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Residential Insurance Claims
The most common types of residential (homeowners) insurance claims typically fall into a few key cat
Residential claims often relate to damage or loss resulting from natural events, accidents, vandalism, or theft. Below is a list of common insurance claim types that homeowners might encounter:
1. Wind and Hail Damage
This is one of the most frequent causes of homeowners insurance claims across many regions in the U.S. It includes damage to roofs, siding, and windows caused by windstorms, tornadoes, hurricanes, and hail.
2. Water Damage (Non-flood)
Water damage can occur from burst pipes, plumbing issues, appliance leaks (like dishwashers or water heaters), or HVAC system leaks. It’s important to note that flood damage is not covered under standard homeowners insurance policies and requires separate flood insurance.
3. Fire and Smoke Damage
This type of claim often leads to high-value losses due to structural damage and loss of personal property. Fire and smoke damage can stem from electrical faults, kitchen fires, candles, and more.
4. Theft and Vandalism
Theft and vandalism claims include stolen property or damage resulting from break-ins and malicious destruction, which tend to be more prevalent in urban areas.
5. Weather-Related Damage (Other than Wind/Hail)
This category encompasses issues like ice dams, heavy snow collapses, and lightning strikes. Lightning can also damage electronics and potentially cause fires, leading to property damage claims.
6. Liability Claims
Liability claims arise when an individual is injured on your property and you are deemed responsible. Common examples include dog bites, slip-and-fall accidents, or damage caused to a neighbor’s property by a falling tree.
7. Falling Objects
Claims can also arise from trees, branches, or debris from storms that cause damage to roofs, siding, or vehicles.
8. Frozen Pipes
This is especially common in colder climates where homes are not adequately winterized, leading to potential water damage claims.
9. Flood Damage (if covered)
While standard homeowners insurance does not cover floods, claims can be made under the NFIP (National Flood Insurance Program) or private flood insurance, which are common in high-risk areas.
10. Claim Frequency vs. Cost
When examining homeowners insurance claims, wind and hail damage are the most frequent, while fire and liability claims tend to be the most expensive on average.
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