Average Homeowners Losses, 2016-2020 (1)

(Weighted average, 2016-2020)

Cause of loss Claim frequency (2) Claim severity (3)
Property damage (4) 5.70 $13,804
     Fire and lightning 0.26 77,340
     Water damage and freezing 1.61 11,650
     Wind and hail 2.88 11,695
     Theft 0.19 4,415
     All other (5) 0.76 6,773
Liability (6) 0.09 23,611
     Bodily injury and property damage 0.07 30,324
     Medical payments and other 0.03 7,147
Credit card and other (7) (8) $820 (9)
Average (property damage and liability), 2016-2020 5.79 $13,962
(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. (9) Claim severity for credit card and other is significantly lower than was shown in previous years due to a change in the companies surveyed to produce the data. The new selection of companies use different exclusions which have been applied throughout the five years used in this chart. Source: ISO®, a Verisk Analytics® business.