BULLETIN
April 29, 2024
Western National Insurance Home Revisions
Western National completed a review of homeowner product performance earlier this year. You may recall a number of coverage changes were implemented earlier this month as a result of that review. Information about the conversion process and coverage changes is available here. We have now received approval on our rate filing. Effective May 31, 2024, the overall rate level for Signature Home and Select Home will increase 24.7%. The impact of the rate adjustment may vary significantly by policy based on the specific characteristics of the insured exposure. Please note that the inflation adjustment to Coverage A – Dwelling (where applicable) is currently at 7% and will also increase premium.
We continue to monitor market conditions to determine the best time to resume writing new homeowner business. We appreciate your ongoing partnership in helping our mutual policyholders to understand current market conditions and the impact to their policies. The following articles may provide helpful information.
- "Why do so many Minnesota homeowners get free roofs after a hailstorm?"
- "How to parry rising insurance costs."
- News / Minnesota.gov (mn.gov)
Please contact your Regional Agency Manager or Underwriter with any questions.