BULLETIN
June 20, 2018
Western National Minnesota Homeowner Program Revision – Eff. 8-1-2018
We recently completed a regular review of Western National’s Homeowner insurance program in Minnesota. Recent trends indicate that a rate adjustment is needed. As a result, we are implementing the following rate revision and program updates, effective August 1, 2018.
Rate Revision
Rates in Minnesota will increase +4.1% overall. However, individual policy premium will increase or decrease based on the specific characteristics of the insured exposure.
Seasonal and Secondary Residence Rate Revision
As part of the overall rate revision, rates for seasonal and secondary residences will increase. Policyholders can offset this change if they have taken steps to protect their property while they are away. Two new Protective Device credits will be available for seasonal and secondary homes. A 5% premium credit will be given for each approved, installed, and properly maintained temperature monitoring and water monitoring device.
Deductible Changes
For new business effective August 1, 2018, the following minimum deductibles will apply:
- $1,500 Windstorm or Hail deductible minimum
- $1,000 All Perils deductible minimum for new business with Coverage A $250,000 and higher
The rate for Windstorm or Hail deductibles below $1,500 is increasing as part of this revision. Renewing customers can offset the premium change by increasing their Windstorm or Hail deductible to $1,500.
Western National is committed to providing the highest-quality personal lines products and services. Additional information about our products and underwriting is available in our personal lines reference guide, The Advisor. You can access The Advisor by clicking here or navigating to the “Guides/FAQs” page in AgentsOnline.
Your Personal Lines Underwriting Team and Regional Agency Manager are ready to assist you in any way they can. Feel free to give them a call today!
