Personal Lines Rates Up 2% In September

Across the United States, the composite rate for personal lines insurance was up 2 percent in September 2016.

“Personal lines insurers are nervously watching Hurricane Matthew as of the publish date of this barometer,” stated Richard Kerr, CEO of MarketScout. “The current track of the storm could impact almost all personal lines insurers from Florida to North Carolina. Rate adjustments in these coastal states are very likely if Hurricane Matthew follows the projected path.”

All homeowners insurance rates were up an average of 2 percent in September 2016.

Automobile rates increased to plus 2 percent in September 2016 as compared to plus 1 percent in August 2016.

Valuable articles rates were flat.

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.