The National Lightning Safety Institute provides us with statistics on lightning strikes.
Did you know that the chances of a person being struck by lightning are pretty slim: 1 in 280,000? However, when it comes to lightning striking a home, the frequency is much higher: a one in two hundred chance!
Insurance companies seem to underscore the possibility with a 2015 report finding that related insurance damage claims topped even the high rate of $825 million.
As alarming as it may be, the fact that standard homeowners insurance can cover this type of peril up to the limits of the particular policy provides a form of peace of mind to those thinking people who are worried about disasters like lightning.
Losses associated with lightning may incorporate the following:
• Damage related to personal property, including items such as electronics and appliances
• Structural damage as well as property that was caused by a fire caused by the direct strike of lightning
Topics related to lightning strikes are not limited to just the above information. Read on for a roundup of other related matters.
Additional things related to lightning damage coverage that you should know
Electrical surges caused by lightning strikes can significantly damage connected personal electronic equipment. The possible losses can reach immense financial proportions in today’s society, where electronics is an investment that most make. Because the insurance payout is based on actual cash value, equal to the current price of similar items, reduced by depreciation, it may be worthwhile for someone in a high-frequency lightning strike to add replacement cost coverage to your home insurance policy.
Insured homeowners are encouraged to review homeowners policies to see if additional living expenses are included in the coverage. If a related fire renders a home unfit for occupancy while it is being repaired or rebuilt, such coverage will pay for comparable temporary lodging.
Insurance experts also have another underlined tip for homeowners: Be sure to draw up a complete list of all items in your home so there’s less hassle in the process in the event of a related claim.
Just as each face in a home differs in its uniqueness, so does each homeowner’s exposure to hazards. Let an experienced, independent agency navigate your homeowners insurance so you know you’ll have coverage for your individual needs and requirements.