| Homeowners Insurance Losses, 2016-2020 (1) |
听
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| |
Total homeowners losses |
|
Total homeowners losses |
| Year |
Claim frequency (2) |
Claim severity (3) |
Year |
Claim frequency (2) |
Claim severity (3) |
| 2016 |
5.03 |
$11,977 |
2019 |
5.29 |
13,868 |
| 2017 |
6.38 |
15,131 |
2020 |
6.01 |
13,955 |
| 2018 |
6.23 |
14,424 |
Average (4) |
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 policies. Excludes Alaska, Texas and Puerto Rico.
(2) Claims per 100 house-years (policies). One house-year represents policy coverage on a dwelling for 12 months.
(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, 2016-2020.
Source: ISO庐, a Verisk Analytics庐 business. |
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