Liberty Mutual, Farmers raise homeowners insurance rates in April

• This analysis by S&P Global Market Intelligence is limited to publicly available rate filings submitted to state insurance regulators.
• Rate filing information is sourced from the System for Electronic Rate and Form Filing documents.
• States employ a variety of rate regulation mechanisms such as prior approval, modified prior approval, file and use, and use and file. The form filing laws govern the type of policy form regulation used by the state and may not require explicit approval by the state regulator prior to using the new rate.
• This analysis is based on when the rate filing is "disposed" by the state regulator and does not take into account when new rates became effective for new and renewal business. In some instances, the new rate was in effect prior to the particular month the filing has been "disposed" by the regulator.

Liberty Mutual Holding Co. Inc. may see the largest cumulative increase in premiums from homeowners insurance rate hikes approved in April, according to an S&P Global Market Intelligence analysis.

Liberty Mutual subsidiaries received approvals for 41 rate hikes during the month, which could increase the group's total premiums by $53.5 million.

Farmers Insurance Group of Cos. looks to have the second-largest increase in aggregate premiums. Farmers companies secured approvals for 19 rate hikes, which stand to boost the group's aggregate premiums by $46.6 million. Nearly 43% of that increase, about $20.3 million, is expected to come from a single 20.2% rate hike in Arizona.

Chubb's big Texas hike

Chubb Ltd. topped the list of the most notable homeowners rate increases in April after subsidiary Chubb Lloyds Insurance Co. of Texas secured approval for a 10% rate increase in Texas. That one hike alone is estimated to increase the group's cumulative premiums by $22.4 million. It is expected to go into effect on June 24 for both new and renewal businesses.

Allstate tops rate decrease chart

On the other side of the spectrum, The Allstate Corp. could see the largest decrease in total premiums from rate changes in April to a single 7.4% rate reduction approved in Hawaii. The rate cut is expected to lower the group's total premiums by nearly $440,000.