Improve Decisions in Areas with High Crime Rates

Our insurance clients look at both natural hazard and high crime risk when evaluating policy premiums. Do you look at both factors?

Underwriting homeowner policies for properties in areas with high crime rates can be stressful. Not only could your business experience an increase in crime-related property damage claims, but areas of higher theft-related crimes could mean more stolen property claims. Because both property damage and stolen property replacement is covered in most standard homeowner policies, it’s important to understand a property’s risk for property-related crime in order to more accurately price homeowner policies in high-risk areas.

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Accurate Area Crime Statistics and Crime Risk Data

While some insurers rely solely on government crime statistics, these counts are often incomplete and inaccurate due to the agency-centric method used by the Federal government. CoreLogic has instead adopted a geographic-centric method that provides more accurate representation of the complete number and types of crimes that happen near the insured property.

Our methodology links the most sophisticated and current crime related data—collected from a variety of local U.S. law enforcement agencies—to the geographic jurisdiction where the agency has law enforcement responsibility. The number of property-related crimes is then statistically estimated using 80 proprietary computer models.

Benefits

Our Crime Risk layer provides Insurers with a more accurate risk assessment of potential crime-related property damage and stolen property claims by identifying:

  • The complete number and types of crimes that occur within any city or town
  • The area statistics for murder, aggravated assault, larceny, robbery, property crime, motor vehicle theft, rape, burglary and total overall crimes
  • The property’s precise proximity to crime-related risk and type of crimes that could occur

Resources

Datasheet

Crime Risk Data Layer – Property Crime Risk Index With Comprehensive Area Crime Statistics and Crime Risk Data

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Statement

SecurityGauge No Redlining Statement

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