Foremost Property and Casualty Insurance Company is seeking approval to introduce a “Welcome” premium modifier for its Tennessee manufactured home program.
The modifier would provide a 10% discount during a policy’s first term, declining by two percentage points annually until expiring after the fifth term.
Foremost is also proposing new $1,000, $2,500 and $5,000 deductible options, reducing the minimum personal property coverage requirement from 50% to 25% of dwelling coverage and removing the requirement that other structures coverage equal at least 10% of dwelling coverage.
The Farmers Insurance Group company reported no overall rate impact across 1,165 policyholders and $1.7 million in written premium. The proposed effective date is September 1, 2026.
The Tennessee Department of Commerce and Insurance has requested supporting data for the new Welcome modifier.