P/C Insurance Facts - Homeowners Insurance

Homeowners Insurance Homeowners insurance accounts for 11.3 percent of all property/casualty insurance premiums and 23.3 percent of personal lines insurance. Homeowners insurance is a "package" policy, providing both property and personal liability insurance. The typical policy covers the house, garage and other structures on the property-as well as personal property inside the house-against a wide variety of perils, such as fire, windstorm, vandalism and accidental water damage. The typical homeowners policy includes theft coverage on personal property anywhere in the world and liability for accidetnal harm caused to others. It also reimburses the policyholder for the additional cost of living elsewhere while his or her house is being repaired or rebuilt after a fire or other disaster. Earthquake damage and flood damage caused by external flooding aren't covered by standard homeowners policies, but coverage can be purchased separately.
In The U.S.
2006:

Average premium (1)	Rank	Average premium (2)	Rank (2)
Average Premiums For Homeowners and Renters Insurance Georgia
$703	27	$215	9
Alabama
$894	10	$223	6
Mississippi
$989	6	$252	2
Louisiana
$1,257	3	$245	3
Tennessee
$706	26	$208	11
(1) Based on the HO-3 homeowner package policy for owner-occupied dwellings, 1 to 4 family units. Provides "all risks" coverage (except those specifically excluded in the policy) on buildings and broad named-peril coverage on personal property, and is the most common package written. (2) States with the same premium receive the same rank. (3) Based on the HO-4 renters insurance policy for tenants. Includes broad named-peril coverage for the personal property of tenants.

Insurance Through FAIR Plans Fair Access to Insurance Requirements (FAIR) Plans were created in the late 1960s to make property insurance more readily available to those who had difficulty obtaining it in certain states because of abnormal exposure to risks over which they had no control. The plans, operated by the insurance industry, make insurance available to properties meeting established standards, regardless of location or exposure. All FAIR Plan policies insure for losses from fire, vandalizm, riot and windstorm. About a dozen states offer some form of homeowners insurance, which includes liability coverage. The California FAIR Plajn also covers areas prone to brush fires. The Georgia Underwriting Association (GUA) administers this state's FAIR Plan.
Insurance Provided By FAIR Plans
2007 (1):
Habitational Policies:	$2,412,253
Commercial Policies:	$114,053
Exposure(1)($000)	$684,829,667
(1) Does not include the FAIR Plans of Arkansas, Hawaii, North Carolina and Louisiana Citizens.

State	Habitational Policies	Commercial Policies	Exposure ($000)
Insurance Provided By FAIR Plans By State, SE, 2005
Georgia³	26,509	2,099	4,402,709
Florida (CPIC³)	1,457,624	82,875	485,073,231
(1) Does not include the FAIR Plans of Arkansas, Hawaii, North Carolina and Louisiana Citizens. (2) Citizens Property Insurance Corporation, which combined the FAIR and Beach Plans. (3) Includes a wind and hail option for certain coastal communities. Source: Property Insurance Plans Service Office