Progressive Home has announced it will discontinue its dwelling fire (DP-3) proposition for non-primary residences, as part of a broader strategy to enhance the company’s capacity in the owner-occupied homeowners’ insurance market.
The DP-3 policy provided coverage for second homes, vacation properties, and rental units, but the product line will be phased out in favor of focusing on capacity for primary residences.
The transition is designed to strengthen Progressive’s core property insurance offerings and improve long-term stability, benefiting both policyholders and independent agents. Progressive will continue to offer its main suite of property policies, including homeowners, renters, condo, flood, and umbrella insurance, with the intent of dedicating more resources to these products.
Starting November 19, the insurer will no longer issue new DP-3 policies, and affected policyholders will begin receiving nonrenewal notices in line with state-specific regulatory requirements.
DP-3 policies represented 3.6% of Progressive’s total property policies as of September 30, underscoring the relatively small share of the product in the company’s portfolio. Progressive emphasized that the reallocation will help “create additional capacity for owner-occupied home policies in many states,” allowing the firm to better align resources with market demand.
Progressive’s decision follows a broader realignment strategy, with steps already underway in some states and slated to expand nationwide. Progressive has introduced several measures to strengthen its property insurance business, including increased minimum deductibles for wind/hail and a mandatory roofing materials payment schedule endorsement.
The provider stated: “Progressive Home remains committed to the property market, and these actions will help better position the company to build a stronger and more competitive property business for consumers and independent agents moving forward.”
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