Most Common And Most Expensive Causes Of Property Damage

Ross MaghanHomeowners InsuranceLeave a Comment

Researchers at Travelers have recently released their interactive report, The Top Ways Things Can Go Wrong, which identifies the most common and costliest causes of home damage.

The report examines eight years of Travelers’ national homeowners’ insurance claim data from 2009 to 2016 in order to inform clients about the biggest risks threatening their properties.

The report breaks down the types of claims that are most prevalent in four regions of the United States and some of the largest metropolitan areas, and analyzes claims data by seasons, as well.

In offering this information, Travelers recommends that homeowners perform regular home maintenance and periodically review their insurance with an independent agent.

“For many people, a house isn’t just a house,” Scott Humphrey, Second Vice President, Risk Control at Travelers said in a statement. “It’s a home — a place where families build memories. By sharing the most common causes of problems we see, we hope to help people protect their most valuable asset.”

Below are the top 5 most common and most expensive causes of home property damage:

Most Common

  • Wind – 24%
    High-velocity winds can uproot trees, damage roofs, collapse walls or worse.
  • Non-weather Water – 20%
    Plumbing, sewer or appliance leaks and failures can create devastating losses.
  • Hail – 16% 
    Hail typically damages roofs, but may also harm windows, siding and more.
  • Weather-related Water – 11%
    Leaky roofs, frozen pipes that burst and ice dams can really take a toll.
  • Theft – 6%
    Break-ins may result in both personal property losses and property damage.

Most Expensive

  • Fire – 25%
    Electrical, cooking, wildfire and other sources can put homes at risk for fire.
  • Hail – 20%
    Hail typically damages roofs, but may also harm windows, siding and more.
  • Non-weather Water – 17%
    Plumbing, sewer or appliance leaks and failures can create devastating losses.
  • Wind – 17%
    High-velocity winds can uproot trees, damage roofs, collapse walls or worse.
  • Weather-related Water – 7%
    Leaky roofs, frozen pipes that burst and ice dams can really take a toll.

Get ahead of the risks.

Fill out the form below to request a quote and information on how you can prepare for, and prevent property damage.