Progressive Insurance Review: Average Rates, But Quality Features
Average rates and service, but some features may make it worth your while
Drivers who have been involved in a car accident
Anyone who wants to be rewarded for their good driving habits
Home insurance policies with limits of $150,000 and under
Young drivers looking for the lowest auto insurance rates
Someone who wants access to the best available customer service
Progressive isn’t the cheapest insurance company, but it offers a comprehensive set of coverages and discounts, meaning you can get great rates if you qualify. Furthermore, it provides certain features that make it a worthwhile choice for some, such as its Snapshot program, which offers outstanding discounts for dependable drivers. By no means is it the best insurance company, but it offers everything you’d expect in exchange for fair rates and good coverage.
Progressive: Average in Most Ways, But Can Be Great For Some
For most prospective policyholders, Progressive offers average insurance rates. However, the company offers favorable pricing for a few customer segments, namely drivers with previous accidents and homeowners looking for a low policy limit. For instance, a driver with a previous history of accidents could take advantage of Progressive’s highly competitive rates for drivers with accidents on their records. Furthermore, that driver could participate in the Snapshot program, which would lower their rates even more if they exhibit safe driving habits.
Progressive’s customer service isn’t exceptional. You’ll likely experience minor irritations, including long phone wait times and a lot of back and forth before a claim is paid. If you decide to sign up for a homeowners insurance policy with Progressive, you’ll be at the mercy of the specific company that underwrites your policy. Progressive partners with other insurance companies to underwrite its homeowners policies—affecting your customer service experience and, most importantly, how quickly a claim is paid out.
Auto Insurance Take-Away: Experienced drivers and drivers who have had previous accidents are likely to find solid rates with Progressive. People who drive conservatively will also most likely find the best rates with Progressive, thanks to the Snapshot program. If you don’t fall into the three aforementioned driver segments, you’d likely find better rates and service elsewhere.
Home Insurance Take-Away: If you’re comfortable doing extra work and researching your specific underwriter, you might be able to find a great deal. For instance, Homesite, one of Progressive’s underwriters, provides great rates for home insurance policies under $150,000. However, if you’re unwilling to delve further into the details surrounding your specific underwriter, it’s best to select another insurance company that underwrites its own policies.
Progressive Auto Insurance
Progressive is one of the largest auto insurance companies in the U.S., comprising 9% of the auto insurance market in terms of premiums underwritten. Its large size allows the company to offer discounts, coverage options and rates that are comparable to other large national insurance companies. Below, we outline Progressive’s unique features and explore its pricing compared to its peers.
Progressive Auto Insurance Coverage Options and Discounts
Progressive offers all the auto insurance coverages you’d expect from a national insurance company. However, it does also provide a couple of unique coverages, such as pet injury coverage and custom parts and equipment value coverage.
Pet Injury: If your dog or cat is injured in a car accident, Progressive will pay for any veterinarian bills associated with the accident. The coverage is part of your collision insurance, meaning that you would have to pay the deductible of your policy to be able to file a claim. If you have a pet, it’s possible that you already have pet insurance, but the deductible for Progressive’s pet injury coverage may be less than the deductible on your pet insurance policy, which could save you money.
Custom Parts & Equipment Value: If you enjoy customizing your vehicle with aftermarket parts, consider adding this endorsement. Progressive provides $1,000 of coverage for accessories and custom parts like stereos, navigation systems and grilles under both collision and comprehensive coverage. You can purchase coverage beyond $1,000 separately from Progressive.
Gap Insurance: If you’re involved in an accident, your collision policy will typically only cover the cost of your car up to its actual cash value, which may be less than what you owe on a loan or lease. Gap insurance is meant to cover you for the difference between the balance on a loan or a lease and your car’s value. Progressive limits its gap insurance coverage to 25% over a vehicle’s actual cash value. However, the endorsement is worth it if you recently purchased a new car, as Progressive’s average customer pays only $5 a month for it.
