Jacksonville, Florida - Increasing home insurance claims are on the rise due to the simple fact that more people are making claims. Home insurance claim frequency is through the roof over the past 24 months.
A new study was conducted by the IRC (Insurance Research Council). They found that the average claim payment per person in the United States rose above 170% from 1997 to 2011. The actual costs per insured house increased to nearly 30% in that same time period respectively.
The study concluded that during this period of time the annulated rate of increase was over 7%.
From the study, “Trends in Homeowners Insurance Claims,” the Insurance Research Council reviewed and separated regular claims from catastrophic claims. These average paid claims for both types had many similarities. They showed around $8,000 for non-catastrophic claims and $7,500 for catastrophic claims.
Homeowners insurance premiums are on the rise every year. This is due to many factors that surround certain geographic areas. We would like to ask you, have your home insurance premiums increased significantly over this same period of time? What do you think we can do to slow down the rise in house insurance premiums in America?
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