Rates for personal articles insurance reached 4% during 2022's first quarter, compared with 3% during the previous period. Personal auto rates were also up during the most recently closed quarter, increasing 4.3% compared with a small increase seen during the final quarter of 2021. (Credit: Robert Kneschke) Rates for personal articles insurance reached 4% during 2022's first quarter, compared with 3% during the previous period. Personal auto rates were also up during the most recently closed quarter, increasing 4.3% compared with a small increase seen during the final quarter of 2021. (Credit: Robert Kneschke)

Homes valued under $1 million saw an average insurance rate increase of 5.3% in the first quarter of 2022, while houses valued at more than $1 million saw a 7% increase during the period, according to MarketScout.

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
NOT FOR REPRINT

© 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.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

Coverage & Policy Issues
Personal Lines