Filed Under:Markets, Personal Lines

Study: Homeowners Claim Costs Rising as Both Frequency and Severity Increase

Increases in claim severity and, more recently, frequency are responsible for a 7.4 percent annualized rate of increase in homeowners claims costs from 1997 to 2011, the Insurance Research Council says in a new study.

The IRC says that in 2011 alone, homeowners claim costs per insured home—which includes houses, condominiums and apartments—increased by 27 percent.

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