Allstate Vehicle and Property Insurance Company (AVPIC) is seeking approval to raise rates by 11.9% for its Homeowners – Owner Occupied program in Michigan, impacting 133,524 policyholders and $202.7M in written premium. The proposed changes would generate an additional $24.1M in premium.
Key revisions include updated Rate Adjustment Factors, a new Rate Level Factor for Fixed Expense Premium, and a 12.8% increase in Water Backup Endorsement premiums. Renewal impacts—mitigated through Allstate’s rate capping mechanism—range from 6.4% to 18.1%, though unmitigated impacts could reach as high as 24.4%. The full rate impact is expected to phase in over 26 renewal periods.
The filing, submitted June 20, 2025, requests an effective date of August 11, 2025, for new business and September 25, 2025, for renewals. Aon serves as the reinsurance intermediary for Allstate’s catastrophe program.
