The Corey Story

My random wanderings and things I find entertaining

Nationwide is taking a 8.1% homeowners insurance rate increase August 1, 2009

Posted by Corey Kaster on June 1, 2009

Nationwide Mutual Fire Insurance Company has filed a rate revision for

   their Homeowners program in Oregon.   The changes include a revision to

   the statewide base rate for the homeowners form only and will be

   effective August 10, 2009 for new and renewal business.  The overall

   impact of this filing is a 8.1% increase or about $444,549 in annual

   premium.

Their last general change was a 10.7% increase effective July 26, 2008.

Nationwide Group is ranked number 10 in Oregon, with a 2.7% market share.

Nationwide Mutual Fire Insurance Company has 0.9% of the share.

   Nationwide Group has filed a rate increase for their  Recreational

   Vehicle program in Oregon. The effective dates are April 11, 2009 for

   new and May 11, 2009 for renewal business.

The changes by company are summarized below:

Nationwide Insurance Company of America:  19.5%

Depositors Insurance Company:             19.9%

AMCO Insurance Company:                   15.1%

Notable changes are:

Revised base rates

Revised territory factors

Revised symbol factors

Revised tier factors

Implement rate stability logic

Implement intra-agency discount

Implement theft recovery discount

www.coreykaster.com

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