NEWS BRIEF
New Colorado Auto Insurance Law
November 11, 2008 - Starting this month, the mail and inboxes of Colorado drivers will begin filling up with notices from their car insurance companies informing customers of a new "opt-out" requirement due to a new Colorado Law that takes effect January 1, 2009. More...
Lightning & Insurance
Am I covered?
Standard homeowners and business insurance policies cover fire and other damage due to a lightning strike. Some even cover damage due to a resulting electrical surge - check with your company for details. If you carry comprehensive on your auto policy, it covers lightning damage to your car.
Claims cost
177,000 lightning-related homeowners claims were filed in 2007, causing nearly $1 billion in insured losses according to the Insurance Information Institute, with the average claim costing $5,321.
The cost of homeowner claims due to lightning strikes rose 28% between 2004 and 2007 even though the number of claims was down. The difference in cost is mainly due to more costly electronics increasingly found in today's homes.
Protecting your property
Install a lightning protection system on your building. Such a system helps protect your building by providing a specific path for the lightning to travel to the ground without damaging your property along the way. Have a licensed electrician install lighting rods and protection systems, as they need to be properly anchored to work.
Use surge protectors to protect sensitive - and valuable - electronics and prevent electrical fires. For strongest protection, UL listed surge arrestors may be installed on electrical service panels, including incoming phone, cable, satellite and data transmission lines. Note that power strips are not the same as surge protectors and offer little protection.
Unplug it. Not only will you save energy, but unplugging electronics such as computers and televisions while not in use will protect them from potential lightning damage.
Lighting facts & safety tips
Visit the Lightning Protection Institute and Colorado Division of Emergency Management for more lightning facts and personal safety tips.
Updated:
November 18, 2008 11:14 AM
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