HOMEOWNERS INSURANCE LOSSES, 2003-2007 (1) |
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Total homeowner losses |
Year |
Claim frequency (2) |
Claim severity (3) |
2003 |
7.08 |
$5,316 |
2004 |
6.59 |
8,105 |
2005 |
5.62 |
8,695 |
2006 |
5.19 |
6,982 |
2007 |
4.83 |
8,117 |
Average (4) |
5.84 |
7,368 |
(1) For homeowners multiple peril policies. Excludes tenants and condominium policies.
(2) Claims per 100 house years (policies).
(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, 2003-2007.
Source: ISO. |
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