Ever wonder what the most common homeowners’ claims are? According to Brittney Meredith-Miller at Property Casualty 360, these are the top seven:
- Medical Payments – Average cost per claim: $7,147
- Theft – Average cost per claim: $4,415
- Bodily injury and property damage – Average cost per claim: $30,324
- Miscellaneous property damage and financial incidents – Average cost per claim: $820 to $6,773
- Water damage and freezing – Average cost per claim: $11,650
- Fire and lightning- Average cost per claim: $77,340
- Wind and hail – Average cost per claim: $11,695
The agency, as part of a homeowner’s policy review, will check your coverages to ensure your homeowner’s policy is comprehensive and you have additional insurance to address these potential claims in the right amounts.
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Source: Property Casualty 360