According to the Insurance Information Institute ( I.I.I.), there were more than 186,000 lightning claims in 2011. This resulted in a decrease of 13% from 2010 claims however, the average lightning claim was $5,112 , up 5.5% from 2010. So the reported claims have decreased while the claim amounts have increased. I.I.I. further reports that the average cost per claim has risen 93% from
2004 through 2011, at the same time that the actual number of paid claims fell by over 33 percent over
that time frame. They speculate that an increased use of lightning
protection systems has resulted in the decrease in claims.
From their Press Release: “The number of paid claims is down, but the average cost per claim
continues to rise, in part because of the huge increase in the number and value
of consumer electronics in homes,” said Loretta Worters, vice president of
the I.I.I. “Plasma and high-definition television sets, home entertainment
centers, multiple computer households, smart phones, gaming systems and other
expensive devices—which can all be destroyed by power surges—continue to have a
significant impact on claims losses.”
The take away from these statistics is to prevent increasingly costly damage in the 1st place and these claims will continue to decline.Learn more about whole home surge protection.
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