The Insurance Information Institute reports 6.1% of insured households in the United States filed a homeowners insurance claim in 2020 – up from 5.29% in 2019. The most common causes of homeowners claims, according to Experian, are:

• Medical payments: 0.3% of claims, with an average cost of $7,147
• Theft: 0.6% of claims, with an average cost of $4,415
• Bodily injury and property damage: 2% of claims, with an average cost of $30,324
• Miscellaneous property damage and financial incidents: 8% of claims, with an average cost of $820 to $6,663
• Water damage and freezing: 19.9% of claims, with an average cost of $11,650
• Fire and lightning: 23.8% of claims, with an average cost of $77,340
• Wind and hail: 45.5% of claims, with an average cost of $11,695

Trust that they have been sold the appropriate policy and will be protected by their carrier when disaster strikes are things most consider heavily when choosing where to purchase a policy. The truth is, however, not every incident where damage occurs to your home will result in a paid claim; no matter how comprehensive your coverage may be. In the slideshow above, we'll examine the eight most common reasons insurers deny homeowners claims, according to Credible.

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