Lightning-Related Losses Continue to Grow

04/02/2010

Lightning strikes may be fleeting - but the damage they leave behind is not.

A recent report from the Insurance Information Institute showed that total losses caused by lightning damage reached $798 million in 2009. This is significantly less than the $1 billion incurred in 2008, but maintains the consistent growth witnessed during the past five years.

"Make no mistake, lightning plays a substantial role in the damage done to homes and businesses every year," Loretta Worters, vice president with the III, said. "But some losses are preventable when using the proper building protection systems such as surge protectors, lightning rods, conductors and ground rods."

Standard business and homeowners insurance policies have coverage for damage associated with lightning, like fires. Individuals may also want to consider coverage for power surges and automobiles. Surge protectors can be used to prevent damage to utility lines.

Property is not the only thing that can suffer injury from a lightning strike. The institute referred to data from the National Oceanic and Atmospheric Administration showing that lightning led to 34 fatalities in 22 states and Puerto Rico in 2009. Florida was home to five of these deaths, more than any other state.

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