Great American Spirit Insurance Company has filed revisions to its Equipment Insurance Policy (EIP) program in Vermont, proposing steep rate increases along with form and rule updates for its bicycle-focused inland marine coverage.

The filing reflects a 98.9% indicated need and a proposed 206% overall rate increase, which would add approximately $437 in written premium across 2 policyholders, bringing total program premium to about $216. Individual policy impacts are expected to range from a 33% minimum to a 287.3% maximum increase.

Originally filed in 2021 and launched in 2022, the program covers scheduled bicycles valued up to $50,000, including accessories and optional worldwide protection.

Filing submitted February 12, 2026; new business effective April 17, 2026; renewals effective April 17, 2026.