Liberty Mutual Holding Co. Inc., Farmers Insurance Group of Cos. and The Allstate Corp. received the highest number of approvals for homeowners insurance rate increases during the first half of 2022.

The three carriers had a combined 382 rate increases approved by state regulators in the period. Liberty Mutual led the field with 154, while Farmers Insurance received 127, and Allstate was approved for 101 increases.

Those three carriers also receive approvals for rate hikes in at least 30 states. Liberty Mutual saw increases in 34 states, Farmers Insurance in 32 and Allstate in 30, as insurers across the U.S. responded to historic inflation and skyrocketing costs for homebuilding and repairs.

United Services Automobile Association received 56 rate approvals across 13 states, while State Farm Mutual Automobile Insurance Co. was granted 12 hikes across 10 states.

Lone Star surge

Three of the four largest premium changes were in Texas. Rate hikes in the first half year stand to boost Allstate's homeowners premiums by $74.4 million in the Lone Star State, while Liberty Mutual's premiums may rise $61.9 million. USAA stands to see premiums increase $47.1 million from first-half rate hikes in Texas.

Farmers out West

The biggest premium gains for Farmers were in Arizona, where it was approved for an overall rate hike of 25.91%, which translates to a written premium increase of $54.4 million.

Farmers Insurance had the most double-digit rate hikes among the largest homeowners insurers, receiving increases of at least 10% in 18 states. Ten of those states, which include Pennsylvania and Illinois, granted increases of more than 15%.

Liberty Mutual takes rate on East Coast

Aside from Texas, Liberty Mutual's largest rate-hike approvals were granted on the East Coast. The Boston-based carrier stands to see premiums rise $26.0 million from rate increases in New York and bring in an additional $21.2 million in homeowners premiums from hikes in Virginia.