Dallas-based insurance exchange MarketScout analyzes the Personal Lines Rate Trends each month
Overall, the U.S. personal lines rates measure plus 3 percent in November. Homeowner’s numbers were the same as October as was Personal Articles, whose rates actually have been the same since September. Automobile insurance was the only line of coverage that saw a rate increase in November moving up a percentage point in November, from plus two to plus three percent.
Some personal lines agents are securing actual year-on-year rate decreases for their clients; however, they could be sacrificing coverage or changing deductibles in order to get the reductions,” noted MarketScout CEO Richard Kerr in commenting on this month’s trends in personal lines.
A look at the numbers
The following chart highlights the rates for Personal Lines for both the month of October as well as September 2014, thereby giving a month to month comparison of the rate trends. As you can see the rate trends for each category have not changed at all in the last two months.
| Personal Lines | November 2014 | October 2014 | September 2014 |
| Homeowners under $1,000,000 value | Up 4% | Up 4% | Up 4% |
| Homeowners over $1,000,000 value | Up 3% | Up 3% | Up 3% |
| Automobile | Up 3% | Up 2% | Up 2% |
| Personal Articles | Up 1% | Up 1% | Up 1% |
