Effective September 1, 2021, for both new business and renewals for these two lines of business, there will be a +3% change for most property and liability rates.
The updated manuals that contain the changes can be found here for Agri-Pak and here for Homeowners.
Note, this is the first rate increase we have taken on the Agri-Pak and Homeowners lines since December 2014 and June 2016, respectively.
Also, beginning with September 1, 2021 renewals for both lines, the inflationary adjustment to Coverage A on dwellings with replacement cost coverage will be changed from 4% to 6% at renewal. This is due to the upward pressure on building material costs as well as the increased cost of labor. This will be monitored and will be changed if/when these costs return to normal.
When we make a broadcast announcement to our agency force via email, letter, or otherwise, a copy of the announcement will be placed on this page so you can refer back to it later.