Liberty Mutual is updating its homeowners program in Virginia with a revised rating manual, introducing changes to base rates, fixed expenses, and key risk factors such as age of home and roof.

The filing, submitted March 31, 2026, reflects a rate filing in structure but carries no direct policyholder impact, as the program has not yet launched. The company is targeting a May 18, 2026 effective date for new business, aligned with pending form approvals.

At the core of the update is a recalibration of rating variables rather than a broad pricing shift. The revised manual updates base rate components across perils, adjusts fixed expense loads, and refines relativities tied to property characteristics, including age of home and roof.

One notable change is how Liberty Mutual aligns certain rating factors with external benchmarks. For hurricane, capital, and reinsurance components, age-based factors are partially adjusted toward existing summer wind curves—moving 30% of the way for home age and 15% for roof age—suggesting a deliberate effort to better match competitor pricing dynamics.

The broader framework remains highly factor-driven, combining base rates with peril-specific adjustments, expense loads, and structural attributes of the property to determine premiums.

Bottom Line: This is a pre-launch pricing calibration, not a rate increase—positioning the program to be more competitive out of the gate without affecting existing policyholders.