Insured Losses

2016 Consumer Insurance Survey

The I.I.I. conducted this survey to collect and measure consumers and homeowners knowledge and sentiments about insurance, including: 

 

  • What they know about insurance—including the purchase of separate policies to cover flood and earthquake damage
  • Their attitudes toward the cost of their insurance coverage
  • How they comparison shop for homeowners insurance; among other topics. 

 

 

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Background on: Wildfires

The topic

As many as 90 percent of wildland fires in the United States are caused by humans, according to the U.S. Department of Interior. Some human-caused fires result from campfires left unattended, the burning of debris, negligently discarded cigarettes and intentional acts of arson. The remaining 10 percent are started by lightning or lava.

Background on: Flood insurance

The topic

Flooding is the most common and costly natural disaster in the United States, causing billions in economic losses each year. Most U.S. natural disasters declared by the president involve flooding.

There is no coverage for flooding in standard homeowners or renters policies or in most commercial property insurance policies. Coverage is available in a separate policy from the National Flood Insurance Program (NFIP) and from a few private insurers. Despite efforts to publicize this, many people exposed to the risk of floods still fail to purchase flood insurance.

Spotlight on: Dog bite liability

Overview

Almost 90 million dogs are owned as pets in the United States according to a 2017-2018 survey by the American Pet Products Association.

According to the Centers for Disease Control and Prevention, about 4.5 million people are bitten by dogs each year. Among children, the rate of dog-bite–related injuries is highest for those 5 to 9 years old. Over half of dog-bite injuries occur at home with dogs that are familiar to us.

Facts + Statistics: Flood insurance

National Flood Insurance Program

Flood damage is excluded under standard homeowners and renters insurance policies. However, flood coverage is available in the form of a separate policy both from the National Flood Insurance Program (NFIP) and from a few private insurers.                                          

Facts + Statistics: Hurricanes

The official Atlantic hurricane season runs from June through November, but occasionally storms form outside those months. September is the most common month for hurricanes making landfall in the U.S., followed by August and October, according to an analysis of 1851 to 2015 data by the National Oceanic and Atmospheric Administration. No hurricanes made U.S. landfall before June and after November during the period studied.

Facts + Statistics: Lightning

In 2016 there were 38 lightning deaths in the United States, compared with 26 in 2015 and 2014. From 2006 to 2016 on average about 31 people died each year from lightning strikes in the United States, according to the National Weather Service. The significant decline in lightning deaths is due to fewer farmers working in fields, along with technological advances, better lightning protection and awareness of lightning safety.

Dog bite claims: infographic

Dog bite claims received by State Farm Mutual Automobile Insurance Company

Facts + Statistics: Pet statistics

Pet insurance

The pet insurance industry got its start almost a century ago in Sweden where about half that country’s pets are now insured. In North America, Veterinary Pet Insurance Co., a subsidiary of Nationwide, sold its first pet insurance policy in 1982 to cover a dog playing Lassie on television.

Facts + Statistics: Homeowners and renters insurance

Homeowners insurance expenditures

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