Commercial Insurance Renewal Rates Show Mixed Trends in Q1 2025
Premium renewal rates for major commercial insurance lines generally increased year-over-year in the first quarter of 2025, except for workers’ compensation, according to the latest Ivans Index results. Compared to the fourth quarter of 2024, most lines experienced a decrease in average premium renewal rates, with umbrella insurance being the exception.
Key Findings by Insurance Line
- Commercial Auto: Renewal rates rose 8.4%, down from 8.8% in the previous month.
- Business Owners Policy (BOP): Renewal rates increased by 8%, a slight decrease from 8.2% at the end of March.
- General Liability: Renewal rates rose 4.3%, up from 3.7% in March.
- Commercial Property: Renewal rates increased by 7.7%, a slight uptick from 7.6% in March.
- Umbrella Insurance: Renewal rates reached 9.4%, up from 9.3% in March 2025.
- Workers’ Compensation: Renewal rates decreased by -1.8%, a further decline from -1.5% the previous month.
The Ivans Index, released monthly, provides a comprehensive data-driven report on current conditions and trends in premium rate renewals for the most common commercial insurance lines. By analyzing over 120 million data transactions, the index measures the year-over-year premium difference for consistent policies across more than 38,000 agencies and 700 carriers and MGAs, offering a broad view of the U.S. insurance market trends.
About the Ivans Index
The Ivans Index is a significant benchmark in the insurance industry, providing insights into premium rate changes. It encompasses data from a vast network of agencies and carriers, making it a reliable source for understanding market dynamics.
Source: Ivans Index
