Source: Insurance Information Institute, 2024 (most current data available) Damage from wind and hail is the most common type of homeowners insurance claim, but fires are generally the most expensive. Homeowners’ Losses by Severity of Claims (weighted average, 2018–2022) Why Homeowners Depend on Insurance Theft $5,024 Fire/lightning $83,991 Bodily injury/property damage (liability) $31,690 Wind/hail $13,511 Medical payments (liability) $13,081 Water damage/ freezing $13,954
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