NAIC Releases Annual Homeowners Insurance Report

The National Association of Insurance Commissioners today released its 2005 Homeowners Insurance Report, which provides data on market distribution and average cost by policy form and amount of insurance.

The report, highlights of which may be accessed through the hyperlinks provided below, includes countrywide and state–specific premium and exposure information for non–commercial dwelling fire insurance and for homeowners insurance package policies.

Should you have any questions or comments, please do not hesitate to contact this office.

 

 

NAIC Releases Annual Homeowners Insurance Report

KANSAS CITY, Mo. (Dec. 17, 2007) — The National Association of Insurance Commissioners (NAIC) today released its 2005 Homeowners Insurance Report, providing data on market distribution and average cost by policy form and amount of insurance.

The report includes countrywide and state–specific premium and exposure information for non–commercial dwelling fire insurance and for homeowners insurance package policies. It also contains descriptions of the data and a discussion about the way certain economic, demographic and natural phenomena impact the price of homeowners insurance.

The data in the report includes written exposures (earned house years) and aggregate written premiums by state and countrywide for the 2005 data year. It contains three tables that show individual state and countrywide exposures by policy type, individual policy form, as well as amount of insurance coverage, which is divided into ranges with percentages of total exposures provided for each range.

Data from the report was collected from insurance statistical agents for all states except Texas and California, both of which directly supply data to the NAIC. The Florida data excludes policies written by Citizen’s Property Insurance Corporation, the state’s insurer of last resort, and therefore are not directly comparable to those of other states.

Highlights of the report, which are available for viewing in the NAIC’s Pressroom, include:
• Sample: Countrywide Exposures, Premiums and Aggregate Premiums and State Average Premiums by Policy Form
• Important Information (Caveats) about Comparing Average State Premiums

The tables shown contain countrywide exposures, premiums and average premiums for several different types of policies. The entire report has, among its many features, a state–by–state breakdown of this information.

The full report (publication code: HMR-ZU-07) is available for purchase on the NAIC Web site at https://external-apps.naic.org/insPubs/.