PGR · 10-Q · 2026Q2 · Full report

Premium Pricing Pressure

PROGRESSIVE CORP/OH/ · 2026-08-03 · Importance 25 · Surprise 32

Progressive reduced personal auto rates by less than 1% nationally during the second quarter and increased personal property rates by about 1%. Average written premium per policy declined 2% in both personal auto and personal property and 3% in core commercial auto. Personal property premium-per-policy pressure reflected a shift toward lower-premium renters policies, partly offset by 9% aggregate rate increases over the prior 12 months and higher-value coverages. Core commercial auto premium-per-policy declines reflected business mix changes, including more six-month policies, while countrywide rates were relatively flat.

Key facts

• Our personal auto rates were relatively stable during the quarter and on a year-to-date basis, resulting in a minimal written premium per policy change for the second quarter and first six months of 2026, compared to the same periods last year. source