Rental Reimbursement: If your car is involved in an accident, this endorsement will reimburse you for the cost associated with renting a vehicle while your car is being repaired. The endorsement is only valid for 30 days, and coverage limits range from $30 to $50 a day.
Standard Coverages Offered Through Progressive
Uninsured/Underinsured bodily injury
Uninsured motorist property damage
Progressive’s Auto Insurance Discounts
Progressive provides a standard set of discounts to its policyholders, but it also offers its unique Snapshot program. While the program isn’t a discount itself, customers can achieve discounts by partaking in the program.
How Do You Receive It?
Start Your Quote Online
Receive this discount when you begin the quote process online and then purchase on the phone.
Receive a discount when you go three years without any tickets or accidents.
Receive a discount when you insure multiple vehicles with Progressive.
You’re eligible for a discount if you own a home, even if it’s not insured with Progressive.
Maintain car insurance coverage with no gaps or cancellations. This discount is valid even if you were insured with another company.
Sign Documents Online
Sign your insurance documents online when purchasing a policy.
Pay in Full
Pay the total cost of your policy upfront instead of paying monthly.
Automatic Bill Pay
Set up recurring automatic payments for your insurance bills.
Receive a discount if you have a student on your policy who maintains a “B” average or better. Receive an additional discount if you have a child on your policy who is away at college.
Teen Driver Discount
Add your child to your policy and receive this discount if they are under 18 years old.
Bundle Auto and Property
Save money when you have homeowners and auto insurance policies with Progressive.
Highlight Discount: Progressive Snapshot
Snapshot, one of Progressive’s heavily marketed products, is a device (and now a mobile app) that tracks your driving habits for the purposes of unlocking an auto insurance discount. You can sign up for the program either when you start the policy or at any point in the duration of your policy. You can either plug the Snapshot device into your car’s diagnostic port or download the mobile app to your phone. Progressive will then track information like your mileage, braking habits and time of the day you drive.
Drivers who exhibit safe habits will receive discounts on their premiums. However, your rate can also increase if Snapshot indicates you’re an unsafe driver. Progressive says that 2 out of every 10 drivers receive an increase to their premiums rather than a discount. You’ll get an automatic discount, an average of $25, just for signing up. After you complete the program (which usually takes six months), you’ll get another discount that averages $130.
Progressive Auto Insurance Quotes Comparison
Across most driver profiles, Progressive offers rates that are near its competitors’ averages, meaning Progressive has mediocre rates for most. However, Progressive is the most forgiving insurance company when it comes to drivers with past accidents. We found that Progressive’s auto insurance rate is $456 cheaper than the next most affordable option for drivers with a previous accident. On the other hand, young drivers will likely find Progressive’s rates to be on the high end. Progressive quoted the second least affordable rates for our sample 18-year-old driver.
Progressive Home Insurance
While it’s possible to get homeowners insurance through Progressive, the policy will be underwritten by one of its partners. So if you sign up for home insurance through Progressive, you’ll be dealing with a separate company. Currently, Progressive is partnering with 11 home insurance companies.
Progressive’s Home Insurance Underwriting Partners
All Risks, LTD
American Strategic Insurance Corp
First American Property and Casualty Insurance Group
Foremost Insurance Group
Homesite Insurance Group
IDS Property Casualty Insurance Company
National General Insurance
Occidental Fire and Casualty Company of North Carolina
QBE Insurance Corporation
Below, we discuss Progressive’s home insurance endorsements and discounts and compare Progressive’s home insurance rates to those offered by its competitors.
Progressive Home Insurance Coverage Options and Discounts
Progressive offers a long list of endorsements, but the availability and details surrounding each endorsement will depend on your underwriting company. Endorsements serve as add-ons to a standard home insurance policy and are typically priced in accordance with how much coverage you’d like to receive.
