The National Lightning Safety Institute gives us the statistics on lightning strikes.
Did you know that the odds of a person being struck by lightning are pretty slim: 1 in 280,000? However, when it comes to lightning striking a home, there is a much higher frequency: a one in two hundred chance!
Insurance companies seem to underscore the possibility with a 2015 report that found claims for related insurance damage topped even the lofty $825 million rate.
As alarming as it is, 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 can incorporate the following:
• Damage related to personal property, including items such as electronics and appliances
• Structural as well as property damage that was caused by a fire caused by a direct strike of lightning
Topics related to lightning strikes are not limited to just the above information. Read on for a summary 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 potential losses can reach huge financial proportions in today’s society, where electronics is an investment that most people make. Because the insurance payout is based on actual cash value, equal to the going price of similar items, reduced by depreciation, it may be worthwhile for someone in a high-frequency lightning occurrence to add replacement cost coverage to your home insurance policy.
Insured homeowners are advised to read homeowners policies to see if additional living expenses are included in coverage. If a related fire renders a dwelling unfit for occupancy while it is being repaired or rebuilt, such coverage will pay for comparable temporary accommodations.
Insurance experts also have another underlined recommendation for homeowners: Be sure to make a complete list of all the items in your home so that, in the event of a related claim, there are fewer complications in the process.
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.