Homeowners Insurance Losses, 2017-2021 (1)

 

Year Claim frequency (2) Claim severity (3) Year Claim frequency (2) Claim severity (3)
2017 6.44 $15,928 2020 6.28 14,844
2018 6.21 14,563 2021 5.32 16,048
2019 5.35 14,031 Average (4) 5.92 15,091
(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.