Lightning Caused $1.2 Billion in US Homeowners Claim Payouts in 2023; Severity Trends Upward for the Year
NEW YORK, June 17, 2024—More than $1.2 billion in lightning-caused U.S. homeowners insurance claims were paid out in 2023 to more than 70,000 policyholders, with $194 million attributable to Texas alone, according to the Insurance Information Institute (Triple-I).
Based on national insurance claims data compiled to coincide with Lightning Safety Awareness Week (June 23-29, 2024), the Triple-I estimates that:
The total value of lightning-caused U.S. homeowners insurance claims was up more than 30% in 2023 ($1.27 billion) from 2022 ($950 million).
The number of lightning-caused U.S. homeowners insurance claims increased by 13.8% between 2022 and 2023, from 62,189 to 70,787, with numbers from the top 19 claims states contributing to more than half (57%) of the total.
The average cost per lightning-caused claim increased 14.6% from $15,280 in 2022 to $17,513 in 2023.
“Rising inflation, including higher replacement, construction and labor costs impacted claim costs for the year,” said Sean Kevelighan, CEO, Triple-I. “Lightning Safety Awareness Week highlights the dangers lightning poses to life and property and how insurers and policyholders are reducing these risks through effective mitigation efforts.”
Severe convective storms are among the most common, most damaging natural catastrophes in the U.S. The result of warm, moist air rising from the earth, they manifest in various ways, depending on atmospheric conditions – from drenching thunderstorms with lightning, to tornadoes, hail, or destructive straight-line winds.
Homeowners Insurance Claims And Payout for Lightning Losses, 2017-2023
YearValue of claims
($ millions)Number of
claimsAverage cost
per claim2017$916.61 85,020 $10,7812018908.93 77,898 11,6682019920.05 76,86011,97120202,066.74 71,551 28,88520211,313.06 60,851 21,5782022950.22 62,189 15,28020231,239.72 70,787 17,513Percent change 2023-202230.5%13.8%14.6%2023-201735.3%-16.7%62.4%
State Rankings
Not surprisingly, Florida – the state with the most thunderstorms – remained the top state for number of lightning claims in 2023, with 6,003. However, Texas had the highest average cost per claim at $41,654.
Top 10 States For Homeowners Insurance Lightning Losses By Number Of Claims, 2023
RankStateValue of
claimsNumber of
claimsAverage cost
per claim9Pennsylvania27,219,0442,21412,2966Louisiana35,167,3753,05011,5297North Carolina35,544,2432,88112,33710Tennessee39,792,3302,13618,6308New York50,785,8482,45820,6595Alabama54,981,7563,50815,6734California83,367,7914,60818,0902Georgia87,110,7615,16116,8771Florida$104,544,2856,003$17,4163Texas194,288,8884,66441,654 Top 10 States$712,802,32036,68419,431
Damage caused by lightning, such as fire, is covered by standard homeowners insurance policies. Some homeowners policies provide coverage for power surges that are the direct result of a lightning strike.
The Lightning Protection Institute (LPI) noted that lightning strikes can occur at an astonishing 100 times per second.
“Mitigating the risks of lightning strikes starts with a thorough assessment before a storm,” said Tim Harger, executive director at LPI, whose organization provides resources for the design, installation and inspection of lightning protection systems. “Lightning protection systems play a crucial role in safeguarding homes, businesses and communities from the potential downtime and destruction caused by lightning strikes.”
