MICO Insurance Company, part of Motorists Insurance Group and Encova, has filed a private passenger automobile update in Tennessee introducing a new-business-only discount while keeping the overall rate impact neutral. The filing was submitted on January 12, 2026, with both new and renewal business effective February 19, 2026.

The update affects 1,043 policies representing $2.73 million in written premium. Rather than changing base rates, MICO is adding an “Advance Quote Discount” aimed at improving competitiveness at the point of entry without disrupting the existing book.

Under the proposal, new business quoted at least seven days in advance receives a 15% discount, which then steps down by 3% per year. The structure allows MICO to offer a sharper initial price while gradually normalizing premiums over time.

The filing also reflects continued use of Advanced Driver Assistance Systems (ADAS) as rating elements and applies across Private Passenger Auto, Miscellaneous Vehicles, and Named Non-Owned segments.

The move follows a 10% rate decrease that took effect in December 2025.