Upcoming adjustment to personal property renewal capping
March 17, 2025
Personal Lines
Helping your customers achieve rate stability, Gore is introducing rate capping on personal property renewals effective May 7, 2025.
As we continue to sophisticate our pricing, we remain committed to providing you and your customers with more value and competitive sustainable rates. As such, we are introducing an upcoming adjustment to personal property renewal capping, effective for renewals starting May 7, 2025.
What’s changing?
We are adjusting the upper bound capping thresholds for all personal property product lines except for Strata and Travel Trailer.
This adjustment will benefit your customers by supporting rate stability on renewal. This change applies to main coverage only, existing cap levels will remain on applicable optional coverages.
If you have any questions, please don’t hesitate to reach out your business development representative.
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