Safeco introduced changes to its Idaho motorcycle insurance program that would increase rates by 5.4% overall beginning June 21, 2026 for new business and August 2, 2026 for renewals.
The filing impacts around 12,837 policyholders and approximately $4.7 million in written premium. Safeco said the increase is driven by updates to base rates across the motorcycle program.
The filing shows large differences by coverage beneath the overall 5.4% increase:
- Bodily injury: +31.4%
- Property damage: +29.1%
- Uninsured/underinsured motorist: +16.7%
- Medical payments: -6.7%
- Comprehensive: -6.4%
- Collision: -13.3%
Safeco described motorcycle insurance in Idaho as a small program with limited credibility, meaning the company relied heavily on countrywide loss data when setting rates.
The filing shows worsening results for liability coverages. Bodily injury produced a 77.8% loss and ALAE ratio, supporting a 31.4% indicated increase, while property damage showed a 75.4% ratio and a 29.1% indicated increase.
Physical damage coverages performed better. Collision showed a 41.0% credibility-weighted loss and ALAE ratio, supporting a 13.3% decrease, while comprehensive supported a 6.4% decrease.
The filing also points to slowing premium growth in Idaho’s motorcycle market. Earned premium for several coverages declined in 2025, and Safeco selected negative premium trend assumptions for comprehensive and collision coverages.
Safeco’s selected profit provision assumes a 15% return on surplus, resulting in profit margins of 5.9% for liability coverages and 8.5% for physical damage coverages.