Fire is the second most frequent cause of large homeowners property claims, according to a recent analysis of claims incidence at Travelers Property Casualty.
“In our experience, one of every three losses over $10,000 is fire-related,” said Peter McMurtrie, vice president, Claim Services.
Overall, fire is the cause of one out of every 25 homeowners property claims at Travelers, demonstrating that fire results in some of the most extensive losses.
“In the winter, and especially at holiday time, people tend to increase their use of candles, fireplaces, wood stoves, and electrical decorations that can lead to fires in the home,” added McMurtrie.
Was this article valuable?
Here are more articles you may enjoy.
State Farm Agrees to $15M Settlement for Underpaid Vehicle Claims 
NYC Mayor Eyes City-Run Insurance Program for Affordable Housing 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Nationwide: Consumers Say Insurance Should Evolve for Micromobility Vehicles 
