Summer Storms & Homeowner’s Insurance

Lakewood Financial Homeowner's InsuranceRecently, it seems like we can’t go one week without a thunderstorm. And while sometimes it’s nice to curl up with a book with the hot beverage of your choice, that very thunderstorm that’s helping you relax could be the cause of a lot of stress.

According to the Insurance Institute for Business & Home Safety, property losses due to lightning strikes exceed $1 billion annually. While most homeowner’s insurance policies cover damage caused by lightning, surge damage may not be. Surge damage poses the most risk to your beautiful new flat screen TV, gaming systems, computers, and phones. Almost anything that’s plugged into an outlet is potentially at risk. Talk to your local insurance agent soon about your homeowner’s insurance and see if surge damage is covered under your current policy.  Don’t have homeowner’s insurance yet? Get a quote today. Your expensive electronics aren’t the only things at risk; lightning strikes can cause structure fires that can destroy your house or your business.

Here are a few steps you can take to reduce your risk of lightning damage:

  • Install a lightning protection system (LPS) to safely dispel of the energy from the  lightning
  • Install surge protectors on the AC power wiring
  • Install additional surge protectors on signal wiring
  • Unplug expensive equipment during a storm

Lightning safety precautions could make you eligible for lower homeowner’s insurance premiums. So if you install a LPS, make sure you call your insurance agent and let them know.