Personal Insurance Rates Up 3 Percent In July

In July 2014, personal insurance rates were down slightly for a composite rate of plus 3 percent as compared to plus 4 percent in June 2014.

Richard Kerr, CEO of MarketScout noted, “Homes of all values experienced a price increase of plus 3 percent in July. This includes all geographic areas of the US. Rates for homes in coastal areas tend to pull the rest of the market upwards.”

Personal articles floaters (jewelry, art, etc.) were unchanged at plus 2 percent.

The National Alliance for Insurance Education and Research conducted pricing surveys used in MarketScout's analysis of market conditions. These surveys help to further corroborate MarketScout's actual findings, mathematically driven by new and renewal placements across the United States.

A summary of the July 2014 personal lines rates is set forth below.

Personal Lines

Homeowners under $1,000,000 value

Up 3%

Homeowners over $1,000,000 value

Up 3%

Automobile

Up 3%

Personal Articles

Up 2%

 



USER COMMENTS:


  More Property & Casualty

More Property & Casualty >>
  Most Popular Property & Casualty

More Popular Property & Casualty >>
Hot Off the Wires  Hot off the Wires

More Hot News >>

insider icon Denotes premium content. Learn more about becoming an Insider here.