PGR · 10-Q · 2026Q3 · Full report

Commercial Auto Pricing Mix

PROGRESSIVE CORP/OH/ · 2026-11-02 · Importance 25 · Surprise 32

Rates in core commercial auto products remained relatively stable during the third quarter, bringing the year-to-date aggregate rate increase to 2%. The effect of rate increases over the preceding 12 months on written premium per policy was offset by a greater mix of six-month policies in contractor and business auto, which generate about half the net premiums of 12-month policies. Written premium per policy declined across new and renewal business, with the quarter and year-to-date total changes reported as decreases. Progressive said it would continue evaluating rate needs and adjust rates as necessary.

Key facts

• The decrease in core commercial auto average written premium per policy primarily reflected a business-mix shift, including a higher percentage of six-month policies, which generate about half the net premiums written of 12-month policies. source
• Progressive’s core commercial auto rates were relatively stable in third quarter 2026, with a 2% year-to-date aggregate rate increase. source
• Progressive increased core commercial auto rates 1% on a countrywide basis in third quarter 2026. source
• Progressive will continue to evaluate its core commercial auto rate need and adjust rates as it deems necessary. source