7 key takeaways from the LexisNexis Home Trends report

2018 is drawing to a close, but it won't be forgotten soon. For many, it was a year filled with heartbreak and devastation as extreme weather events battered homes, cities and countries around the world. Until the issue of climate change is proactively handled, insureds everywhere should consider what this means in terms of their coverage. As extreme weather events continue to grow in size and scale, its effects will be felt in a higher capacity going forward. Not all weather risks are equal in the U.S. Some insureds will be more exposed to hail, fire, wind or any other type of peril. The best thing to do is be prepared. Insureds everywhere can stay a step ahead with the 2018 LexisNexis Home Trends Report. Related: Devastating storms seen spurring action on disaster preparation

Built with homeowners in mind

In addition to insights on loss cost, frequency and severity, the report includes details on seasonality, distribution of catastrophe claims and geographic trends. The full report can be found on the company's website. "Following a year of devastating hurricanes and fires, 2017 was one of the worst years in recent history for catastrophe losses," says George Hosfield, senior director, home insurance, LexisNexis RIsk Solutions. "We at LexisNexis Risk Solutions aggregate this data and release this report and interactive website so that home insurers can generate insights to better select and manage risk, provide more sophisticated pricing at point of quote and renewal, and better meet homeowner needs." With this in mind, here are 7 key home trends to know in 2018, courtesy of LexisNexis Risk Solutions. Related: 5 most expensive causes of home property damage