"The national average rate increases for homeowners are not horrific. However, for those with homes in California and Florida, rates can be up as much as 25%," said MarketScout CEO Richard Kerr. (Credit: Maksim Kabakou/stock.adobe.com)
During the third quarter of 2021, personal line insurance rates increased 6.6%, according to MarketScout.
More aggressive pricing for homeowners policies is typical of the third quarter, which tends to see an increase of losses from wind and wildfire claims, according to Richard Kerr, CEO of MarketScout.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
