More than $1.2 billion in U.S. homeowners insurance claims were paid in 2023 to more than 70,000 policyholders, with $194 million attributed to Texas alone, according to the Insurance Information Institute (Triple-I).

Based on national insurance claims data collected for Lightning Safety Awareness Week (June 23-29), Triple-I estimates that the total value of U.S. homeowners insurance claims caused by lightning increased by more than 30% in 2023, rising to 1.27%. $1 billion from $950 million in 2022.

The number of claims resulting from lightning increased by 13.8% from 62,189 in 2022 to 70,787 in 2023, with the 19 largest claims countries contributing more than half (57%) of the total. The average cost per lightning claim increased 14.6% from $15,280 in 2022 to $17,513 in 2023.

“Higher inflation, including higher replacement, construction and labor costs, impacted claims costs for the year,” said Sean Kivlighan, CEO of Triple-I. “Lightning Safety Awareness Week highlights the risks that lightning strikes pose to life and property and how insurance companies and policyholders are working to reduce these risks through effective mitigation efforts.”

Read more: Personal auto insurance profitability on track – Triple-I

Severe convective storms, among the most common and damaging natural disasters in the United States, are caused by warm, moist air rising from the ground. These storms appear in different ways depending on weather conditions, including thunderstorms with lightning, tornadoes, hail, and damaging straight winds.

Florida, the state with the most thunderstorms, remained the top state for the number of lightning claims in 2023, with 6,003 claims. However, Texas had the highest average cost per claim at $41,654.

Damage caused by lightning, such as fire, is covered by standard homeowners insurance policies. Some homeowners policies also provide coverage for power surges resulting directly from a lightning strike.

The Lightning Protection Institute (LPI) notes that lightning strikes can occur at a staggering 100 times per second. LPI Executive Director Tim Harger emphasized that mitigating lightning risks begins with a comprehensive pre-storm assessment.

“Lightning protection systems play a critical role in protecting homes, businesses and communities from potential shutdowns and destruction caused by lightning strikes,” he said.

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