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Homeowners Insurance Claims And Payout for Lightning Losses, 2017-2024

Year Value of claims
($ millions)		 Number of
claims		 Average cost
per claim
2017 $916.61  85,020 $10,781
2018 908.93  77,898 11,668
2019 920.05  76,860 11,971
2020 2,066.74  71,551 28,885
2021 1,313.06  60,851 21,578
2022 950.22  62,189 15,280
2023 1,239.72  70,787 17,513
2024 1,035.28  55,537 18,641
Percent change      
2024 – 2023 -16.5% -21.5% 6.4%
2024 – 2017 12.9% -34.7% 72.9%

Source: Insurance Information Institute, State Farm®.

Homeowners Insurance Claims And Payout for Lightning Losses, 2017-2024

Year Value of claims
($ millions)		 Number of
claims		 Average cost
per claim
2017 $916.61 85,020 $10,781
2018 908.93 77,898 11,668
2019 920.05 76,860 11,971
2020 2,066.74 71,551 28,885
2021 1,313.06 60,851 21,578
2022 950.22 62,189 15,280
2023 1,239.72 70,787 17,513
2024 1,035.28 55,537 18,641
Percent change
2024 – 2023 -16.5% -21.5% 6.4%
2024 – 2017 12.9% -34.7% 72.9%

Source: Insurance Information Institute, State Farm®.

Homeowners Insurance Claims And Payout for Lightning Losses, 2017-2023

Year Value of claims
($ millions)		 Number of
claims		 Average cost
per claim
2017 $916.61       85,020  $10,781
2018 908.93       77,898  11,668
2019 920.05       76,860 11,971
2020 2,066.74       71,551  28,885
2021 1,313.06       60,851  21,578
2022 950.22       62,189  15,280
2023 1,239.72       70,787  17,513
Percent change      
2023-2022 30.5% 13.8% 14.6%
2023-2017 35.3% -16.7% 62.4%

Source: Insurance Information Institute, State Farm®.

Homeowners Insurance Claims And Payout for Lightning Losses, 2017-2022

Year Value of claims
($ millions)		 Number
of claims		 Average cost
per claim
2017 $917 85,020 $10,781
2018 909 77,898 11,668
2019 920 76,860 11,971
2020 2,067 71,551 28,885
2021 1,313 60,851 21,578
2022 952 62,189 15,280
Percent change 
2022-2021 -27.6% 2.2% -29.2%
2022-2017 3.7% -26.9% 41.7%

Source: Insurance Information Institute, State Farm®.

Homeowners Insurance Claims And Payout for Lightning Losses, 2017-2022

Year Value of claims
($ millions)		 Number
of claims		 Average cost
per claim
2017 $917 85,020 $10,781
2018 909 77,898 11,668
2019 920 76,860 11,971
2020 2,067 71,551 28,885
2021 1,313 60,851 21,578
2022 952 62,189 15,280
Percent change 
2022-2021 -27.6% 2.2% -29.2%
2022-2017 3.7% -26.9% 41.7%

Source: Insurance Information Institute, State Farm®.

Homeowners Insurance Claims And Payout for Lightning Losses, 2017-2021

Year Value of claims
($ millions)		 Number
of claims		 Average cost
per claim
2017 916.6 85,020 10,781
2018 908.9 77,898 11,668
2019 920.1 76,860 11,971
2020 2,066.7 71,551 28,885
2021 1,313.1 60,851 21,578
Percent change      
2020-2021  -36.5% -15.0% -25,3%
2017-2020 43.3% -28.4% 100.1%

Source: Insurance Information Institute, State Farm®.

Homeowners Insurance Claims And Payout for Lightning Losses, 2017-2020

Year Value of claims
($ millions)		 Number
of claims		 Average cost
per claim
2017 $916.60 85,020 $10,781
2018 908.9 77,898 11,668
2019 920.1 76,860 11,971
2020 2,066.70 71,551 28,885
Percent change      
2019-2020 124.6% -6.9% 141.3%
2017-2020 125.5 -15.8 167.9

Source: Insurance Information Institute.

Homeowners Insurance Claims And Payouts For Lightning Losses, 2017-2021

Year Value of claims ($ millions) Number of claims Average cost per claim
2017 916.6 85,020 10,781
2018 908.9 77,898 11,668
2019 920.1 76,860 11,971
2020 2,066.7 71,551 28,885
2021 1,313.1 60,851 21,578
Percent change, 2020-2021 -36.5% -15.0% -25,3%
Percent change, 2017-2021 43.3% -28.4% 100.1%

Source: Insurance Information Institute, State Farm®.

Homeowners Insurance Claims And Payout For Lightning Losses, 2017-2019

Year Number of
claims		 Average cost
per claim 		 Value of claims
($ millions)
2017 85,020 $10,781 $916.6
2018 77,898 11,668 908.9
2019 76,860 11,971 920.1
Percent change      
2018-2019 -1.3% 2.6% 1.2%
2017-2019 -9.6 11.0 0.4

Source: Insurance Information Institute.

