Whether you’ve ever had to file a home insurance claim or not, you’re more than likely familiar with reasons why you might need to. And while we all hope to never have a claim – the reality is unexpected stuff happens, and being prepared with the right insurance coverage is important. To better understand your own risks, and perhaps help protect against them, here’s a list of the most common home insurance claims.
The Most Common Home Insurance Claims
1. Water Damage
Water damage claims are one of the most common types of home insurance claims. Burst pipes, plumbing leaks, appliance malfunctions, and roof leaks are common culprits that could lead homeowners to filing a claim.
- According to the Insurance Information Institute (III), water damage claims are the second most common homeowners insurance claim, accounting for 19% of all claims.
- The average cost per water damage claim is approximately $10,000, according to the American Insurance Association.
Water damage can cause extensive property damage, like structural issues, mold growth, and damage to personal belongings. Follow these 10 water damage prevention tips to avoid leaks and flooding.
2. Wind and Hail Damage
Wind and hailstorms can wreak havoc on homes, causing damage to roofs, siding, windows, and outdoor structures. High winds can also lead to fallen trees or branches, resulting in additional property damage. These types of claims are especially common in regions prone to severe weather.
- Wind and hail damage claims are the third most common homeowners insurance claim, comprising 15% of all claims, as reported by the III.
- The average cost per wind and hail damage claim is around $11,200, according to data from the Insurance Research Council.
3. Fire Damage
Fires can devastate homes, causing serious damage to structures and belongings. Common causes of house fires include cooking accidents, electrical malfunctions, heating equipment malfunctions, and lightning strikes. If you live in the Western states, you know that wildfires also pose a significant threat – but this holds true for everywhere, not just high-risk areas. Fire damage claims often involve not only property damage but also additional living expenses if you’re displaced from your home during repairs.
- According to the National Fire Protection Association (NFPA), U.S. fire departments respond to an average of 354,400 home structure fires per year, resulting in approximately $7.2 billion in direct property damage annually.
- The III reports that fire and lightning damage claims are the fourth most common homeowners insurance claim, representing 11% of all claims.
4. Theft and Burglary
You never know when a burglar might strike, causing stress and loss. They tend to go for things like gadgets, jewelry, and cash, leaving you with a mess to clean up. Luckily, having a comprehensive home insurance policy can provide coverage for stolen items and damage caused by break-ins.
- According to the Federal Bureau of Investigation (FBI), there were an estimated 1.1 million burglaries in the United States in 2019, resulting in approximately $3 billion in property losses.
- Theft and burglary claims are among the top ten most common homeowners insurance claims, accounting for approximately 5% of all claims, according to the III.
5. Liability Claims
Liability claims are those times when someone gets hurt while hanging out at your place and you end up being legally responsible. We’re talking about slip-ups, maybe a playful nip from your pooch, or any other accidents that happen on your property. Liability coverage is an important component of home insurance and can help protect you from financial liability in such situations.
- According to the III, liability claims, including bodily injury and property damage, account for approximately 2.9% of all homeowners insurance claims.
- The average cost per liability claim is approximately $27,000, according to the III.
6. Vandalism and Malicious Mischief
Any acts of vandalism, such as graffiti, broken windows, or property destruction, occur unexpectedly and can result in some pretty costly repairs. Vandalism claims are covered by most standard home insurance policies and can help you restore your property to its pre-damaged condition.
- Vandalism and malicious mischief claims represent approximately 1.4% of all homeowners insurance claims, according to the III.
- The average cost per vandalism claim is around $4,000, according to data from the III.
7. Frozen Pipes
In colder climates, frozen pipes are a common cause of property damage during the winter months. When water freezes in pipes, it can cause them to burst, leading to water damage and potential flooding. Proper insulation and maintenance of pipes can help prevent this issue.
- According to the III, frozen pipe claims are among the top ten most common homeowners insurance claims, comprising approximately 2.3% of all claims.
- The average cost per frozen pipe claim is around $10,000, according to the III.
Understanding common home insurance claims can help you assess your own risks and ensure that you have adequate coverage. Make sure to regularly review your insurance policy, update coverage limits as needed, and discuss any concerns or questions with your Agent. By being proactive and prepared, you can have peace of mind knowing that you’re financially protected against life’s unexpected events.
At Swyfft, our Claims Portal puts you in control—literally. Explore our claims page to discover firsthand how our claims process, direct repair network, and more can benefit you should you ever need to file a claim.