AVERAGE HOMEOWNERS LOSSES, 2003-2007 (1)

(Weighted average, 2003-2007)

Cause of loss Claim frequency (2) Claim severity (3)
Property damage    
Fire, lightning and debris removal

0.52

$24,153

Wind and hail

2.13

7,163

Water damage and freezing

1.42

5,531

Theft

0.50

2,494

All other (4)

1.06

3,532

Liability

 

 

Bodily injury and property damage

0.14

15,854

Medical payments and other

0.08

3,055

Credit card and other (5)

(6)

927

Average (property damage and liability), 2003-2007

5.84

$7,368

(1) For homeowners multiple peril policies. Excludes tenants and condominium owners policies.
(2) Claims per 100 house years (policies).
(3) Accident year incurred losses, excluding loss adjustment expenses, i.e., indemnity costs per accident year incurred claims.
(4) Includes vandalism and malicious mischief.
(5) Includes coverage for unauthorized use of various cards, forgery, counterfeit money and losses not otherwise classified.
(6) Less than 0.01.

Source: ISO.