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Tag Archive for 'lightning'

Beware Electronics: 23.4 Million Lightning Flashes Increases Chance of Loss

Between 2004-2006, the cost of insurance claims for lightning strikes nearly doubled, although the actual number of claims shrank dramatically. An industry trade group says “fancy new TVs and videogame consoles are to blame.”

With 23.45 million lightning flashes being recorded nationwide in 2011, and as the general public consumes more and more technology each day, the risk of loss due to a lightning strike grows as well. Electronics such as flatscreen TVs, computers and videogame consoles are all susceptible to power surges.

These types of insured losses related to lightning strikes totaled almost $1 billion in 2011 alone!

Are policyholders protected when they incur this type of loss or to that note, do they have enough coverage if the lightning was to cause damage to the property?

Our BDA Client Network, which is made up of restoration contractors nationwide, find that in times of loss, many policyholders do not have sufficient coverage to fully cover the damages incurred to their contents or property. And when that happens, it can creative a negative impact on the relationship between the policyholder and the agent, as the policyholder almost always assumes they have enough coverage.

If you are a restoration contractor that has come into this type of situation, we’d love to hear about it! You can reply to this blog post or email us at info@theBDAway.com

You can also read the full story at:

http://tinyurl.com/cgeewbr



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