Average Homeowners Losses, 2012-2016 (1)

(Weighted average, 2012-2016)

Cause of loss Claim frequency (2) Claim severity (3)
Property damage (4) 5.79 $10,440
     Fire and lightning 0.31 50,315
     Wind and hail 2.38 8,625
     Water damage and freezing 1.99 9,633
     Theft 0.37 4,146
    All other property damage (5) 0.74 5,052
Liability (6) 0.13 17,228
     Bodily injury and property damage 0.09 23,010
     Medical payments and other 0.04 2,864
     Credit card and other (7) (8) 441
Average (property damage and liability), 2012-2016 5.92 $10,592
(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 Alaska, Texas and Puerto Rico. (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 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.