Homeowners Insurance Losses by Cause, 2018-2022 (1)

(Percent of losses incurred)

Cause of loss 2018 2019 2020 2021 2022
Property damage (2) 97.4% 96.7% 97.2% 97.0% 97.8%
     Wind and hail 40.5 38.3 48.3 39.8 40.7
     Water damage and freezing 24.0 29.0 19.6 23.4 27.6
     Fire and lightning  25.4 21.1 21.1 23.3 21.9
     Theft 1.0 1.0 0.6 0.7 0.7
     All other property damage (3) 6.5 7.2 7.6 9.8 6.9
Liability (4) 2.5% 3.3% 2.8% 2.9% 2.1%
     Bodily injury and property damage 2.3 2.9 2.4 2.4 1.6
     Medical payments and other 0.2 0.4 0.4 0.5 0.5
Credit card and other (5) 0.1 0.1 0.1 0.1 0.1
Total 100.0% 100.0% 100.0% 100.0% 100.0%
(1) For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes tenants and condominium owners policies. Excludes Alaska, Texas and Puerto Rico. (2) First party, i.e., covers damage to policyholder's own property. (3) Includes vandalism and malicious mischief. (4) Payments to others for which policyholder is responsible. (5) Includes coverage for unauthorized use of various cards, forgery, counterfeit money and losses not otherwise classified. Source: ISO®, a Verisk Analytics® business.