Thanks to your efforts in placing quality business with Frankenmuth Insurance, along with improved rate adequacy, Frankenmuth Insurance has experienced profitable results in Homeowners this year. In fact, the year-to-date Michigan Home loss ratio is 58.5%.
The even better news is that these profitable results allow us to make changes to the 2018 Home rates to assist you in writing more quality business and retaining your current book with us.
Effective Feb. 1, 2018, we are making the following changes to the homeowner product:
Overall Rate Change: -1.4%
- HO-3 (Home Protector / Special Form): -1.3%
- HO-4 (Tenant): -2.1%
- HO-6 (Condo): -1.3%
- HO-9 (Ultra Home Guardian): -2.8%
In addition to the form revisions, we have made some minor territory and group discount changes, which are all based on past loss experience. Some of the group discounts have improved, while others are lower, so feel free to contact your PL field manager or underwriter for any specific questions in these areas.
We’re confident these changes will provide us both with the foundation for improved growth in 2018.
Thank you for your continued support of Frankenmuth Insurance.
