Average Homeowners Losses, 2010-2014 (1)

(Weighted average, 2010-2014)

Cause of loss Claim frequency (2) Claim severity (3)
Property damage (4) 6.83 $9,024
Fire and lightning 0.38 39,791
Wind and hail 3.13 8,041
Water damage and freezing 1.86 7,958
Theft 0.47 3,786
All other (5) 0.99 4,800
Liability (6) 0.15 $15,221
Bodily injury and property damage 0.10 20,453
Medical payments and other 0.04 2,598
Credit card and other (7) (8) $554
Average (property damage and liability), 2010-2014 6.98 $9,155
(1) For homeowners multiple peril policies (HO-2, HO-3, HO-5 and HE-7 for North Carolina). Excludes tenants and condominium owners policies. Excludes Arkansas and Texas. (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) First party, i.e., covers damage to policyholder's own property. (5) Includes vandalism and malicious mischief. (6) Payments to others for which policyholder is responsible. (7) Includes coverage for unauthorized use of various cards, forgery, counterfeit money and losses not otherwise classified. (8) Less than 0.01. Source: ISO®, a Verisk Analytics® business.