US lightning-related insurance claims down 16.5% in 2024: Triple-I

U.S. insurers paid $1.04 billion in lightning-related homeowners insurance claims in 2024, marking a 16.5% decrease from the $1.24 billion paid in 2023, according to the Insurance Information Institute (Triple-I).

The total number of lightning-caused claims fell to 55,537 in 2024, down 21.5% from 70,787 in 2023, marking the lowest level recorded since before 2017.

More than half of all claims came from the top 10 states, with Florida, Texas, and California leading the nation.

Florida remained the top state by number of lightning-related claims, totalling 4,780. However, Texas reported the highest average cost per claim at $38,558, compared to Florida’s $23,686. The national average stood at $18,641.

Damage from lightning, including fire, is typically covered under standard homeowners, condo, renters, and business insurance policies. Some homeowners policies also provide coverage for power surges directly caused by lightning strikes.

Sean Kevelighan, CEO of Triple-I, said, “Fewer claims and a decline in severity indicate increased awareness, and improved mitigation.

“Nonetheless, lightning remains a significant threat to property and safety, particularly during storm season.”

Michal Brower of State Farm, said, “Lightning remains a costly and unpredictable threat, with ground surges causing nearly half of all claims.

“These events can cause extensive damage to electrical systems, appliances and even structural issues. The damage underscores the critical need for homeowners to be aware of the risks, invest in protective measures, and stay prepared, especially in high-risk regions where lightning strikes are most frequent and damaging.”

Tim Harger, executive director at LPI, whose organisation provides resources for the design, installation and inspection of lightning protection systems, added, “Whether it’s a family home or a mission-critical facility, no property is immune to lightning.

“The most effective time to prevent lightning damage is before a storm. A lightning risk assessment paired with a professionally installed protection system can make all the difference in keeping people safe and operations uninterrupted.”

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.