Take Cover: Lightning Caused $1.2B in Homeowners Claims in 2023, Says Triple-I

Damage to U.S. homes due to lightning resulted in $1.2 billion in homeowners insurance claims in 2023, up 30% from 2022..

The number of lightning-caused U.S. homeowners insurance claims increased by 13.8% over 2022, with numbers from the top 19 claims states contributing to 57% of the total, according to the Insurance Information Institute (Triple-I). The average cost per claim increased 14.6% from $15,280 in 2022 to $17,513 in 2023, added in the industry trade association who compiled the data to coincide with Lightning Safety Awareness Week (June 23-29).

“Rising inflation, including higher replacement, construction and labor costs impacted claim costs for the year,” said Sean Kevelighan, CEO, Triple-I.

Lightning affected 700,000 policyholders in 2023, and the top 10 states accounted for $712.8 million of the total claims payments. Texas led all others in lightning-claim costs—$194.3 million, or an average of about $41,650 per claim.

Florida, the state with the most thunderstorms, led the states in the number of claims at about 6,000, with a total cost of claims of about $104.5 million.

The Lightning Protection Institute (LPI) said lightning can strike 100 times per second. Tim Harger, executive director of the organization that provides resources for lightning protection systems, said they “play a crucial role in safeguarding homes, businesses and communities from the potential downtime and destruction caused by lightning strikes.”