Progressive Insurance Review
Progressive is one of the largest insurance providers in the U.S., serving over 18 million customers.
The company offers just about every type of insurance that you can imagine, including car insurance, homeowners insurance, life insurance, boat insurance, motorcycle insurance, renters insurance, RV insurance, pet insurance and more.
If you’re in the market for a new insurance policy, keep reading to learn everything you need to know about Progressive.
In this post, I cover two of Progressive’s most popular products: auto and home insurance plans.
IN THIS ARTICLE:
- What is Progressive?
- Progressive Auto Insurance
- Progressive Home Insurance
- Progressive Insurance Quotes & Pricing
- Signing Up and Getting Started
- Promotions, Bonuses & Coupons
- Security Features
- Customer Service and Support
- Pros and Cons of Progressive Insurance
- Alternatives to Progressive
- Is Progressive Insurance Right for You?
What is Progressive?
Progressive was founded in 1937 and is headquartered in Mayfield Village, Ohio. Back then, they were the first auto insurance company to provide in-person claim services.
In 1956, they introduced a safe driver policy, which rewards drivers who don’t get into accidents with lower rates. In 1997, Progressive became the first company to allow customers to sign up for an auto insurance policy online —which is pretty impressive when you stop to think about it.
Fast-forward to today and Progressive has grown substantially, as demonstrated by the following facts:
- Progressive is the third-largest auto insurer in the U.S.
- They’re the top commercial auto and commercial truck insurer in the U.S.
- The company is currently ranked #99 on the Fortune 500
- Progressive employs over 33,000 people
Now that we’ve covered the basics, let’s see what Progressive has to offer on the auto front.
Progressive Auto Insurance
Progressive offers auto insurance in all 50 states. The company is known for rewarding good drivers with lower rates.
It’s new Snapshot program—which is essentially a usage-based insurance policy—takes this concept one step further. If you consider yourself a safe driver, you might want to add Snapshot to your policy. If you do, you can download the mobile app in the App Store or Google Play Store. You can also install a plug-in device in your vehicle.
Progressive then monitors your driving behavior, including how fast and how much you drive and if you tend to slam on the brakes, for example. Drivers who obey the speed limit and drive less frequently will likely qualify for lower rates. On the other hand, individuals who engage in risky driving behavior and drive often might see higher rates. So, if you’re a speed demon who’s constantly on the road, you probably shouldn’t look into Snapshot!
What Does Progressive Auto Insurance Cover?
Progressive offers several auto insurance coverage options:
- Basic liability coverage is required by law in order to drive your car. Basic liability plans generally come with bodily injury and property damage liability.
- Bodily injury liability pays for medical expenses and lost income in the event you cause an accident. It also might pay for legal fees if you are sued.
- Property damage liability covers the costs of damages you cause to another person’s vehicle. It also pays for damage you cause to their property (e.g., if you crash into their hot tub. Oops!).
If you’re on the road often or drive an expensive car, you might want to look into Progressive’s more comprehensive plans:
- Comprehensive coverage pays for car repairs outside of a standard accident. For example, if you hit a deer or if your car gets vandalized or stolen, you’d be protected (after paying your deductible, that is).
- Collision insurance pays for any needed repairs that result from an accident—whether or not you were at fault. For example, if you hit another car or back up into a stone wall, collision insurance would pay for the repairs (after your deductible is met).
- Uninsured/underinsured motorist property damage covers repair or replacement costs for your vehicle in the event that someone else causes an accident but doesn’t have insurance. This policy also covers you if the at-fault driver’s insurance plan only covers a portion of the repair costs.
- Medical payments coverage pays for medical expenses (and even funeral expenses, yikes!) for you and your passengers if you’re involved in a serious accident. Depending on which state you live in, this policy might also be called Personal Injury Protection (PIP).
Additional Car Insurance Coverage
Drivers who are looking for even more protection have a variety of additional options to choose from:
- Roadside assistance coverage pays for a tow (up to 15 miles) if your car breaks down. What’s more, Progressive will also send someone to help, free of charge, if you get locked out of your car, get a flat tire, or run out of gas.
- Loan/lease payoff coverage pays for any outstanding amounts you owe on an auto loan if your car is totaled and your insurance reimbursement is lower than your loan amount. Loan/lease payoff coverage is commonly referred to as gap insurance.
- Rental car reimbursement covers your car rental costs in the event that your car is in the shop due to a qualified accident.
- Custom parts and equipment coverage pays for the repair or replacement costs of aftermarket upgrades like stereo systems and chrome rims.
- Rideshare coverage is available if you drive for a rideshare company and want protection beyond what your rideshare company offers. For example, let’s say you’re involved in an accident while circling the block and waiting for your next passenger request. Since you didn’t officially begin a passenger-requested trip, Uber might not cover you, but Progressive would (assuming you also have comprehensive and collision insurance on your policy).
