Personal Lines Premiums Increase Slightly In July
The US Personal lines market pricing was up 2 percent in July 2015.
Richard Kerr, CEO of MarketScout noted, “On average, personal lines insurers increased homeowners rates for all home values in July. This could be based somewhat on the pending wind season, as those adjustments will impact the aggregate rate as well.”
Homeowners’ policies with coverage A value under $1,000,000 experienced an upward rate adjustment of plus 2 percent in July as compared to plus 1 percent in June. Homeowners’ policies with coverage A over $1,000,000 in value also adjusted up 1 percent from flat (no increase) to plus 1 percent.
Auto and personal articles pricing was unchanged from June to July 2015.
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.
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