Selective submitted a filing in Maryland updating its homeowners program, with changes tied to coverage amounts, product type, deductibles, zip code relativities, and CoreLogic risk models. The filing has a proposed effective date of June 30, 2026, for new and renewal business.

According to the filing, the insurer is revising factors related to non-weather water and fire risk, updating severe convective storm analysis for weather and wind pricing, and introducing higher deductible options aligned with Chubb’s homeowners program.

Selective said the filing has a 0.0% overall rate impact, compared to an indicated change of -0.3%. The filing affects 6,293 policyholders and about $14.7 million in written premium in Maryland, with individual policy impacts ranging from decreases of 26.7% to increases of 20.7%.

The filing also introduces renewal premium capping for policies renewing on or after June 30, 2026. Under the rule, renewal premium changes will generally be limited to decreases of 15% or increases of 20% until the cap phases out or policies renew after June 30, 2029.

The filing follows a separate Maryland homeowners update submitted on December 31, 2024, which introduced new GLM based rating factors and underwriting variables with no overall rate change. That earlier filing affected 6,738 policyholders and about $12.1 million in written premium, with individual policy impacts ranging from -53.9% to +104.6%.

For additional context, Selective reported 5,444 Maryland homeowners policyholders and about $7.2 million in premium in December 2022, suggesting the book has roughly doubled in premium over the past few years.

Bottom Line: Selective’s Maryland homeowners book has roughly doubled in premium since December 2022 — from ~$7.2M across 5,444 policyholders to ~$14.7M across 6,293 today — with premium growth far outpacing policyholder growth, pointing to significant average premium inflation rather than new customer acquisition. By comparison, Lemonade sits at a similar ~$13.1M in premium but across nearly 24,000 policyholders, underscoring that the two carriers are playing entirely different games in Maryland homeowners.