Number of Homeowner Insurance Claims Per Year?

Discussion in 'P&C Insurance Forum' started by lmspeir, Oct 18, 2010.

  1. lmspeir
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    lmspeir Active Member

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    Hey, guys!

    I am trying to find out how many homeowner insurance claims are filed each year. Any ideas?

    Thanks!
    Larry
     
  2. Mr. Frog Dog
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    Mr. Frog Dog Member

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    Can you be more specific?
     
  3. saieddie
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    saieddie Well-Known Member

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  4. lmspeir
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    lmspeir Active Member

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    Just trying to get an estimate of the number of homeowner insurance claims filed with insurance companies on an annual basis.

    Or, another way to look at it - what are the odds I will have a claim against my homeowner's this year?
     
  5. VolAgent
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    VolAgent Well-Known Member

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    I'll let you in on a little secret, insurance pricing is based upon risk. The majority of your premium goes to pay for the risk, with a small amount added for administrative costs and profit. Figure 10%-20% is for the administrative costs and profit. That may be slightly higher or lower depending on the size and efficiency of the insurer.

    So, your premium is roughly proportional to the risk.

    The real question is, if you do not have homeowner's insurance, can you afford to pay to replace your home and furnishings, and/or pay the liability claim that you may incur?
     

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