State Farm filed for a 9.5% rate increase for its Nevada homeowners program, impacting approximately 226,125 policyholders and $183.4 million in written premium. The filing, submitted on May 15, 2026, requests effective dates of July 15, 2026, for new business and September 1, 2026, for renewals.
The filing shows an overall indicated rate change of 73.1%, though the proposed overall rate impact is limited to 9.5%. State Farm said the changes are intended to balance actuarial needs with competitive pricing.
For homeowners policies, the filing introduces by-peril rating, which separately prices exposures including wildfire, wind and hail, water damage, theft, liability, and other weather-related risks. State Farm said the change is designed to “better match price to risk for different exposures.”
The insurer is also introducing wildfire modeling using RQE and AIR wildfire models at the GRID cell level, replacing broader territory methodologies with more granular geographic pricing. The filing notes this approach is intended to “better reflect the variation in the wildfire exposure across the state.”
As part of the update, State Farm is adding new wildfire mitigation discounts for homes located in certified Firewise USA communities and for homes designated as IBHS Wildfire Prepared Home properties. Proposed wildfire discounts include:
- 5% for Firewise USA community recognition
- 15% for IBHS Wildfire Prepared Home designation
- 18% for IBHS Wildfire Prepared Home Plus designation
The filing also introduces a new $115 fixed expense constant per policy and removes the minimum premium rule. Additional revisions include updated construction factors, claim record rating adjustments, loyal customer discounts, deductible factors, utilities rating plans, and amount of insurance calculations.
State Farm is introducing a 50% premium surcharge on the wind and hail portion of the premium for homes with 3-tab roofs, citing loss ratio analysis.
County level impacts vary significantly. According to the filing’s support exhibit, Esmeralda County shows the largest indicated increase at 25.9%, followed by Humboldt County at 25.7%, Eureka County at 25.6%, and Lincoln County at 20.9%. Carson City shows a 1.4% change, while Nye County shows a slight decrease of 0.1%.
The filing also includes wide policyholder variation in projected impacts, ranging from decreases of 47.2% to increases of 84.4%, according to the insurer’s rate disruption exhibit
Bottom Line: State Farm is repricing Nevada aggressively at the risk level while keeping the headline number politically palatable. The individual policyholder swings are enormous — the rate disruption shows some policyholders seeing -47% to +84% changes. They’re essentially using this filing to re-underwrite the book through pricing rather than non-renewals.