Harrisburg, PA – The Pennsylvania Insurance Department (PID) today announced that it blocked $210.1 million in requested annual property and casualty (P&C) insurance premium increases in the first six months of 2025 through its vigorous rate review process, saving Pennsylvania consumers hundreds of millions of dollars.
P&C insurance – which includes personal auto, homeowners, renters and flood insurance – protects individuals and businesses from financial losses related to their property, such as damage to physical assets, accidents, or negligence claims. Insurance companies must file their proposed rate changes with PID before the rate changes take effect. PID’s actuarial staff reviews the proposed rates to ensure they are justified.
“We’re halfway through 2025 and our actuarial staff has already surpassed what they saved consumers throughout the entirety of 2024,” said Pennsylvania Insurance Commissioner Michael Humphreys. “At PID, our review process is tough but fair. We carefully review and evaluate rate increases submitted to our Department because we know consumers work hard for their money and that big increases can create big problems for Pennsylvania families. At the same time, we recognize that insurers’ costs are increasing as the cost of the products and services that they insure continue to rise and that certain rate requests are justified as a result. PID will never approve rates that are excessive, inadequate or unfairly discriminatory to Pennsylvanians.”
Six months into 2025, PID’s rate review process saved consumers:
- $103.6 million in title insurance premiums;
- $85.3 million in personal auto premiums;
- $13.7 million in homeowners premiums;
- $5.0 million in personal umbrella premiums; and
- $2.5 million in other types of P&C insurance premiums.
PID reminds Pennsylvanians to periodically check in with their insurance company or agent to review their coverage. Pennsylvania's property and casualty insurance market is competitive and includes more than 1,200 insurers. PID also encourages consumers to explore their options to lower the cost of their premiums, which includes raising their deductible to lower monthly costs or updating their coverage to reflect their current driving habits.
Pennsylvanians should keep in mind that insurers can use up to 60 days to underwrite most new non-business insurance policies. Consumers are not protected from cancellation during these initial 60 days for many types of insurance. PID recommends weighing the pros (like lower costs or better benefits) and cons (like losing some protections) before switching or staying with their current plan.
Consumers who have a question about their insurance or need to file a complaint may visit pa.gov/consumer or call 1-866-PA-COMPLAINT.