In 2016, Colorado and Texas homeowners suffered the greatest percentage of catastrophic losses due to extreme weather and other perils, according to a study of home insurance trends.
The six-year LexisNexis Risk Solutions study indicates that despite the rise of catastrophe losses, overall peril loss costs continued to decline.
The second annual LexisNexis Home Trends Report identifies key insurance industry trends by peril – wind, hail, fire, water, theft, liability and other.
Nearly half (48 percent) of all catastrophe losses originated in just two states: Texas and Colorado. The report found that hail and wind caused by thunderstorms – rather than extreme weather events like hurricanes – were the biggest loss causes.