Home Insurance
Interior Damage
One of the things that your homeowner’s insurance policy covers is accidental damage to the interior of your house. No one ever stops to think of what all this could cover. Water damage, theft, fire, paint spill, and even glass breakage can be covered by your homeowners policy.
- The average water claim over the last few years involving frozen pipes is around $5500.
- The average theft claim is $2500.
- Claims for other interior damage average around $3500.
- Therefore, the average interior claim is above $4000 per claim.
Exterior Damage
Anyone who has ever been through a bad hail storm, knows the value of homeowner’s insurance. Exterior insurance claims make up a good portion of the insurance claims that are filed. Storms cause their fair share of damage to houses. Some common causes of exterior claims include:
- wind damage
- hail damage
- lightning damage
- fire
- and falling debris
Total Destruction
The most common insurance is to cover the event of total destruction of the house. At this point, you will receive much more than you ever paid into your policy premiums. The total replacement cost of homes can be a lot of money. The average home price in the country is over $250,000. Therefore, if you lose an average size house, you will receive $250,000 worth of benefits from your insurance company.
Total Benefits
While a total loss might be rare, most people will experience some sort of loss in their lifetime. Whether it is an interior or exterior claim, you will probably have to deal with one at some point. The average dollar amount for all claims is about $7500. Therefore, even if you only filed one claim over the life of your policy, it is worth $7500 to you. This makes homeowner’s insurance well worth the price that you have to pay for it.