Homeowners Insurance Claims And Payout For Lightning Losses, 2016-2018

Year Number of
claims		 Average cost
per claim 		 Value of claims
($ millions)
2016 89,055 $9,628 $857
2017 85,020 10,781 916.6
2018 77,898 11,668 908.9
Percent change      
2017-2018 -8.4% 8.2% -0.8%
2016-2018 -12.5 21.2 6.0

Source: Insurance Information Institute.

Homeowners Insurance Claims And Payout for Lightning Losses, 2012-2016

            Percent change
  2012 2013 2014 2015 2016 2015-2016 2012-2016
Number of paid claims 151,000 114,740 99,871 99,423 109,049 9.7% -27.8%
Insured losses ($ millions) $969.0 $673.5 $739.0 $790.1 $825.7 4.5 -14.8
Average cost per claim  6,400.0 5,869.0 7,400.0 7,947.0 7,571.9 -4.7 18.3

Source: Insurance Information Institute, State Farm®.

Homeowners Insurance Claims And Payout For Lightning Losses, 2011-2015

            Percent change
  2011 2012 2013 2014 2015 2014-2015 2011-2015
Number of paid claims 186,307 151,000 114,740 99,871 99,423 -0.4% -46.6%
Insured losses ($ millions) $952.5 $969.0 $673.5 $739.0 $790.1 6.9 -17.0
Average cost per claim $5,112 $6,400 $5,869 $7,400 $7,947 7.4 55.5

Source: Insurance Information Institute, State Farm®.

HOMEOWNERS INSURANCE CLAIMS AND PAYOUT FOR LIGHTNING LOSSES, 2010-2014

            Percent change
  2010 2011 2012 2013 2014 2013-2014 2010-2014
Number of paid claims 213,278 186,307 151,000 114,740 99,871 -13.0% -53.2%
Insured losses ($ millions) $1,033.5 $952.5 $969.0 $673.5 $739.0 9.7 -28.5
Average cost per claim $4,846 $5,112 $6,400 $5,869 $7,400 26.1 52.7

Source: Insurance Information Institute, State Farm®.

HOMEOWNERS INSURANCE CLAIMS AND PAYOUTS FOR LIGHTNING LOSSES, 2009-2013

            Percent change
  2009 2010 2011 2012 2013 2012-2013 2009-2013
Number of paid claims 185,789 213,278 186,307 151,000 114,740 -24.0% -38.2%
Insured losses ($ millions) $798.1 $1,033.5 $952.5 $969.0 $673.5 -30.5 -15.6
Average cost per claim  $4,296 $4,846 $5,112 $6,400 $5,869 -8.3 36.6

Source: Insurance Information Institute, State Farm®.

HOMEOWNERS INSURANCE CLAIMS AND PAYOUTS FOR LIGHTNING LOSSES, 2008-2012

Percent change
2008 2009 2010 2011 2012 2008-2012 2011-2012
Number of paid claims 246,200 185,789 213,278 186,307 151,000 -38.7% -19.0%
Insured losses ($ millions) $1,065.5 $798.0 $1,033.5 $952.5 $969.0 -9.1 1.7
Average cost per claim $4,329 $4,296 $4,846 $5,112 $6,400 47.8 25.2

Source: Insurance Information Institute, State Farm ®.

HOMEOWNERS INSURANCE CLAIMS AND PAYOUTS FOR LIGHTNING LOSSES || 2008-2012

Percent change
2008 2009 2010 2011 2012 2008-2012 2011-2012
Number of paid claims 246,200 185,789 213,278 186,307 151,000 -38.7% -19.0%
Insured losses ($ millions) $1,065.5 $798.0 $1,033.5 $952.5 $969.0 -9.1 1.7
Average cost per claim $4,329 $4,296 $4,846 $5,112 $6,400 47.8 25.2

Source: Insurance Information Institute, State Farm ®.

DEFENSE COSTS AND COST CONTAINMENT EXPENSES AS A PERCENT OF INCURRED LOSSES, 2007-2009 (1)

($000)
2007 2008 2009
Amount As a percent of incurred losses Amount As a percent of incurred losses Amount As a percent of incurred losses
Products liability $949,839 77.6% $1,028,628 63.8% $1,029,911 86.2%
Medical malpractice 2,046,772 54.9 1,865,598 58.3 1,886,591 57.3
Commercial multiple peril (2) 2,705,572 19.8 1,811,415 34.3 1,799,507 43.7
Other liability 5,372,694 24.5 4,835,297 25.5 5,174,214 24.8
Workers compensation 2,903,862 12.2 2,642,574 11.8 2,407,144 10.8
Commercial auto liability 1,166,907 11.6 1,070,040 10.7 963,574 10.3
Private passenger auto liability 3,648,746 6.1 3,595,860 5.9 3,928,911 6.3
All liability lines $18,794,392 14.0% $16,849,412 13.8% $17,189,852 13.9%

(1) Net of reinsurance, excluding state funds.
(2) Liability portion only.

Source: SNL Financial LC.