First Acceptance Insurance Company submitted a private passenger auto rate filing in Virginia on March 5, 2026, requesting revisions to its nonstandard scored program. The filing proposes a new business effective date of March 17, 2026 and a renewal effective date of April 8, 2026.

The filing affects 1,454 policyholders and $4,006,811 in written premium, with an estimated premium increase of $198,566 if approved. First Acceptance is requesting a 5% overall rate increase despite actuarial indications pointing to a much higher 30.2% change. The filing follows the insurer’s previous rate revision that became effective January 1, 2025.

The company is revising several rating components within its insurance scoring program, including base rates, channel factors, vehicle count factors, model year factors, and coverage type factors. The update also adds model year factors for 2027 and 2028 vehicles to the rating tables while maintaining the existing formula for calculating future model years.

Distribution insights in the filing show multiple sales channels, including independent agents, internet distribution, affiliates, call centers, and alternative financing partners. One notable adjustment involves channel factor recalibration, including a factor of 2.2 for certain alternative financing partner policies, suggesting pricing differentiation tied to financing arrangements.

Strategically, the filing reflects an effort to rebalance pricing while limiting the customer impact relative to the actuarially indicated increase. The large gap between the indicated 30.2% change and the proposed 5% rate impact could signal competitive pressures in the nonstandard auto segment or regulatory sensitivity to large premium increases.