.
5) Liability Issues
Surprisingly, 4% of all homeowners insurance claims have to do with personal liability issues. These types of issues arise when someone injures themselves while on your property, or when a member of your household accidentally causes injuries or damages to a third-party.
Finally, 3% of claims are due to theft or home break-in. These types of claims are filed both for stolen items and for the damages caused by the burglars.
Speak to a trusted insurance agent to make sure you have the right coverage to protect against these common types of homeowners insurance claims. We at Westwood Insurance Agency are ready to assist you with all your coverage needs. Contact us to get started today.