Average Homeowners Losses, 2014-2018 (1)

(Weighted average, 2014-2018)

Cause of loss Claim frequency (2) Claim severity (3)
Property damage (4) 5.53 $13,687
     Fire and lightning 0.28 79,785
     Wind and hail 2.30 11,200
     Water damage and freezing 2.05 10,849
     Theft 0.26 4,391
     All other (5) 0.64 6,598
Liability (6) 0.11 20,371
     Bodily injury and property damage 0.08 26,872
     Medical payments and other 0.03 3,707
Credit card and other (7) (8) $8,273
Average (property damage and liability), 2014-2018 5.64 $13,814
(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.