What’s hot and what’s not on the list for home break-ins and robberies?
According to the Insurance Information Institute (I.I.I.), as of 2011, jewelry tops the list with 17 percent of total homeowner claims while electronics is next with 13 percent of these claims. In third place, furniture comes in at 11 percent. What’s not hot: Beds and mattresses.
The average amount paid for each homeowners claim, between 2005-09 was $27,691 for fire, lightening and debris removal, according to ISO, a Verisk Analytics company. Number two might be a surprise. It’s bodily injury and property damage at $18,050. Wind and hail, by comparison, was ranked at $6,881. Theft came in at $2,805.
The average number of claims filed per 100 policies is defined as claims frequency. Over the ’05-’09 period, wind and hail topped the list at 2.19 while water damage and freezing was ranked 1.44. Theft came in at .50 while fire, lightening and debris removal at .49.
While 97 percent of homeowners had homeowners insurance to replace their jewelry and electronics, only 29 percent of renters purchased renters insurance, a 2011 I.I.I. poll conducted by ORC International found.