What is the Most Common Cause of Homeowner’s Insurance Claims?

Posted by Staff Reporter (media@realtytoday.com) on Apr 11, 2016 06:20 AM EDT
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NEW YORK, NY - APRIL 29: A destroyed home sits along the beach in the Bell Harbor neighborhood which was heavily damaged in Hurricane Sandy on April 29, 2013 in New York City. Six months to the day after the devastating storm ravaged parts of New Jersey, New York and Connecticut, many communities are still struggling. The super-storm killed dozens and destroyed thousands of homes and businesses (Photo : Spencer Platt/Getty Images)

Homeowners insurance helps protect you in case of unforeseen circumstances and incidents such as fire, hail and theft. Unfortunately, people do not often realize that the number one reason for insurance claims at home is something that they never thought of. What is the most common cause of homeowner's insurance claims?

As previously reported on Realty Today, a home insurance is designed to protect homeowners from liabilities that may take place in case of an accident. It would, therefore, be wise to get the right insurance for your home.

When people think of home insurance, many think of fire or theft as the most common causes of insurance claims. However, data released by insurance company Travelers reveals that the number one cause of homeowner's insurance claims is wind, reports Realtor.com.

Second vice-president of risk control at Travelers, Scott Humphrey, shared that very few people often think of the wind as a possible source of damage to their houses.

"People don't think about wind that much," he said.

As a matter of fact, 25 percent of insurance claims came from damages caused by exterior wind. Non-weather related water damage such as plumbing issues accounted for 19 percent. Hail took 15 percent of insurance claims, weather-related water damage accounted for 11 percent of the claims while theft only accounted for 6 percent.

The publication notes that the wind can do more damage than one may think. For example, a storm coming into the country can lead to loose or damaged shingles, doors or windows. The wind may even wreak havoc on your home through branches of trees or patio furniture.

The good thing is that wind damage is often covered in most home insurance policies. However, for those who live in hurricane-prone areas, such coverage may be excluded.

"If you find that it is excluded, buy a separate windstorm policy," said consumer analyst, Penny Gusner.

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