Progressive Home to discontinue Dwelling Fire line of business

Progressive Home announced its decision to discontinue offering the Dwelling Fire (landlord insurance) line (DP-3) of business. The move is a continuation of various actions Progressive Home has already taken in several states as part of the company’s ongoing, strategic efforts to ensure the long-term stability of its property business.

Progressive Home remains committed to the Homeowners insurance market and will continue to offer Homeowners, Renters, Condo, Flood and Umbrella policies. The decision to discontinue DP-3 business is expected to create additional capacity for owner-occupied home policies in many states.

Progressive Home will stop selling new business DP-3 policies and begin sending nonrenewal notices to affected policyholders in certain states as early as November 19, 2024, in accordance with state regulatory requirements.

DP-3 policies represented 3.6% of all Progressive property policies as of September 30, 2024.

Progressive Home’s decision to discontinue offering DP-3 is part of a series of initiatives it has already begun in some states and plans to implement across all states. These actions include a focus on insuring owner-occupied homes and bundled business, increasing the minimum required Wind/Hail deductibles, mandating the Roofing Materials Payment Schedule endorsement, and ensuring agent alignment on underwriting quality expectations.