Homeowners' insurance rates (for homes under $1 million) are up 4% since last September, a National Alliance for Insurance Education and Research pricing survey revealed.
According to the survey, automobile and personal articles overages were up compared to this time last year. While homeowners' rates for homes under a $1 million were up 4%, rates for homes over $1 million in value were up 3%. Similarly, automobile and personal articles rates were up 2% and 1% respectively.
Although rates are up compared to this time last year, the study also revealed that coverages are down when comparing rates from August to September. While automobile rates were up 3% in August, they were only up 2% in September. Similarly, personal articles coverages were up 2% in August, but only 1% in September.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
