Understanding Premium Filings
A premium filing is the document an auto insurer submits to a state's insurance department detailing rates, policy forms, and underwriting guidelines for upcoming policy periods. Regulators review these filings to ensure rates are not excessive, inadequate, or unfairly discriminatory before the insurer can sell policies in that state.
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Where to Start: State Insurance Department Websites
Each state maintains an online portal where insurers' filings are publicly accessible. Begin by visiting the official website of the state's department of insurance (often titled "Insurance Division" or "Department of Financial Services"). Look for sections labeled "Rate Filings," "Consumer Access," or "Public Filings."
- Search by insurer name or NAIC code.
- Filter results by line of business – select "Auto" or "Personal Auto."
- Download the most recent filing, typically provided as a PDF or Excel file.
Using the NAIC's Consumer Access Site
The National Association of Insurance Commissioners (NAIC) runs a centralized database called Consumer Access. After creating a free account, you can search for an insurer and view its filed rates across multiple states. The platform aggregates the same documents found on individual state sites, saving time if you need filings from several jurisdictions.
Key Components of a Premium Filing
When you open a filing, expect to see three main sections:
- Rate Tables: Lists base rates and rating factors such as driver age, vehicle type, and credit score.
- Policy Forms: The actual language of the insurance contract, including coverage limits and exclusions.
- Underwriting Guidelines: Rules insurers use to accept or reject risks, often tied to the rating factors.
Comparing Filings Across Insurers
If you need to evaluate several companies, a side‑by‑side comparison helps identify pricing trends. The table below outlines typical attributes you might compare.
| Attribute | What to Look For | Why It Matters |
|---|---|---|
| Base Rate | Initial cost per $1,000 of coverage | Shows the insurer's starting price before discounts. |
| Rating Factors | Age, mileage, credit, claims history | Indicates how personalized the premium can become. |
| Discounts Offered | Multi‑policy, safe driver, low mileage | Potential savings beyond the base rate. |
| Regulatory Comments | Notes from the state reviewer | Reveals any concerns or required rate adjustments. |
Alternative Sources When Filings Are Not Online
Not all states publish filings digitally. In such cases:
- Contact the state insurance department directly via phone or email and request the filing.
- Submit a Freedom of Information Act (FOIA) request if the filing is not readily available.
- Reach out to the insurer's compliance or public affairs office; many companies provide copies upon request.
Staying Updated
Premium filings are typically updated annually or when an insurer seeks rate changes. Subscribe to email alerts on state portal "Rate Filing Updates" pages or set a reminder to check the NAIC Consumer Access site before each renewal cycle.