GEICO submitted a personal auto rate and rule filing in Virginia that introduces a moderate rate increase alongside a temporary cap on renewal premium changes.

The filing, submitted by GEICO General Insurance Company and GEICO Secure Insurance Company, reflects an overall indicated change of 3.8%, translating into an average rate impact of about 3.8% to 4% across the two entities. The changes affect more than 200,000 policyholders and over $460 million in written premium in the state.

A key feature of the update is the introduction of a rate capping mechanism that limits renewal premium increases to 10% at the policy level. The cap applies to renewals effective between May 30, 2026 and May 30, 2028, and is calculated using a policy-level factor that adjusts the final premium when indicated increases exceed the threshold.

The cap incorporates changes in risk characteristics such as driving record, telematics participation, and rating tier progression, while excluding newly added vehicles or coverages. It is recalculated at each renewal and preserves prior capped adjustments where applicable.

Beyond pricing, the filing includes updates to rating structures, territory definitions, and supporting actuarial assumptions, including weather-related loadings and loss development factors.

The changes are scheduled to take effect April 15, 2026 for new business and May 30, 2026 for renewals.