Guaranteed Replacement Cost: Provides coverage for any costs in replacing your home in excess of the limits on your policy. Each home insurance underwriter requires policyholders to meet specific conditions to qualify for this coverage. For example, you may need to increase your policy limit every so often to keep up with the inflation rate. The requirements are meant to keep you insured for the optimal amount in the event of a loss.
Inflation Guard Endorsement: The inflation guard endorsement adjusts your home insurance limits during your policy so that they are at least 80% or more of your home’s replacement cost. It is meant to provide you with coverage in case your home’s value increases and the replacement cost in your original policy isn’t enough to cover the new replacement cost. The inflation guard endorsement functions as more of a buffer than a complete safeguard since it only requires the insurance company to increase its policy limits up to 80% of your home’s replacement cost. This means that if you want to be covered for larger losses, you should opt for the guaranteed replacement cost endorsement.
Scheduled Personal Property Endorsement: If you have items worth more than $1,000 or several items worth hundreds of dollars, consider adding a scheduled personal property endorsement to your home insurance policy. The endorsement, also known as a personal article floater, is meant to insure valuable items that often require higher limits than what’s included in the typical homeowners policy. For Progressive’s underwriting partners, the scheduled personal property endorsement usually doesn’t have a deductible associated with it.
Increased Limits on Money and Securities: If you have stock certificates or large amounts of cash in the home, consider adding this endorsement, which increases the coverage limit on your money and securities.
Secondary Residence Premises Endorsement: Your home insurance policy coverage is typically limited to your primary residence. However, this endorsement allows you to add coverage for a secondary home. An endorsement is often a cheaper alternative to purchasing an entirely separate home insurance policy.
Watercraft Endorsement: The watercraft endorsement extends personal liability and medical payments coverage for certain watercraft, like small sailboats and outboard motor boats.
Theft Coverage Protection Endorsement: This endorsement provides coverage for items that are stolen from your motor vehicle, trailer or watercraft. It’s not necessary to file a police report before filing a claim since proof of forced entry is not required, saving you time.
Credit Card Forgery and Depositors Forgery Coverage Endorsement: Provides protection if your credit card is stolen or used without your permission. The endorsement also provides coverage for forged checks and promissory notes. Unless you use checks or promissory notes often, we don’t recommend purchasing the endorsement since most credit cards come equipped with a $0 liability on fraudulent charges.
What’s Covered by a Progressive Policy?
Protects you from damage or destruction to your home and any unattached structures.
Covers the items in your home for theft, damage and destruction.
Covers financial losses that may arise if you’re sued and found responsible for someone’s injuries or property damage.
Covers medical expenses for someone who is hurt on your property.
Loss of Use
Reimburses you for living expenses if you have to live away from home during home repairs.
Home Insurance Discounts Offered by Progressive
Unfortunately, Progressive doesn’t provide details on specific discounts it offers homeowners since the discounts will vary greatly among underwriters. To get a sense of the discounts available through Progressive, read our review on Homesite Insurance, one of Progressive’s underwriting partners.
Progressive Home Insurance Quotes Comparison
Progressive is an affordable home insurance company for small policy limits and becomes increasingly expensive for higher policy limits. Based on our study, the only insurance company that offered lower rates than Progressive for policies of $150,000 and under was Allstate. The home insurance quotes collected from Progressive were provided by Homesite Insurance.
Progressive Motorcycle Insurance
What makes Progressive bike insurance such a great option for such a broad range of riders is that it offers something for everyone, whether it’s the slew of coverage options or the discounts. Keep in mind that Progressive’s ATV insurance is offered under its motorcycle insurance policies. In other words, the process for getting a Progressive ATV quote is identical to getting a motorcycle insurance quote. This is fairly typical, as most insurance companies cover ATVs under their motorcycle insurance policies.
