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The below table represents trends existing in contents insurance available within Australia. The Contents Insurance series are derived by indexing the original data, provided by Insurance Statistics Australia, to the March quarter 2004. The indexed series is then smoothed by applying a moving average technique.

How to use this table

The numbers in the series do not represent dollar values or frequencies. They represent the percentage change in the index numbers between two consecutive or distant quarters. This provides an indication of the underlying trend change in premiums, claims frequency, claims size and cost per policy.

The value of each series is indexed to the March quarter 2004. This means that the March quarter 2004 value is assigned an index number of 100 and subsequent values of the series are assigned index numbers that show the percentage change in the series from that quarter.

The indexed series is then smoothed using a moving average technique, to remove short term volatility in the underlying series, making it easier to identify the underlying trend.

For example, if the average smoothed indexed premium at the -10 quarter is 153.5 and the average smoothed indexed premium at the Sept-11 quarter is 158.9, premiums between the two distant quarters have risen by 3.5 per cent.

Formula:(158.9 -153.5/ 153.5) x 100 = 3.5

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Home Contents Insurance (National)

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Quarter Average premium Average claim size (qtr) Claim frequency (qtr) Cost per policy
Mar-2004 100.0 100.9 84.5 84.9
Jun-2004 100.7 105.1 73.1 76.2
Sep-2004 101.5 109.8 69.6 76.5
Dec-2004 102.1 111.4 74.4 83.4
Mar-2005 102.5 112.0 76.3 85.7
Jun-2005 103.0 114.7 68.8 78.8
Sep-2005 103.6 120.2 66.2 79.9
Dec-2005 104.2 126.5 70.2 89.4
Mar-2006 104.8 135.0 70.5 94.6
Jun-2006 105.2 141.1 61.9 86.7
Sep-2006 105.5 138.9 56.1 77.2
Dec-2006 106.0 133.1 62.2 82.2
Mar-2007 106.7 140.2 69.1 96.7
Jun-2007 107.4 152.1 68.5 102.9
Sep-2007 108.3 163.8 66.6 107.8
Dec-2007 109.3 162.9 67.7 110.1
Mar-2008 109.9 156.5 67.0 105.7
Jun-2008 109.5 145.9 63.1 93.2
Sep-2008 109.5 155.7 60.9 95.6
Dec-2008 111.5 183.4 64.3 118.4
Mar-2009 114.8 204.8 65.2 133.5
Jun-2009 117.9 196.0 58.0 115.9
Sep-2009 119.5 172.8 56.0 97.4
Dec-2009 120.5 159.3 65.3 103.3
Mar-2010 121.7 163.5 71.9 116.8
Jun-2010 123.2 158.8 66.1 102.6
Sep-2010 124.7 170.2 63.2 110.4
Dec-2010 126.1 199.1 69.7 148.0
Mar-2011 127.0 221.1 74.9 173.4
Jun-2011 127.9 217.5 66.1 150.3
Sep-2011 129.1 202.0 54.9 113.3
Dec-2011 130.8 194.2 54.2 104.5
Mar-2012 133.0 194.5 58.7 115.7
Jun-2012 135.3 190.4 53.3 102.5
Sep-2012 137.7 195.1 51.4 101.6
Dec-2012 140.2 208.0 55.3 117.5
Mar-2013 142.7 218.4 56.8 126.3
Jun-2013 144.8 215.5 50.2 109.8
Sep-2013 146.4 215.6 42.7 92.4
Dec-2013 147.4 220.0 41.5 91.1
Mar-2014 147.8 217.2 43.1 94.0
Jun-2014 147.9 208.6 41.2 86.5
Sep-2014 147.9 208.3 42.1 88.2
Dec-2014 148.0 216.5 51.4 113.1
Mar-2015 147.6 231.6 60.3 139.9
Jun-2015 146.5 247.8 59.4 144.8
Sep-2015 145.0 262.5 52.5 135.6
Dec-2015 143.8 268.2 47.7 127.7
Mar-2016 143.1 266.3 46.8 125.1
Jun-2016 142.8 260.3 47.2 122.8
Sep-2016 142.8 253.0 47.4 119.5
Dec-2016 143.2 261.7 51.0 133.6
Mar-2017 143.7 280.9 52.1 145.9
Jun-2017 144.2 298.8 47.4 142.0
Sep-2017 145.0 299.2 42.9 129.8
Dec-2017 145.8 283.6 42.6 121.5
Mar-2018 146.5 273.8 43.6 119.5
Jun-2018 147.0 273.5 43.3 118.8
  • Source of underlying data: Insurance Statistics Australia.
  • Original data has been indexed to the March quarter 2004 and trended using a 7 term Henderson moving average.
  • The data does not include State or Commonwealth Government taxes and charges.

 

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