Le Lézard
Subject: Economic News/Analysis

Lightning Caused $952 Million in U.S. Insurance Claims in 2022

More than $950 million in lightning-caused U.S. homeowners insurance claims were paid out in 2022 to 62,000-plus policyholders, with $125 million of the total attributable to California alone, according to the Insurance Information Institute (Triple-I).

Based on national insurance claims data compiled to coincide with Lightning Safety Awareness Week (June 18-24), the Triple-I found:

Severe convective storms are among the most common, most damaging natural catastrophes in the United States. The result of warm, moist air rising from the earth, they manifest in various ways, depending on atmospheric conditions ? from drenching thunderstorms with lightning, to tornadoes, hail, or destructive straight-line winds.

"Insurers are moving toward predicting and preventing losses by advocating for resilience in coordination with the real-time application of technology," stated Sean Kevelighan, CEO, Triple-I. "Lightning Safety Awareness Week highlights the dangers lightning poses to life and property and how insurers and policyholders are reducing these risks."

State Rankings

Florida?the state with the most thunderstorms?saw the greatest number of lightning claims in the U.S. in 2022, with 5,504. California, however, had the highest average cost per claim at $36,319, followed by Texas with $25,286.

Damage caused by lightning, such as fire, is covered by standard homeowners insurance policies. Some homeowners policies provide coverage for power surges that are the direct result of a lightning strike.

The Lightning Protection Institute (LPI) notes the key to personal safety and risk mitigation is to take the necessary steps to protect property before a storm. "When it comes to protecting homes, businesses or critical facilities in communities, we know that a properly installed lighting protection system is scientifically proven to mitigate the damage from a lightning strike," said Tim Harger, executive director, LPI.


Facts and Statistics:




National Lightning Safety Awareness Week (June 18-24, 2023)

About the Insurance Information Institute

With more than 50 insurance company members ? including regional, super-regional, national, and global carriers ? the Insurance Information Institute (Triple-I) is the #1 online source for insurance information in the U.S. The organization's website, blog and social media channels offer a wealth of data-driven research studies, white papers, videos, articles, infographics and other resources solely dedicated to explaining insurance and enhancing knowledge.

Unlike other sources, Triple-I's sole focus is creating and disseminating information to empower consumers. It neither lobbies nor sells insurance. Triple-I offers objective, fact-based information about insurance ? information that is rooted in economic and actuarial soundness. Triple-I is affiliated with The Institutes Risk and Insurance Knowledge Group.

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