Home Insurance Rate Increases Moderate
NU Online News Service, June 2, 4:11 p.m. EDT?The cost of insuring homes is expected to rise by 2.8 percent this year?the smallest boost in five years?rising on average to $608, the Insurance Information Institute said.[@@]
The New York-based group said the projected increase represents a substantial slowdown from 2003 when homeowners insurance costs rose by an estimated 7.4 percent. The estimated $608 average cost for homeowners is up $17 from $591 in 2003, the I.I.I. observed. I.I.I. said it based its figures on U.S. Bureau of Labor CPI data, company filings and trend projections.
Recommended For You
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
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
