Deductible & ACV Changes Effective 3/1/2023

For new and renewal policies effective March 1, 2023 and after, the following changes are being implemented:
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• Agri-Pak Policies: The minimum deductible is being changed to $1,000 with a $1,500 Windstorm/Hail deductible*. Also, at renewal, the coverage limit for dwellings with an ACV loss settlement will be increased by 6% and the coverage limit of outbuildings will be increased by 4%.**
• Homeowners Policies: The minimum deductible is being changed to $1,000 with a $1,500 Windstorm/Hail deductible*. Also, at renewal, the coverage limit for dwellings with an ACV loss settlement will be increased by 6%.**
• Dwelling Property Policies: The minimum deductible is being changed to $1,000 with a $1,500 Windstorm/Hail deductible*. Also, at renewal, the coverage limit of dwellings with an ACV loss settlement will be increased by 6%.** Last, there will be a 5% rate increase at renewal.
• Businessowners Policies: At renewal, the coverage limit of buildings will be increased by 6%.**.
• Inland Marine Policies: No changes.

*Regarding the deductible changes, a notice to the Insured will be included in their next renewal packet. Also, for Agri-Pak and Homeowners policies, the deductible premium credit factors are being adjusted slightly. Please consult the manuals for further information.

​**Regarding ACV changes, due to higher-than-normal inflation, we feel that the value of a dwelling or outbuilding with an ACV loss settlement is increasing. Therefore, we feel it is appropriate to increase the coverage limit of these items to provide adequate protection for the insured.