NGM Insurance Company, part of Main Street America, has filed for a commercial auto rate increase in Rhode Island, proposing an overall change of +11.9%, effective September 15, 2025, for both new and renewal business.
The filing is based on five years of adjusted loss experience through June 30, 2024, incorporating trends, large losses, and the impact of the pandemic. Although the indicated statewide rate need is +20.1%, the company selected a lower increase to limit premium disruption.
Key changes include revised base rates and territory factors to stay competitive, updated primary and secondary vehicle classifications, and the introduction of stated amount rating for vehicles based on MSRP or cost new. The filing also adds a Vehicle Monitor telematics discount and adjusts rating factors based on the LexisNexis Attract driver score.
Approximately 32.8% of policyholders are expected to see increases over 15%, with the highest individual rate increase reaching +59.9%. The new rates are expected to remain in place for 12 to 24 months.
