Personal lines insurers across the U.S. adjusted the composite rate up an average of 1 percent in September 2015 as compared to a rate increase of plus 2 percent in August 2015.
“It appears the US personal insurance market will enjoy another year without a major hurricane hitting the mainland of the United States. As a result, rates could continue to be more and more competitive,” noted Richard Kerr, CEO of MarketScout.
Homeowners’ rates were plus 1 percent in September 2015 as compared to plus 2 percent in August 2015.
Automobile rates in September 2015 held steady at plus 2 percent.
Personal articles rates in September 2015 also held steady at plus 1 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.
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