GITNUX MARKETDATA REPORT 2024

Statistics About The Most Insurance Policies Exclude Losses By

Insurance policies typically exclude losses caused by intentional acts, war, nuclear incidents, and specific natural disasters.

With sources from: iii.org, irmi.com, moneygeek.com, forbes.com and many more

Statistic 1

63% of standard home insurance policies exclude losses due to floods.

Statistic 2

Over 80% of house insurance policies exclude losses by termites.

Statistic 3

Roughly 40% of small businesses regard the common exclusion of losses due to reputational harm as a drawback of commercial insurance policies.

Statistic 4

By 2020, nearly 75% of U.S. insurers not include losses from genetically modified organisms (GMOs) in their standard farmer policies.

Statistic 5

As much as 90% of homeowners insurance policies exclude losses caused by molds.

Statistic 6

An estimated 50% of insurance policies exclude losses incurred from earthquakes.

Statistic 7

About 80% of losses from nuclear hazards are excluded from most insurance policies.

Statistic 8

95% of standard travel insurance policies exclude losses due to pandemics according to a March 2020 report.

Statistic 9

Approximately 85% of renter's insurance policies exclude losses from natural disasters.

Statistic 10

Over 70% of mobile phone insurance policies exclude losses by unattended theft.

Statistic 11

Around 69% of boat insurance policies exclude losses by machinery damage after the machinery's first few years.

Statistic 12

Roughly 75% of recreational vehicle (RV) insurance policies exclude losses by depreciation.

Statistic 13

Over 60% of farm insurance policies exclude losses by market price fluctuation.

Statistic 14

Around 55% of car insurance policies exclude losses due to racing

Statistic 15

Most professional liability insurance policies (around 70%) exclude loss due to claims of dishonest, fraudulent, criminal, or intentional non-compliant acts.

Statistic 16

Approximately 65% of commercial general liability insurance policies exclude losses by professional services.

Statistic 17

Over 80% of health insurance policies exclude losses by cosmetic surgeries.

Statistic 18

Around 99% of shipping insurance policies exclude losses by ordinary wear and tear.

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In this post, we present a comprehensive overview of exclusions in various insurance policies based on a range of statistics. From common exclusions like floods and termites in home insurance to more specific exclusions in travel and health insurance, these statistics shed light on the limitations of coverage that policyholders may encounter. Dive into the data below to understand the extent of these exclusions across different types of insurance policies.

Statistic 1

"63% of standard home insurance policies exclude losses due to floods."

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Statistic 2

"Over 80% of house insurance policies exclude losses by termites."

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Statistic 3

"Roughly 40% of small businesses regard the common exclusion of losses due to reputational harm as a drawback of commercial insurance policies."

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Statistic 4

"By 2020, nearly 75% of U.S. insurers not include losses from genetically modified organisms (GMOs) in their standard farmer policies."

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Statistic 5

"As much as 90% of homeowners insurance policies exclude losses caused by molds."

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Statistic 6

"An estimated 50% of insurance policies exclude losses incurred from earthquakes."

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Statistic 7

"About 80% of losses from nuclear hazards are excluded from most insurance policies."

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Statistic 8

"95% of standard travel insurance policies exclude losses due to pandemics according to a March 2020 report."

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Statistic 9

"Approximately 85% of renter's insurance policies exclude losses from natural disasters."

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Statistic 10

"Over 70% of mobile phone insurance policies exclude losses by unattended theft."

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Statistic 11

"Around 69% of boat insurance policies exclude losses by machinery damage after the machinery's first few years."

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Statistic 12

"Roughly 75% of recreational vehicle (RV) insurance policies exclude losses by depreciation."

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Statistic 13

"Over 60% of farm insurance policies exclude losses by market price fluctuation."

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Statistic 14

"Around 55% of car insurance policies exclude losses due to racing"

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Statistic 15

"Most professional liability insurance policies (around 70%) exclude loss due to claims of dishonest, fraudulent, criminal, or intentional non-compliant acts."

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Statistic 16

"Approximately 65% of commercial general liability insurance policies exclude losses by professional services."

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Statistic 17

"Over 80% of health insurance policies exclude losses by cosmetic surgeries."

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Statistic 18

"Around 99% of shipping insurance policies exclude losses by ordinary wear and tear."

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Interpretation

In conclusion, the statistics presented highlight the extensive range of exclusions found within various insurance policies, ranging from common exclusions such as floods and termites to more niche exclusions like losses from GMOs and market price fluctuation. The prevalence of exclusions across different types of insurance policies underscores the importance of carefully reviewing and understanding the terms and conditions of one's insurance coverage to ensure adequate protection for potential risks.

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