Progressive Home announced its decision to discontinue offering the Dwelling Fire (DP-3) line of business, which covers non-primary residences and rental properties. This strategic move is part of ongoing efforts to ensure the long-term stability of its property business for both customers and independent agents.
The DP-3 policies represented 3.6% of all Progressive property policies as of September 30, 2024. Progressive Home will cease selling new DP-3 policies and begin issuing nonrenewal notices to affected policyholders in certain states starting as early as November 19, 2024.
This action is one of several initiatives, including focusing on owner-occupied homes and bundled business, increasing minimum Wind/Hail deductibles, and mandating the Roofing Materials Payment Schedule endorsement. These changes aim to create additional capacity for owner-occupied home policies and build a stronger, more competitive property business.
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