Average Homeowners Losses, 2013-2017 (1)

(Weighted average, 2013-2017)

Cause of loss Claim frequency (2) Claim severity (3)
Property damage (4) 5.39 $12,322
     Fire and lightning 0.28 68,322
     Wind and hail 2.10 10,182
     Water damage and freezing 2.05 10,234
     Theft 0.31 4,264
     All other (5) 0.66 5,823
Liability (6) 0.12 $19,531
     Bodily injury and property damage 0.08 26,085
     Medical payments and other 0.03 3,465
Credit card and other (7) (8) $368
Average (property damage and liability), 2013-2017 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 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 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.