Lemonade is seeking a homeowners rate increase in Oregon, proposing a 10% hike for HO-3 policies and 5% for HO-6 policies. The filing reflects an overall 9.5% rate impact across 2,286 policyholders and about $3.18 million in written premium.

Submitted on March 19, 2026, the filing follows a 48.3% rate increase that took effect on June 3, 2025. While Lemonade indicates a need for a 22.1% increase, it is opting for a more moderate adjustment.

The company also revised its effective dates post-submission, now targeting July 28, 2026 for new business and September 26, 2026 for renewals.

This is a loss-driven corrective move. Despite an indicated change of 22.1%, Lemonade is taking only 9.5%, continuing a pattern of under-correcting relative to actuarial need. Oregon remains a pressure point following last year’s significant increase.

The split between forms highlights where the issues sit. HO-3 policies are getting a 10% increase against a 23.8% indication, pointing to a meaningful gap. HO-6 policies, by contrast, are closer to adequacy, with a 5% increase against a 5.9% indication. The condo book appears relatively stable, while the homeowners segment continues to underperform.

At the same time, Lemonade is layering in retention levers. A loyalty credit of up to 3% for policyholders with three or more years of tenure, along with a 10% new home purchase credit for renters converting to homeowners, suggests a focus on preserving better-performing risks while gradually correcting rate levels.

Errra: Across roughly a year—policies fell from 3,123 to 2,286, while premium rose from ~$2.98M to ~$3.18M.