US Personal Insurance Rates Rise A Percent In May
Pricing holding steady says MarketScout
The composite rate personal lines insurance premiums in May 2015 remains steady at plus 1 percent said MarketScout in its latest report. As for the May numbers, the one percent increase matches the rate increase of April 2015 as well.
In fact, MarkeScout says, the only real change in rates this past month concerned homeowners with Coverage A values under $1,000,000. According to Richard Kerr, CEO of MarketScout, “The reduction in pricing for homes under $1,000,000 is not surprising. This is a much sought after market with literally dozens of insurers trying to gain market share.”
An in-depth look at the May 2015 numbers….
Personal Lines APRIL 2015 MAY 2015
Homeowners under $1,000,000 value Up 1% Flat
Homeowners over $1,000,000 value Up 1% Up 1%
Automobile Up 2% Up 2%
Personal Articles Up 0% Flat