X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Electrically powered equipment is prone to lightning damage if a surge enters the electrical system. Lightning can travel from the utility power line to the electrical panel and through the home’s wiring to the outlets. Anything plugged into or connected to these components could sustain damage. (Credit- Gurzoglu/Shutterstock) Electrically powered equipment is prone to lightning damage if a surge enters the electrical system. Lightning can travel from the utility power line to the electrical panel and through the home’s wiring to the outlets. Anything plugged into or connected to these components could sustain damage. (Credit- Gurzoglu/Shutterstock)

Damage can happen in a flash. Lightning can impact whatever is in its path, from appliances to electronics or an entire electrical panel. And each item could wind up in an insurance claim.

The number of homeowners insurance claims related to lightning decreased between 2016-2018, according to data from the Insurance Information Institute, but the average cost of a claim increased during the same time frame, going from $9,628 in 2016 to $11,668. This could be the result of equipment being valued higher or being prone to more damage. Regardless, it’s important adjusters know how these items in the claims are damaged.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2022 ALM Global, LLC. All Rights Reserved.