Water damage and liability claims

A new survey released by the Texas region’s branch of Allstate Insurance has found that water damage and liability claims are among the most pressing and costly issues brought to Texas insurers by their customers.

According to data assessed between 2000 and 2007, Allstate found that water damage ranked as the most common claim from its Texas homeowner insurance customers. It was followed by wind and hail damage as the second and third most common claim.

When it came to which individual claims proved to be the most costly, liability claims came in first. This was followed by fire and dog bite claims as the second and third most expensive claims respectively.

It was noted that the most expensive claims were so because they affected the greatest amount of individuals, and added that some less common claims could be more expensive on a case-to-case basis.

“Purchasing homeowner insurance is one of the most important financial decisions an individual or family makes,” said Jeff Hiemenz, an Allstate agent located in Arlington, Texas. “By understanding what drives the price we pay for insurance, customers can make more confident choices about the coverage they need.”

In order to find the proper home insurance coverage that fits one’s home and location, Allstate recommended looking online and speaking to insurance agents to find out which coverage suits them best.

http://www.usinsuranceonline.com/news/article/texas-homeowners-cite-water-damage-as-most-common-home-insurance-claim-1958/

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Posted in Insurance.