Nationwide Seeks 11.7% Homeowner Insurance Increase in Mississippi

Nationwide Insurance has proposed a 11.7 percent increase in homeowner insurance premiums statewide.

The rate request will take effect April 15 unless Insurance Commissioner Mike Chaney denies it or has questions.

Nationwide, based in Columbus, Ohio, has received three increases since 2006.

The company’s most recent request was initially filed in 2009. But Chaney told the company to make changes that would benefit policyholders by placing them in better-rated fire districts if they live outside those districts but service to their homes is available.

Chaney said his office will review the updated rate filing.

Nationwide spokeswoman Nancy Smeltzer said rates are based on five years of loss, premium and expense data

Topics Homeowners Mississippi