American Modern filed for rate and rule changes to its Boat Program in Idaho, requesting a 12.2% overall rate increase. The change affects about 130 policyholders and roughly $52,552 in written premium, while the actuarially indicated need is higher at 28.3%, driven by inflation, higher repair and parts costs, supply chain pressures, and shifts in loss experience.

The filing updates multiple rating factors and program elements, including base rates, deductibles, driver age, storage type, underwriting tiers, and the addition of new features such as a named driver rule and an ultra preferred customer discount. Several yacht related rules and symbols are being removed as the program is streamlined.

Separately, the company notified regulators that its Yacht Program will be withdrawn from Inland Marine and written under Ocean Marine, a line that is exempt from Idaho filing requirements.

If approved, the changes would take effect September 15, 2026 for new business and October 9, 2026 for renewals.