Farmers filed for an overall 4.9% homeowners insurance rate increase in Michigan.

The filing covers approximately 37,400 policyholders and $52.8 million in written premium across Farmers Insurance Exchange and Fire Insurance Exchange. The proposed changes would generate an additional $2.6 million in premium.

Farmers selected the 4.9% increase despite an indicated rate need of 21.3%. The proposed impact is 5% for the Farmers Flex Homeowners product and 4.8% for Next Generation Homeowners.

The company is revising base rates and rate-level adjustment factors for Flex Home, along with base rates and migration factors for Next Generation. The migration factors are intended to limit significant changes for certain renewal policyholders and will remain in place through September 2031.

The changes are scheduled to take effect Aug. 18, 2026, for new Flex Home business and Sept. 20, 2026, for renewals. Next Generation changes are scheduled for Sept. 20, 2026, for both new and renewal business.