PGR · 10-Q · 2026Q2 · Full report

Commercial Auto Demand Trends

PROGRESSIVE CORP/OH/ · 2026-08-03 · Importance 38 · Surprise 24

Core commercial auto products represented about 80% of Commercial Lines trailing 12-month net premiums written as of the end of the second quarter 2026. New and renewal application growth was positive in all business-market-type groupings (BMTs) except for-hire transportation in the second quarter, supported by targeted state/BMT rate decreases, increased advertising, and higher agent incentive spending. Year to date, new applications increased in all BMTs except for-hire transportation and contractors, and policies in force grew in every BMT except for-hire transportation and for-hire specialty. Quote volume rose 1% in both the quarter and first six months, while conversion was flat quarterly but declined 4% year to date amid prior rate increases and increased customer shopping.

Key facts

• During the second quarter and first six months of 2026, commercial auto quote volume increased 1% in both periods. source
• Commercial auto rate of conversion was flat for the quarter and decreased 4% for the first six months of 2026, compared to the same periods in the prior year. source
• For the second quarter, core commercial auto new and renewal application growth was positive in all BMTs, except for-hire transportation. source
• For the first six months of 2026, all BMTs experienced an increase in new application growth, except for hire-transportation and contractors, compared to the same period in the prior year. source
• Policies in force grew in all of our BMTs, except in for-hire transportation and for-hire specialty, compared to the same period in the prior year. source