Homeowners Insurance Losses, 2016-2020 (1)

 

  Total homeowners losses   Total homeowners losses
Year Claim frequency (2) Claim severity (3) Year Claim frequency (2) Claim severity (3)
2016 5.03 $11,977  2019 5.29 13,868 
2017 6.38 15,131  2020 6.01 13,955 
2018 6.23 14,424 Average (4) 5.79 13,962 
(1) For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes tenants and condominium policies. Excludes Alaska, Texas and Puerto Rico. (2) Claims per 100 house-years (policies). One house-year represents policy coverage on a dwelling for 12 months. (3) Average amount paid per claim; based on accident year incurred losses, excluding loss adjustment expenses, i.e., indemnity costs per accident year incurred claims. (4) Weighted average, 2016-2020. Source: ISO®, a Verisk Analytics® business.