The Most Common Home Insurance Claims

House Covered with an Emergency Tarp, with Boarded Up Windows.

As a Homeowner, You Should Never Neglect to Make a Home Insurance Claim in the Event of Damage.

Every homeowner should have home insurance. A requirement while paying a mortgage, smart homeowners do not discontinue the service once the home belongs fully to them. You never know when a disaster may strike, whether a fire or massive storm, and devastate your home. Major home repairs can cost a small fortune, and a lack of insurance can lead to the total loss of your home. If you remain on the fence about home insurance, you should consider the most common claims and the costs associated with each.

The Most Common Damages Claimed on Home Insurance

Depending on where you live, your home stands susceptible to different disasters. For example, those in the Northeast must endure severe winter storms, while the South and Gulf Coast region are prone to hurricanes. Tornadoes are the bane of the Midwest, while the West Coast deals with earthquakes and massive forest fires. Regardless of the disaster, however, you’ll see that wind and water are the most common culprits for damage.

  • Wind and Hail Damage: The most common claim has a frequency rating of 2.13, with an average cost of $7,163.
  • Water Damage and Freezing: The second-most common claim, with a frequency rating of 1.42, water damage typically costs $5,531 to repair.
  • Fire, Lightning and Debris Removal: With a claim frequency of .52, this type of damage typically costs a whopping $24,153.
  • All Other Property Damage: A frequency rating of 1.06 applies to this work, which typically costs around $3,532.

As you can see, wind and hail damage is by far the most frequent claim, and occurs more than four times as frequently as claims for fire and lightning damage. Your roof will suffer the brunt of damage from almost any weather event. For repair of your roof, including emergency services, and help with your insurance provider, trust our team. Of course, we can’t handle every element of storm damage. If you have damaged fencing, for example, you can find an exceptional source for fence installation in Fort Worth, TX.

To learn more about our services with storm damage repair and claims against home insurance in Rockwall, TX, call Trake Construction Management, LLC today at (972) 922-2422.