Patriot Insurance Company announces rate adjustments for personal auto, effective September 1, 2022.
Overall rate change (%):
- Maine: 0.0%
- New Hampshire: 0.0%
- Vermont: -1.3%
The following rate adjustments have been made:
- Rating tier: The rating tier factors were adjusted to be phased out in subsequent filings.
- Driver age: We made a revision to our factors to help target family accounts with youthful drivers less than age 24.
- Loyalty: We are revising our loyalty factors to better align with the marketplace.
- Loss history: Our loss history factors for both 3-year and 5-year are increasing. The new 3-year factor is increasing to 5% and 5-year to 10%.
- Insurance score: We are revising our factors to appeal to a broader audience and improve profitability.
Remember to utilize our advance quote discount. This discount is available when quoting eight or more days ahead of the policy planned effective date. The advance quote discount is 14% for auto and 7% for home.
We look forward to working together to strengthen our personal auto results this year. If you have any questions regarding these changes, please contact your field manager or underwriter.
