Auto Insurance Rate Changes for June 2017

We will be reporting and monitoring any significant auto insurance rate changes in an ongoing monthly report. Click to read the rate changes approved by state insurance regulators in June 2017.

In the past six years, auto insurance rates have increased an average of 25% nationally. In June 2017 alone, a number of other changes were filed and approved by each state's insurance commission. For the month of June we've identified the three rate changes that were most significant, and summarized the aggregate changes by company and state. The three most notable rate increases and decreases approved were as follows:

The Hartford: 19.8% Rate Increase in Tennessee

On June 20th, The Hartford Insurance Company of the Midwest--a member of the greater Hartford Insurance Group--was approved for a 19.8% auto insurance increases in Tennessee. The changes will affect 12,848 policy holders and increase the cost of each policy by $248 on average. For existing customers who renew their policies, the company pledges to cap increases so most customers will likely not experience the full 19.8%.

Progressive: -2.76% Rate Decreases in Minnesota

On June 9th, Progressive was approved for a nearly 3% decrease in auto insurance rates in Minnesota. The insurer anticipates the change affecting about 345,000 policy holders. Customers of Progressive Direct insurance company will see a 1.4% decrease while those of Progressive Preferred Insurance Company a 3.4%. On average, customers will see their policies about $20 cheaper. Progressive incidentally makes our list of the most active companies seeking rate changes this month.

MetLife: 9.9% Rate Increases in Tennessee

On June 8th, MetLife was approved for a 9.9% rate increase for its auto insurance lines in the state of Tennessee. The change affects 11,085 policyholders, who will see an average increase of $192 per policy.

Most Rate Changes by Company

The most active companies of the past month have been MetLife, Progressive and Farmers. Six of the seven of Progressive's rate filings asked for a decreases in auto insurance rates in the states where they were filed. Most of the filings from Farmers were through its subsidiary Mid-Century. In the table below we summarize the average increase for all insurers who filed rate changes in the month of June.

CompanyRate ChangesAverage Percent Change
1MetLife84.0%
2Auto Club Group80.5%
3Progressive7-1.5%
4Farmers65.1%
5National General Insurance Company67.4%
6Secura60.6%

Most Rate Changes by State

Arizona auto insurance rates saw the most change as insurers raised rates by an average 9.8%. Illinois and Tennessee were also very active, though the average rate increases in those states were significantly less than Arizona. Indiana and Minnesota, which had six and two rate changes respectively were the only states with an average negative increases. In 16 states there were no filings at all. The rate changes are sure to have a significant impact on the average annual cost of car insurance in the U.S.

StateNumber of FilingsAverage Percent Change
1Arizona179.8%
2Illinois141.8%
3Tennessee136.9%
4Wisconsin110.4%
5Florida110.0%
6Connecticut74.5%
7Kentucky72.5%
8Michigan71.2%
9New Mexico66.2%
10Nebraska61.4%
11Indiana6-0.1%
12Pennsylvania53.5%
13Arkansas52.7%
14New York51.8%
15New Jersey43.3%
16Kansas42.5%
17Montana35.9%
18South Carolina34.0%
19South Dakota32.8%
20Iowa30.9%
21Texas30.6%
22Oregon30.0%
23Minnesota2-1.4%
24Georgia19.9%
25Wyoming19.0%
26Utah16.6%
27Missouri16.5%
28Maine13.9%
29North Dakota13.6%
30New Hampshire12.2%
31Oklahoma11.3%
32Virginia10.0%
33Washington10.0%
34West Virginia10.0%
Mark Fitzpatrick

Mark Fitzpatrick is a Research Analyst at ValuePenguin focused on the insurance industry. He previously worked in Country Risk Management at State Street Corporation.

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