The beginning of the year is a great time to review your homeowners coverage so you aren’t left underinsured if you encounter one of these common claims.

By Brittney Meredith-Miller | January 11, 2023

7. Medical payments

Percentage of claims: 0.3%

Average cost per claim: $7,147

(Credit: Vitalii Vodolazskyi – stock.adobe.com)

6. Theft

Percentage of claims: 0.6%

Average cost per claim: $4,415

(Credit: Alexander Kirch/Shutterstock.com)

5. Bodily injury and property damage

Percentage of claims: 2%

Average cost per claim: $30,324

(Credit: itsallgood – stock.adobe.com)

4. Miscellaneous property damage and financial incidents

Percentage of claims: 8%

Average cost per claim: $820 to $6,773

(Credit: Aleksandra Duda/Shutterstock.com)

3. Water damage and freezing

Percentage of claims: 19.9%

Average cost per claim: $11,650

(Credit: webeno/Adobe Stock)

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2. Fire and lightning

Percentage of claims: 23.8%

Average cost per claim: $77,340

(Credit: Sergey Nivens/Shutterstock.com)

1. Wind and hail

Percentage of claims: 45.5%

Average cost per claim: $11,695

JANET L. PRINCE

Insurance Agent | HomeServices Insurance, Inc.

P. 845.237.4036| F. 833.679.3465 | C. 914.474.3963

A. 1100 Route 55, Suite 201, Lagrangeville, NY 12540

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