Water Damage Insurance Claim Statistics

Claims due to water damage impacts 1 in 50 homeowners each year.

Water damage insurance claim statistics.

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. Stats about homeowners insurance claims. Hover over a state for a snapshot of its insurance market. Altogether these five causes make up 76 of all homeowners insurance claims.

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. 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.

About 93 percent of all water damage can be prevented. Water damage water leaks and damage. 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.

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. About one in 40 insured homes has a property damage claim related to wind or hail each year. About one in 20 insured homes has a claim each year. Water or flood damage can affect any property regardless of age.

Almost 40 percent of all homeowners have said that they have experienced loss from water damage. Water damage claims costing over 500 000 have doubled since 2015. Water damage is the second most frequently filed insurance claim in the united states. Click a state for a detailed overview of that state s insurance market in pdf format.

Water leaks from homes in the us can exceed 1 trillion gallons of water in a year. 12 474 the average homeowners insurance claim amount 2. The costliest are related to fire and lightning. Non weather water damage claims are the second most common type of homeowner insurance claim.

Homeowners insurance claims frequency homeowners claims related to wind or hail are the most frequent. Newer homes are just as likely to experience a water damage issue as older.