- Deductible savings bank is a cool feature that deducts $50 from your comprehensive and collision deductible for each 6-month period you go without getting into an accident. This means that if you select a $250 deductible and don’t get into an accident for three years, your deductible would be $0 thereafter.
Progressive Home Insurance
If you’re in the market for home insurance, you can easily sign up for free quotes using Progressive’s HomeQuote Explorer tool. Keep in mind that Progressive is most likely not going to be your home insurer underwriter.
Instead, Progressive’s online tools will help you find a plan by linking you with a variety of home insurance providers based on your location, home value, loan amount, and budget.
Progressive’s home insurance policies come with the following benefits:
- Reimbursement for temporary living expenses in the event that your home is damaged due to fire, flood, or natural disaster.
- Repair or replacement costs covered in full meaning that if disaster strikes and your house is completely destroyed, the full costs of the repair or rebuild will be covered.
- Personal liability protection pays for legal expenses if someone sues you for damages due to an injury they sustained while on your property.
- Personal property protection pays for the replacement of items like your TV, tools, and refrigerator in the event that they are damaged or stolen.
- Insurance riders are required if you want protection for more expensive personal items—like jewelry, artwork, or a costly road bike.
If you don’t own a single family home, Progressive also offers condo insurance and renters insurance.
Progressive offers competitive pricing with the other major insurance providers (like Allstate, Geico, and State Farm, for example). I would say that their rates are middle-of-the-road—not the cheapest nor the most expensive.
It is worth noting that Progressive claims you can save an average of $796 by switching your auto insurance over to them. So if you’re in the market for a new auto insurance plan, it probably makes sense to get a quote from Progressive.
Signing Up and Getting Started
To sign up for auto insurance, enter your zip code. You’ll then have to fill out your basic contact and vehicle details, and you’re good to go.
To sign up for home insurance, you’ll use Progressive’s HomeQuote Explorer, which asks for your zip code and address.
Once the tool verifies your address, you’ll then be asked to enter a few additional details about your home in order to receive a quote.
Progressive Promotions, Bonuses, Coupons
You might be able to save 5% by bundling your auto insurance with home, renters, or condo insurance.
This discount isn’t available for all situations, so your best bet is to contact them if you’re interested in getting a discount. I do not see any other discounts or coupons.
Progressive Security Features
As with all large insurance companies, Progressive takes privacy and security seriously.
Their privacy and security page can be found easily on their site, where you can also contact them about security-related concerns.
Customer Service and Support
Progressive offers 24/7 customer support, which is a feature that most insurance companies can’t match. If you need to contact customer support, you can send them an email, chat with an agent, or call them at any time. You can also contact customer support right within their mobile apps.
Pros and Cons of Progressive
There are both advantages and disadvantages to Progressive Insurance.
- Customer support is available 24/7, which is pretty cool
- Reliable company; one of the largest insurers in the U.S.
- Safe drivers might enjoy lower rates
- If you’re looking for the cheapest auto insurance rates, look elsewhere
- Just average customer satisfaction rating in 2019, according to JD Power
- Progressive doesn’t underwrite most of their home insurance policies, so you might find better rates by going direct
Alternatives to Progressive
The most popular alternatives to Progressive include:
Here are some frequently asked questions about Progressive Insurance:
Is Progressive or Geico Better?
This is a matter of personal opinion. If you’re trying to decide whether Geico or Progressive is better for you, I recommend giving both a call to review how their policies compare to your unique situation.
Why is Progressive So Cheap?
Progressive might be cheap if you’re a safe driver with a clean driving record. However, they aren’t the cheapest insurer. How much you pay depends on the value of your car or home and how much coverage you want.
What is the Best Auto Insurance Company?
Again, each person’s situation is different, so I cannot say which is the best auto insurance company. It’s all about finding an insurance company that fits your needs. There are lots of insurance companies out there, so if you’re unhappy with yours, why not jump ship and try out a new provider?
In my experience, insurers tend to jack up your rates if you stick with them for an extended period of time, probably because shopping for insurance isn’t the most exciting thing in the world to do. I’d recommend reconsidering your insurance options every few years to ensure your rates are reasonable. Pro tip: Partnering with an insurance agent you trust can solve this problem for you.
Is Progressive Right for You?
As the third-largest auto insurer in the U.S., it’s obvious that Progressive is doing a lot of things right when it comes to auto insurance. They’re also ranked in the top 100 of all Fortune 500 companies—so it’s safe to say that they’re pretty profitable as well.
If you are looking for a name-brand insurance provider that offers a wide range of insurance services and 24/7 customer support, you can’t go wrong with Progressive. On the other hand, if you’re looking to spend as little as possible on auto insurance—or if you want to get a home insurance policy direct—you might want to keep shopping.
Here’s to finding an insurance policy that is right for you and fits within your budget!
Progressive Insurance Review
Progressive is one of the largest insurance providers in the U.S., offering several different types of coverage for its customers.
- Customer Support Available 24/7
- Low Rates for Safe Drivers
- Discounts for Policy Bundles
- Not the Cheapest