| Average Homeowners Losses, 2010-2014 (1) |
(Weighted average, 2010-2014)
|
| Cause of loss |
Claim frequency (2) |
Claim severity (3) |
| Property damage (4) |
6.83 |
$9,024 |
| Fire and lightning |
0.38 |
39,791 |
| Wind and hail |
3.13 |
8,041 |
| Water damage and freezing |
1.86 |
7,958 |
| Theft |
0.47 |
3,786 |
| All other (5) |
0.99 |
4,800 |
| Liability (6) |
0.15 |
$15,221 |
| Bodily injury and property damage |
0.10 |
20,453 |
| Medical payments and other |
0.04 |
2,598 |
| Credit card and other (7) |
(8) |
$554 |
| Average (property damage
and liability), 2010-2014 |
6.98 |
$9,155 |
(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 Arkansas and Texas.
(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. |
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