Thursday, December 9, 2010
Apartment Insurance Cost Fell 6% In 2010, National Multi Housing Council Finds
The mean (nonweighted) average Total Cost of Risk (TCR) decreased by about 6% from 2009 to 2010. (Total Cost of Risk reflects the cost of the three principal components of the insurance premium: property, general liability and workers’ compensation.) The weighted average cost of risk, which is less distorted by very large or very small respondents, dropped by a full 14%.
“Our findings show that it’s a buyers’ market,” commented Jeanne McGlynn Delgado, NMHC’s Vice President of Business and Risk Management Policy. “The momentum of insurance rate decreases accelerated in 2010, following decreases in 2008 and 2009.” Read More > > >