Liberty Mutual Holding Co. Inc. could see the largest rise in homeowners' premiums from rate increases approved in September.

Liberty Mutual subsidiaries received a total of 30 homeowners' rate-hike approvals from regulators in 13 states during the month, which could boost its written premiums by an aggregate $58.2 million. More than half of the projected total is expected to result from three rate increases approved by state regulators in Texas.

The Progressive Corp. is expected to see the second-largest aggregate positive premium impact at $26.3 million. A majority of the expected rise in premiums stands to come from what looks to be the most impactful single rate increase approved in September. The 15.5% rate hike obtained by a Progressive subsidiary will impact roughly 97,000 policyholders in Texas.

On the flip side, State Farm Mutual Automobile Insurance Co. units secured four approvals to lower rates in three states, which would reduce the group's premiums written by $6 million. Two of the four rate reductions were among the top 10 most-notable rate decreases during the month as they account for 98.4% of the group's calculated premium decrease.

(C) 2021 Electronic News Publishing, source ENP Newswire