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探花精选

Number Of Lightning-Related Homeowners 探花精选 Claims Up In 2016, But Severity Down

Florida, Texas, Georgia And Louisiana Remain Top States For Lightning Claims; Lightning Safety Awareness Week is June 18鈥24

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I.I.I. New York Press Office: 212-346-5500; media@iii.org

NEW YORK, June 15, 2017 鈥 The number of homeowners insurance claims from lightning strikes and electrical surges in the United States rose in 2016, compared with 2015; however, the average cost that insurers paid on those claims fell, according to a new analysis by the听听(I.I.I.).听 听

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The study, done in partnership with 听found:

  • More than $825 million in lightning claims was paid out last year to more than 100,000 policyholders. 听
  • Total insured losses caused by lightning rose 4.5 percent from 2015 to 2016, although overall losses have declined 12.4 percent since 2007.
  • There were 109,049 lightning claims in 2016, up 9.7 percent from 2015.
  • Over fifty percent of claims were related to electrical surge damaging components or wiring, while power surges from transformer or service line shorts were also contributing factors.

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鈥淭he average cost per claim dropped 4.7 percent from 2015 to 2016,鈥 said James Lynch, FCAS MAAA, chief actuary at the I.I.I. 鈥淗owever, the overall average cost per claim has risen 42.3 percent since 2007. By comparison,鈥 he noted, 鈥淭he rose only 15.8 percent in the same period.鈥

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Homeowners 探花精选 Claims And Payout for Lightning Losses, 2007-2016

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Year Value of Claims听 ($ millions) Number of Claims Average Cost Per Claim
2007 $942.4 听听听听听听听 177,100 $5,321.0
2008 听听听听听听听听听听听听听听听听 1,065.5 听听听听听听听 246,200 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 4,329.0
2009 听听听听听听听听听听听听听听听听听听听 798.2 听听听听听听听 185,789 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 4,296.0
2010 听听听听听听听听听听听听听听听听 1,033.5 听听听听听听听 213,278 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 4,846.0
2011 听听听听听听听听听听听听听听听听听听听 952.5 听听听听听听听 186,307 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 5,112.0
2012 听听听听听听听听听听听听听听听听听听听 969.0 听听听听听听听 151,000 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 6,400.0
2013 听听听听听听听听听听听听听听听听听听听 673.5 听听听听听听听 114,740 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 5,869.0
2014 听听听听听听听听听听听听听听听听听听听 739.0 听听听听听听听听听 99,871 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 7,400.0
2015 听听听听听听听听听听听听听听听听听听听 790.1 听听听听听听听听听 99,423 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 7,947.0
2016 听听听听听听听听听听听听听听听听听听听 825.7 听听听听听听 109,049 听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 7,571.9
Percent change, 2015-2016 4.5% 9.7% -4.7%
Percent change, 2007-2016 -12.4% -38.4% 42.3%

Source: 探花精选 Information Institute, State Farm庐.

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State by State Numbers

Florida鈥攖he state with the most thunderstorms鈥攔emained the top state for lightning claims in 2016, with 10,385, followed by Texas (9,098), Georgia (8,037) and Louisiana (5,956).

Top 10 States By Number of Lightning Claims, 2016

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Rank State Number of claims Average cost per claim Value of claims ($ millions)
1 FL 听听听听听听听听听听 10,385 $6,526 $67.8
2 TX 听听听听听听听听听听听听听 9,098 听听听听听听听听听听听听听听听听听听 9,580 听听听听听听听听听听听听听听听听听听听听听 87.2
3 GA 听听听听听听听听听听听听听 8,037 听听听听听听听听听听听听听听听听听听 8,250 听听听听听听听听听听听听听听听听听听听听听 66.3
4 LA 听听听听听听听听听听听听听 5,956 听听听听听听听听听听听听听听听听听听 5,291 听听听听听听听听听听听听听听听听听听听听听 31.5
5 NC 听听听听听听听听听听听听听 5,889 听听听听听听听听听听听听听听听听听听 7,162 听听听听听听听听听听听听听听听听听听听听听 42.2
6 CA 听听听听听听听听听听听听听 4,764 听听听听听听听听听听听听听听听听听听 9,951 听听听听听听听听听听听听听听听听听听听听听 47.4
7 AL 听听听听听听听听听听听听听 4,294 听听听听听听听听听听听听听听听听听听 6,604 听听听听听听听听听听听听听听听听听听听听听 28.4
8 IL 听听听听听听听听听听听听听 3,870 听听听听听听听听听听听听听听听听听听 7,424 听听听听听听听听听听听听听听听听听听听听听 28.7
9 AR 听听听听听听听听听听听听听 3,422 听听听听听听听听听听听听听听听听听听 5,882 听听听听听听听听听听听听听听听听听听听听听 20.1
10 VA 听听听听听听听听听听听听听 3,331 听听听听听听听听听听听听听听听听听听 8,036 听听听听听听听听听听听听听听听听听听听听听 26.8
听 Top 10 听听听听听听听听听听 59,046 $7,559 $446.3
听 Other 听听听听听听听听听听 50,003 听听听听听听听听听听听听听听听听听听 8,313 听听听听听听听听听听听听听听听听听听听 415.7
听 Total U.S. 听听听听听听听听 109,049 $7,905 $862.0

Source: 探花精选 Information Institute, State Farm庐.

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Homeowners 探花精选 Coverage

Damage caused by lightning, such as a fire, is covered by standard homeowners insurance policies. Some policies provide coverage for power surges that are the direct result of a lightning strike, which can cause severe damage to appliances, electronics, computers and equipment, phone systems, electrical fixtures and the electrical foundation of a home. 听

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In recognition of Lightning Safety Awareness Week, June 18 鈥 24, the I.I.I. and the听听(LPI) encourage homeowners to install a听听in their homes.听

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"Lightning protection systems that follow the guidelines of NFPA are designed to protect your home by providing a specified path to harness and safely ground the super-charged current of the lightning bolt,鈥 said Kim Loehr, Communications Director for LPI, a national organization that promotes lightning protection education, awareness and safety.

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To locate an LPI-certified lightning protection system installer in your area,听.

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RELATED LINKS

Facts and Statistics:听

Consumer Alert:听

Infographic:听

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ADDITIONAL RESOURCES

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THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.

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探花精选 Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500;

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