CSAA is introducing a rate update to its homeowners multiperil product in Nevada, with changes set to take effect November 3, 2026 for both new and renewal business.

The filing reflects a 5.592% overall rate increase on an uncapped basis, slightly reduced to 5.545% after applying renewal caps designed to limit premium volatility.

The update impacts approximately 50,470 policyholders and about $78.4 million in written premium, translating to a projected premium increase of roughly $4.4 million.

Despite the modest selected increase, the underlying indicated rate change is significantly higher at 22.3%, highlighting a continued gap between actuarial need and implemented pricing.

A key feature of the filing is the carrier’s rate stabilization mechanism, which limits how much premiums can move at renewal. For homeowners policies, increases are generally capped at around 15% to 16%, while decreases are limited to roughly 3% to 4%, depending on the deviation between current and indicated premiums.

The stabilization approach is applied at the policy level and is designed to smooth transitions to new rates over time rather than introducing sharp premium changes in a single renewal cycle.

The filing also includes updates to base rates and territory factors across multiple coverage forms, including HO3, HO4, and HO6, reflecting ongoing adjustments to risk segmentation and pricing structure.

Overall, the move points to continued pressure in homeowners insurance, with carriers relying on capped increases and gradual adjustments to move toward rate adequacy while managing customer impact.