Triple-I: US insurers paid $1.04 billion in lightning-related claims in 2024, down 16.5%

By Mia MacGregor

June 20 - (The Insurer) - U.S. insurers paid $1.04 billion in lightning-related homeowners insurance claims in 2024, a 16.5% decrease from the $1.24 billion paid out in 2023, according to the Insurance Information Institute (Triple-I).

The total number of claims attributed to lightning also saw a notable reduction, decreasing by 21.5% to 55,537 in 2024, marking the lowest figure since before 2017.

More than half of these claims were concentrated in the top 10 states, with Florida, Texas, and California at the forefront.

Florida, which experiences the highest frequency of thunderstorms annually, maintained its position as the leading state for lightning claims in 2024, with 4,780. Texas followed with 4,369 claims, California with 4,005, and Georgia with 3,376.

Although Texas had fewer claims, it recorded the highest average cost per claim at $38,558, according to Triple-I, followed by Florida, California, and New York.

“Fewer claims and a decline in severity indicate increased awareness, and improved mitigation,” said Triple-I CEO Sean Kevelighan.

“Nonetheless, lightning remains a significant threat to property and safety, particularly during storm season.”

Michal Brower, public relations specialist and media spokesperson for State Farm, added: “Lightning remains a costly and unpredictable threat, with ground surges causing nearly half of all claims. These events can cause extensive damage to electrical systems, appliances and even structural issues.”