Water Damage Insurance Claim Statistics

98 percentage of total claims that are filed due to property damage including theft 2.

Water damage insurance claim statistics.

Hover over a state for a snapshot of its insurance market. About 93 percent of all water damage can be prevented. The costliest are related to fire and lightning. About one in 40 insured homes has a property damage claim related to wind or hail each year.

Water damage and mold cost the insurance industry 2 5 billion dollars per year and the average cost of a home water damage insurance claim is 6 965. Homeowners insurance claims frequency homeowners claims related to wind or hail are the most frequent. Water or flood damage can affect any property regardless of age. Water damage water leaks and damage.

5 percentage of insured homes with at least one claim each year 2. The american insurance association reported that during the period 2007 to 2009 water leaks in homes resulted to property loss amounting to 9 1 billion. Almost 40 percent of all homeowners have said that they have experienced loss from water damage. Water damage is one of the most common causes of home insurance claims according to the insurance services office iso water damage claims are the second largest frequent insurance claim following wind and hail damage.

Newer homes are just as likely to experience a water damage issue as older. Water damage is the second most frequently filed insurance claim in the united states. Altogether these five causes make up 76 of all homeowners insurance claims. Claims due to water damage impacts 1 in 50 homeowners each year.

About one in 20 insured homes has a claim each year. Water damage claims costing over 500 000 have doubled since 2015. Click a state for a detailed overview of that state s insurance market in pdf format. Stats about homeowners insurance claims.

Hover or click to view national insurance data ak al ar as az ca co ct dc de. Water leaks alone leave incredible amounts of damage and immense waste in their wake. According to the american insurance association water damage claims have been growing faster than other components of homeowners insurance rooted in a number of different situations water damage can come from natural disasters plumbing failure and a range of other sources. 12 474 the average homeowners insurance claim amount 2.

The most common causes of home insurance claims from an analysis of travelers insurance policyholders are wind nonweather water damage hail weather related water damage and theft. The following are some of the most interesting water damage statistics.