Rate Increases for National General Assurance, Liberty Mutual, and Celina Mutual Auto Insurance Companies in Tennessee for 2017-2018

Four companies have recently applied for rate changes in Tennessee. These companies include National General Assurance Company, Celina Mutual Insurance Company, Liberty Mutual Insurance, and Liberty Mutual General Insurance.

Both Liberty Mutual companies are owned by the Liberty Mutual Group, which is one of the largest insurance companies in the state.

National General Assurance Company

National General Insurance was approved for rate changes averaging 6.2% for their policyholders in Tennessee. These changes will affect new policyholders on or after October 26, 2017. Renewed policies will be affected beginning December 1, 2017.

The average National General policyholder will see an increase of $92 to their premiums. However, not all policyholders will be faced with an increase; while premiums for some policyholders will rise by up to 15%, others will see a decrease of around 3%. These changes will impact 3,813 policyholders across the state.

In its filing, the company detailed the average changes to various coverages. The table below shows the rate increases and what coverages will be affected.

Coverage

% Impact
Property Damage17.0%
Medical Payments3.0%
Liability6.1%
Collision10.0%
Rental Reimbursement5.0%
Towing15.0%
Personal Effects25.0%
Physical Damage6.2%

Liberty Mutual Insurance Company

Both Liberty Mutual Insurance and its sister company, Liberty Mutual General Insurance Company, have filed for rate changes. The filing is still pending for both companies.

If the filing is approved, there will be an average increase of 6.4% for Liberty Mutual Insurance policyholders, and an average increase of 6.5% for Liberty Mutual General. Some policyholders will not see any increases in their premiums, but, for some, there may be increases of up to 14%.

In money terms, 44,814 policyholders with Liberty Mutual General will have increases of around $122. Liberty Mutual Insurance policyholders have a slightly lower increase of $114 for 2,536 policyholders in Tennessee.

Customers who renew their policy with either company can expect their premiums to change on or around December 21, 2017, if the filing is approved by the state. The rate changes will affect new policyholders on or after October 17, 2017.

Celina Mutual Insurance Company

Celina Mutual Insurance Company has filed for rate changes that would affect around 2,972 policyholders in the state. If approved, the average increase in premium would be around 5.1%. However, the increases will be spread unevenly. While policyholders may face a decrease of 33.4%, some may instead face an increase of 12.5%. The average car insurance premium will increase by $66.

If approved, the changes will take place for new policies issued on or after October 16, 2017. Should current policyholders choose to renew, they'll be affected on or after November 16, 2017.

Almost all types of auto insurance coverages are expected to be impacted, and the effects will be varied depending on where policyholders in scope live. As an example, the biggest average increases by county are listed below for Bodily Injury Liability premiums.

  • 9.3% increase for Washington county residents.
  • 8.1% increase for Houston county residents.
  • 4.4% increase for Sequatchie county residents.

However, not all counties will be faced with increases. Some policyholders will actually see average decreases to their Bodily Injury portions, as shown below.

  • 7.1% decrease for Jefferson county.
  • 5.8% decrease for Bedford county.
  • 5.5% decrease for Monroe county.

Top Tennessee auto insurance carriers

Of the three companies listed here, only Liberty Mutual Group is ranked among the top companies. As of 2016, it's ranked seventh with almost $200 million direct written premiums within Tennessee. The market is fairly concentrated, State Farm Group has the largest amount of direct written premiums within the state with almost $900 million direct written premiums.

Katherine Ross

Katherine is a former Editorial Associate at ValuePenguin.

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