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2023 LexisNexis® U.S. Home
Trends Report

Navigating loss trends with a seven-year perspective

Discover the latest by-peril trends for your home insurance book of business

Extreme weather events—from hurricanes and derechos to hail and fire storms—can be unpredictable, destructive and costly. Only having a single year of peril data could give home insurance carriers and homeowners a false sense of security.

LexisNexis® Risk Solutions publishes an annual report that provides seven-year trends for loss cost, frequency and severity across eight different perils: wind, hail, fire and lightning, weather related water, non-weather related water, theft, liability and other perils. The 2023 report, which is based on property exposures and losses for the period ranging from 2016 through 2022, highlights the importance of using seven-year trend data for building more accurate forecasts.

Download the most recent report today to see these insights and more:

  • Catastrophe and non-catastrophe claims by peril
  • U.S. states with the highest and lowest loss cost in the previous year
  • Frequency, severity and loss costs of claims by peril, by location and by month for the last seven years

Here's a sample of what you'll find inside:

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Over the last seven years, loss cost has trended upward across all perils, including a 6.2% increase from 2021 to 2022.

Loss cost decreased by 64.4% from 2021 to 2022 for weather related water claims

However, the upward seven-year trend provides a vivid illustration of why it’s important to consider longer-term data when assessing risk and pricing policies.

Catastrophe claims accounted for just 7% of fire and lightning losses in 2022, down from 11.2% in 2021.

Nevertheless, the seven-year trend indicates catastrophe losses are usually significantly higher.

Access White Paper Here

Previous Home Trend Reports 

2022 LexisNexis®  U.S. Home Trends Report

This year’s report highlights the importance of seven year trend data for carriers seeking to build more accurate cost forecasts.

2021 LexisNexis®  U.S. Home Trends Report

This year’s report highlights the devastating consequences of extreme weather events and their impact on homeowners and home insurance carriers. 

2020 LexisNexis®  U.S. Home Trends Report

This year’s report provides some welcome good news—that catastrophe claims and loss cost were down in 2019.