Lighting storms and strikes have recently been the center of national attention, as lightning bolts have started wildfires that have torched tons of acres in the west as well as burned homes and other structures in the blazes’ pathways. However, fires aren’t the only damages that occur from lighting strikes – damages caused from power surges can also occur.
Property insurance claims and payouts related to lightning strikes rose significantly (about 14.8 percent) from 2009 to 2010, according to the Insurance Information Institute (I.I.I.). Over 213,000 residential insurance claims were made in 2010 as a result of lightning damage, totaling over $1 billion in insurance payouts. Although this is the latest information reported, we can’t help but wonder what the statistics are going to show after this eventful year of property damages due to lighting strikes.
The average cost per claim also increased as it amounted to $4,846 in 2010, whereas the average lightning claim cost in 2004 was $2,646. According to Loretta Worters, vice president of the I.I.I., the “huge increase in the number of value of consumer electronics in homes” has probably pushed the cost per claim up.
Are Your Damages Covered?
Lightning damage and fire damage is typically covered by a standard homeowners insurance policy; however, sometimes insurance companies try to deny legitimate claims or offer you less than what they should be paying you.
For help making sure you are getting a fair insurance claim payout, call a skilled Texas residential insurance lawyer at the Voss Law Firm at 888-614-7730 today and receive a complementary case consultation.