Homeowners Insurance Losses, 2015-2019 (1)

 

  Total homeowner losses   Total homeowners losses
Year Claim frequency (2) Claim severity (3) Year Claim frequency (2) Claim severity (3)
2015 5.75 $11,440 2018 6.21 $14,826
2016 5.03 11,973 2019 5.13 13,653
2017 6.24 15,501 Average (4) 5.67 $13,582
(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, 2015-2019. Source: ISO®, a Verisk Analytics® business.