Most U.S. commercial insurance lines saw their premium renewal rates rise in the fourth quarter of 2025, according to the latest data from the Ivans Index. While increases persisted, some lines showed signs of slowing compared to earlier in the year.
Looking at the year-over-year figures, nearly all major commercial insurance types experienced higher renewal rates, except for workers’ compensation. When compared to the third quarter of 2025, rates went up for general liability, commercial property, and umbrella policies. On the other hand, commercial auto, business owner’s policy, and workers’ compensation saw average renewal rates dip.
Commercial property and umbrella policies led the pack with the highest renewal rates during the last quarter. Commercial property averaged an 8.01% increase, edging up from 7.64% in the third quarter. Rates started at 7.61% in October and climbed to 8.34% by December. Umbrella policies also rose, averaging 9.49%, up from 8.99% in the previous quarter, reaching a peak of 10.07% in December.
General liability insurance followed a similar upward trend. Its renewal rates averaged 7.23% in the fourth quarter, a notable rise from 5.89% in the prior quarter. These rates steadily increased each month, starting at 7.04% in October and ending at 7.52% in December.
Some lines, however, experienced easing renewal rates. Commercial auto insurance averaged 6.97% in the fourth quarter, down from 7.60% in the third. Rates fell steadily, from 7.57% in October to 6.46% in December. Business owner’s policies saw only a slight decrease, averaging 7.52% compared to 7.55% in the previous quarter, with minimal month-to-month changes.
Workers’ compensation was the only major line with a decline in renewal rates. Its average dropped to -1.61% in the fourth quarter from -1.42% in the third. November showed the smallest dip at -1.52%, but by December, the decline had grown to -1.77%.
Kathy Hrach, senior vice president of product management at Ivans, pointed out that the commercial insurance market remains generally firm. However, the renewal trends suggest it is slowly moving away from the peak pricing levels seen in past years. She added that as insurers look to balance growth with the challenges of losses, the Ivans Index will play an important role in tracking how the market performs in 2026.
The Ivans Index, which comes out monthly, tracks the year-over-year changes in premium renewal rates across the U.S. commercial insurance market. It draws on more than 120 million data points from over 38,000 agencies and 600 insurers and managing general agents nationwide.