NY Makes the List: Top 10 States for Homeowners Insurance Lightning Losses

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Your home is your sanctuary; a place to relax and let your guard down. And that’s when Preferred Mutual steps up, providing you with the protection you deserve, when you need it most.

In 2019, the U.S. recorded over 75,000 lighting claims, according to the Insurance Information Institute, resulting in over $920.1 million of property damage across the nation. With an average of almost $12,000 a claim, New York has made the list for top 10 states for homeowners insurance lightning losses.

It happens in a flash. Lightning can impact whatever is in its path, from appliances to electronics or an entire home’s electrical panel, making lightning strikes the cause of over 20% of home fires, according to the National Fire Protection Association (NFPA).

On the rise, Smart devices have made significant impact on how susceptible homes are to lightning damage, providing easier gateways in to much of a home’s electronic network, damaging scores of devices and appliances at once.

The Insurance Information Institute shares which states have seen the most lightning damage in 2019:

10. Illinois – With 2,438 claims, valued at $24.6 million, the average cost per claim was $10,078.

9. Alabama – With 2,514 claims, valued at $30.3 million, the average cost per claim was $12,051.

8. Pennsylvania – With 2,838 claims, valued at $27.3 million, the average cost per claim was $9,612.

7. North Carolina – With 2,849 claims, valued at $31.8 million, the average cost per claim was $11,165.

6. New York – With 2,866 claims, valued at $39.5 million, the average cost per claim was $13,792.

5. Louisiana – With 3,540 claims, valued at $31.9 million, the average cost per claim was $9,025.

4. Georgia – With 4,436 claims, valued at $49.3 million, the average cost per claim was $11,115.

3. California – With 5,100 claims, valued at $71.9 million, the average cost per claim was $14,105.

2. Texas – With 5,780 claims, valued at $88.3 million, the average cost per claim was $15,278.

1. Florida – With 6,821 claims, valued at $93.2 million, the average cost per claim was $13,669.

Most homeowner’s insurance policies provide coverage for the structure of your home against named perils, or certain catastrophes such as lightning and fires. However, personal belongings and electronics may not be covered in full. According to the Insurance Information Institute, “most companies provide coverage for 50% to 70% of the amount of insurance you have on the structure of your home.”

Would you walk through the rain with half of an umbrella? Get the coverage you need by extending your coverage and adding a Valuable Possessions Endorsement and get peace of mind knowing that should an event like a lightning strike occur, Preferred Mutual will be there for you when you need us.

Another recommendation for those living in the #6 state with the most lightning claims – Equipment Breakdown and Service Line Coverages. It’s simple, affordable and the most efficient way to fill the gaps in your homeowners insurance! It provides coverage for the cost of repairing or replacing essential equipment in your home if a power surge occurs.

Your home is your sanctuary; a place to relax and let your guard down. And that’s when Preferred Mutual steps up, providing you with the protection you deserve, when you need it most. Customizable, affordable, dependable– We call that Living Assured.

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