By Rhonda Miller
PBN Staff Writer
KANSAS CITY, Mo. – The National Association of Insurance Commissioners found that Rhode Island homeowners pay the highest average premium in New England at $1,093, according to The Standard: New England’s Insurance Weekly.
The NAIC compiled data from 2010 for its report issued in December 2012.
Homeowners in the Ocean State paid more on average than Connecticut at $1,082 and Massachusetts at $1,060. Those three states, however, all had higher premiums than New York’s average of $1,051 and New Jersey’s average of $874.
The NAIC study found the homeowners’ insurance line experience challenges with rising losses due to natural disasters.