Most Common Homeowners Insurance Claims

Most Common Homeowners Insurance Claims

If you own your home, you know homeowners insurance is a must. From fires to weather-related damages, take a look at the five most common homeowners insurance claims.

1. Wind and Hail Damage

Wind and hail damage caused the most insurance claims between the years 2014 and 2018, according to the Insurance Information Institute. In addition to damage caused by hurricanes and tornadoes, thunderstorms created widespread wind-related claims. The average claim came in at $11,200. Learn how to find a good repair contractor and work with your homeowners’ insurance agent after storm damage.

2. Fire and Lightning Damage

Damage from fire and lightning ranks second for frequency but account for the most expensive claims, according to the Insurance Information Institute. The average claim for fire and lightning damage is a whopping $79,785. These 10 common home insurance mistakes can cost you thousands.

3. Water Damage

Water damage can result from rain or snowmelt, along with interior issues such as a burst pipe or leaking plumbing. Travelers Insurance analyzed eight years of insurance claim coverage data and found water accounted for 31 percent of its claims. Here are five flood insurance tips you should know.

4. Non-Theft Property Damage

The Insurance Information Institute puts property damage, such as a tree falling on the roof or a utility truck that backs into your garage, as one of its top reasons for homeowner’s insurance claims. While this type of claim can take a number of forms, the average claim cost $6,598. Save on homeowners insurance with these 10 smart tips.

5. Break-ins and Theft

Travelers notes that break-ins and theft of personal property account for six percent of its insurance claims. Surprisingly, the average cost of these claims doesn’t even break the top five. Here are 22 inexpensive ways to theft-proof your home.

Other Insurance Claims

Wonder where dog bites and trampoline accidents fall? Well, the Insurance Information Institute says liability insurance claims made up just two percent of total claims. Liability refers to your duty toward other people, such as when a guest suffers injury or property damage while visiting your home. Although infrequent, these claims can be expensive — averaging a hefty $26,872. Did you know homeowners insurance covers these 10 unbelievable events?

Are you a genius homeowner? Find out in this video:

Plus: 13 Things to Do If Your Home Gets Broken Into

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Call the Police

You’ll want to report the incident to the police to establish a record and also give you information for filing an insurance claim. Make sure you can see the 13 sneaky signs someone is watching your house.

Take Pictures

Photos will provide additional evidence of what your home looked like following the burglary or robbery. Police photos might be incomplete or the insurance company might need additional photos. Find out what burglars don't want you to know.

Don’t Touch Anything

There is the potential you could destroy any evidence in your home before police arrive. Make sure you're not making your home a target for burglars by avoiding doing these things.

Locate Pets

If a door remained opened after a burglary it’s possible you might need to locate your pets if they aren’t in the home. Keep your pet safe at home by keeping these 11 hazardous household items out of your home.

Call Insurance Company

Call your insurance company quickly so they can help guide you through documenting damage, making a list of missing items and making claims. You'll be amazed at the crazy things homeowners' insurance will cover.

Document Everything

Keep a complete list of what was taken and its approximate value. You might want to even draw pictures or let police know of specific identification marks. Keep an extra copy of the list for insurance purposes. These are 10 common homeowners' insurance mistakes that can cost you.

Don’t Throw Out Broken Property

You might be tempted to throw damaged property out of frustration but those items need to be documented for any possible claims. Discover the 50 secret hiding places thieves will never look.

Locate Proof of Ownership Documents

It’s a good idea to keep documents related to big purchases because it can make providing proof of ownership to insurance companies easier. Here are 13 inexpensive ways to theft-proof your home.

Secure Your Home

It might be time to take a look at security weak points in your home and take steps to strengthen security. It could mean adding security cameras, additional lighting or adding tougher locks to a home.

Call Your Bank

It’s good to call your bank even if you don’t know if any financial records were taken. You may not see the effect of stolen bank documents right away but you can avoid any potential losses by changing accounts, pins and other financial information. Protect yourself against phone scams that can take your money, too!

Let the Neighbors Know

Burglars like to strike in the same area multiple times because they’ve usually cased a neighborhood for some time before striking. So, be a good neighbor and let your neighbors know about a burglary. Here are 15 other ways you can be a good neighbor.

Follow Up With Police

You’ll want to find the burglar immediately but crimes don’t usually get solved over night. Be sure to follow up with police periodically to keep abreast with the investigation. Here are more tips on how to deal with a burglary.

Talk to Someone

A burglary will summon feelings of being unsafe and that can have a lasting effect. If you have residual effects from the burglary be sure to speak with a professional who can help with anxiety issues.

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