Dallas-based insurance exchange MarketScout analyzes the Personal Lines Rate Trends each month
While a soft market in the Commercial Lines insurance marketplace seems imminent, the Personal Lines marketplace is on more stable footing at the moment.
“The personal insurance market has been relatively stable in 2014 with rate increases ranging from 2 percent to 4 percent,” commented Richard Kerr, CEO of MarketScout, after reviewing the premium and rating environment of 2014. “We expect continued pricing stability in 2015 absent cataclysmic events.”
For example, both Homeowners and auto policies were one percent less expensive in December than in November. Moreover, homes were up to $1,000,000 in value were up three percent while those that were over $1,000,001 were up two percent. Auto insurance rates were also up two percent while personal articles were up one percent.
A look at the numbers
The following chart highlights the rates for Personal Lines for both the month of December as well as for the three anterior months, thereby giving a month to month comparison of the rate trends.
| Personal Lines | December 2014 | November 2014 | October 2014 | September 2014 |
| Homeowners under $1,000,000 value | Up 3% | Up 4% | Up 4% | Up 4% |
| Homeowners over $1,000,000 value | Up 2% | Up 3% | Up 3% | Up 3% |
| Automobile | Up 2% | Up 3% | Up 2% | Up 2% |
| Personal Articles | Up 1% | Up 1% | Up 1% | Up 1% |
