Spinnaker Insurance Company has withdrawn a proposed 14.9% rate increase for its Hippo-distributed homeowners program in New Jersey.

The filing covered 3,437 policyholders and $5.8 million in written premium. It would have generated approximately $859,000 in additional premium, or about $250 per policy on average. Individual changes ranged from a 31.5% decrease to an 83.5% increase.

Spinnaker’s actuarial indication called for a 30.8% increase. The filing also introduced a roof payment schedule for windstorm and hail losses.

Hippo requested the withdrawal one day after submitting the filing, telling regulators that it plans to refile shortly. The withdrawn proposal had targeted March 19, 2027, for new business and May 8, 2027, for renewals.