Progressive Motorcycle Insurance Coverage Options
Where Progressive excels and what makes it one of the best motorcycle insurance companies is the number of quality add-ons that it offers riders. For instance, all of Progressive’s motorcycle insurance policies include full replacement cost coverage at no additional charge. The coverage reimburses customers for the total amount of their loss rather than a depreciated amount. For example, if one of your tires gets damaged in a covered loss and you need a replacement, Progressive would reimburse you for the cost to purchase a new tire. Other motorcycle insurance companies reimburse you for a depreciated amount, which is based on the value of the tire at the time it was damaged. Other notable free add-ons include coverage for custom parts and custom equipment.
Along with free add-ons, Progressive’s motorcycle insurance policies offer the standard coverages listed below:
Bodily injury and property damage liability coverage
Uninsured and underinsured motorist coverage
Comprehensive and collision coverage
Progressive Motorcycle Insurance Discounts
What makes Progressive’s motorcycle insurance discounts great is that they are easy to qualify for. For instance, if you own a home, you’re automatically eligible for a discount, regardless of which company the home is insured with. There are also bundle discounts available, meaning if you have both Progressive auto and motorcycle insurance policies, you’ll be able to save money. Below, we provide a comprehensive overview of Progressive’s motorcycle insurance discounts.
How Do You Receive It?
Quote in advance
Receive a Progressive motorcycle insurance quote at least one day before your policy begins.
Receive a discount when you go three years without an accident.
Bundle a Progressive motorcycle insurance policy with another Progressive insurance policy.
Insure more than one vehicle with Progressive.
Switch to Progressive from another insurance company to receive a discount.
Pay in full
Pay your policy upfront, as opposed to in installments, and receive a discount.
Pay on time
If you pay your Progressive motorcycle insurance policy on time for a year, you’ll be eligible for a discount.
Set your motorcycle insurance premium to be automatically deducted from your bank account.
Receive this discount when you own a home, even if it’s not insured with Progressive.
Receive a discount if you’re a member of the Harley Owners Group or of the United Services Automobile Association (USAA).
Get a discount on your motorcycle insurance if your bike is equipped with a LoJack.
If your motorcycle is equipped with anti-lock brakes, you’re automatically eligible for a discount.
Receive this discount after getting a motorcycle license or adding a motorcycle endorsement to your driver’s license.
Complete a Progressive-approved insurance motorcycle safety course and become eligible for a discount.
No at-fault accidents
Receive a discount at policy renewal if you haven’t had any at-fault accidents or claims.
Progressive’s motorcycle insurance quotes are moderately priced. For instance, based on our sample, Progressive offered an average annual rate of $650 to riders in Texas for full-coverage motorcycle insurance. However, the exact amount you’ll pay for your motorcycle insurance coverage will depend on where you live, among other factors. When evaluating motorcycle insurance quotes, we recommend comparing the quote you receive to the average cost of motorcycle insurance in your state to ensure that you’re receiving a good deal. While cheap rates are an important consideration, you’ll also want to consider the quality of the coverage options offered by each motorcycle insurance company. In that regard, it’ll be hard to top a Progressive motorcycle insurance policy.
Progressive Customer Reviews, Complaints and Financial Strength Ratings
Progressive, well-known for its ad campaign featuring an enthusiastic spokeswoman named Flo, is a middle-of-the road company when it comes to customer service and claims processing. Progressive’s reviews often criticize the company’s representatives for their unresponsiveness. And J.D. Power, an industry expert, rated Progressive 14th among 24 auto insurance companies in its U.S. Auto Claims Satisfaction Study. Notable insurance companies that received a higher ranking include GEICO, State Farm and Allstate. However, Progressive’s complaint rating of 0.32 from the National Association of Insurance Commissioners is significantly lower than the national median of 1.00, meaning that Progressive receives significantly fewer complaints than most insurance companies.
Progressive is in great financial health, meaning that policyholders shouldn’t have reservations about Progressive’s ability to pay out claims. A.M. Best Rating Services assigns letter grades to insurance companies based on their ability to meet their financial obligations. Progressive was assigned a letter grade of A+ by A.M. Best Rating Services, signifying superior financial health.