Homeowners Insurance Losses, 2013-2017 (1)

 

  Total homeowners losses   Total homeowners losses
Year Claim frequency (2) Claim severity (3) Year Claim frequency (2) Claim severity (3)
2013 4.87 $10,603 2016 5.12 $12,502
2014 5.23 11,274 2017 6.26 15,532
2015 6.04 11,721 Average (4) 5.51 $12,474
(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). (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, 2013-2017. Source: ISO®, a Verisk Analytics® business.