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Commercial, Personal Rates Up: MarketScout

The composite rate for commercial insurance coverage in the U.S. rose an average of 1.5% in September 2014 according to MarketScout...
October 22, 2014

The composite rate for commercial insurance coverage in the U.S. rose an average of 1.5% in September 2014, according to MarketScout. Contractors paid the highest year on year increase at plus 4%, followed by transportation at plus 3%. Service accounts were plus 2% while manufacturing, habitational, public entity and energy risks measured plus 1%. In personal lines, automobile insurance rates were up 3% in August and up 2% in September.

MarketScout reported that homeowners' rates in September rose 4% for homes under $1 million and increased 3% for homes over $1 million in value. Coverage for auto and personal articles also were up compared to this time last year, but were down slightly when comparing September to August.

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