Progressive is one of the largest auto insurance in the United States, with over 13 million policyholders. The company has been in business since 1937 and offers a variety of coverage options to its customers. Progressive is known for its innovative approach to insurance, offering discounts for things like signing up for automatic payments and insuring multiple vehicles on one policy.
The company also offers a unique program called Snapshot, which uses a telematic device to track your driving habits and give personalized feedback to help you save money on your premium. This Progressive auto insurance review will look at the company’s history, financial stability, customer satisfaction ratings, and coverage options to help you decide if it’s the right insurer.
History of Progressive
Progressive began in 1937 with Joe Lewis and Jack Green as an auto insurance company offering driver instalment plans. The company developed the first Drive-In Claims service in 1940 and became the first insurer to provide low-down-payment auto insurance in 1956. In 1987, Progressive Insurance Group was formed as a holding company for the various Progressive companies. The group now includes more than 30 insurance companies and serves more than 17 million customers in the United States.
How does Progressive work?
Progressive auto insurance works by providing customers with a quote based on their driving habits. This quote is then used to determine the customer’s rate, which is how much they will pay for their policy. The company uses a variety of factors to calculate rates, including the type of car you drive, your driving history, and your credit score.
What are the benefits of Progressive Auto Insurance?
There are many benefits to Progressive Auto Insurance. Some of these benefits include:
- Offers a variety of insurance options, so you can find the coverage that best suits your needs
- One of the largest auto insurers in the United States, so you can be confident that you’re getting reliable coverage
- Offers discounts for a variety of things, including safe driving, multi-car policies, and more
- It has a well-known and trusted brand, so you can be sure you’re getting quality coverage
Progressive Auto Insurance is an excellent choice for reliable and affordable coverage.
What are the drawbacks of Progressive Auto Insurance?
Customers should be aware of a few potential drawbacks to Progressive auto insurance.
- The company does not have the most extended history in the industry. Founded in 1937, Progressive is one of the newer insurers compared to companies like State Farm and Allstate. Depending on your perspective, this could be seen as positive or negative.
- Progressive may not have the most comprehensive array of coverage options available. While they offer standard auto insurance coverage, they may not have as many add-on options as other insurers.
- Progressive’s rates are not always the cheapest. They are often competitive, but there are sometimes more affordable options. This is why it’s always important to compare rates from multiple insurers before making a final decision.
- Some customers have complained about customer service issues with Progressive. While this is certainly not universal, it is something to be aware of if you’re considering them as your insurer.
Overall, Progressive is a solid option for auto insurance, but there are a few things to keep in mind before signing up. Before making your final decision, compare rates and coverage options from multiple insurers.
Progressive offers a wide range of discounts, including insuring multiple vehicles on one policy, bundling home insurance and auto coverage, and being consistently guaranteed even if you switch.
Here’s the complete discount list:
- Automatic payment discount. Set up automatic payments from a checking account, credit card, or debit card and receive a discount.
- Continuous insurance (for when you switch carriers). When you switch to Progressive, you will save.
- Distant student discount. If you have a full-time student on your policy who is 22 years old or younger and lives more than 100 miles from your home, you can get a discount (without a family car).
- Good student discount. Get a discount on your policy if your household includes a student with a B average or higher.
- Homeowner discount. You can save even if Progressive doesn’t insure your home if you’re a homeowner.
- Discount for multiple vehicles. If you have more than one vehicle on your policy and it is kept at your address, you will receive a discount.
- Discount for multiple policies. Get a discount when you combine your auto insurance with your home, motorcycle, RV, or any other combination of Progressive policies.
- Discount for online quotes. You will save money if you get your quote online.
- Discount for online signup. Sign your documents online and save money.
- Discount without paper. Choose to receive your documents via email and save money.
- Discount for full payment. For this discount, pay for your annual policy in full and upfront.
- Discount for safe drivers. Progressive’s Snapshot program tailors your rate based on your safe driving habits, which are tracked via the Snapshot mobile app.
- Discount for teen drivers. You may be eligible for a discount if you have been a Progressive customer for a year or more and add a teen driver (18 or under) to your policy.
Also, remember that discounts will vary depending on your state, driving record, and other personal information.
Considering Progressive auto insurance, it’s essential to know the claims process. Here’s what you need to do:
First, call the number on your insurance card to report the claim. You will be asked for your policy number and some other basic information.
Next, a claims adjuster will be assigned to your case. If necessary, the adjuster will contact you to get more information and schedule an inspection.
Once the adjuster has all the information they need, they will determine how much your claim is worth and send you a check.
Progressive offers direct deposit for claims to get your money quickly and easily.
Remember that Progressive may require you to use their repair shop network for repairs. If you use an outside shop, you may have to pay out of pocket and then submit a request for reimbursement.
Pros Using Progressive Auto Insurance
Rewards safe drivers. Progressive allows drivers to sign up for Snapshot, its usage-based program that tracks driving habits and awards discounts to safe drivers. However, if you drive poorly, your rates could go up the next time you renew your policy.
Offers rideshare insurance and other non-standard coverages. Progressive has a few coverages not offered by every company, such as rideshare insurance for Uber and Lyft drivers and coverage for your cats and dogs should they get injured in a car accident, regardless of fault.
Variety of discounts and ways to save. There are many ways to save money with Progressive, including multi-policy bundles, good student discounts, homeowners discounts, and the aforementioned safe-driving program. Considering Progressive’s higher-than-average rates, you’ll also want to use these discounts.
Cons Using Progressive Auto Insurance
Premiums are above the industry average. Car insurance premiums depend on a whole host of factors: your driving record, your age, the state you live in, and more. Based on our data analysis from Quadrant Information Services, premiums with Progressive are above average, the industry average for full coverage. You could find cheaper rates with other insurers or take advantage of Progressive’s available discounts to help lower your price.
Is Progressive Auto Insurance right for me?
There’s no one-size-fits-all answer to this question, as the right auto insurance company depends on various factors. However, if you’re looking for an affordable option with a wide range of coverage options, Progressive could be a good choice.
Progressive offers several different types of coverage, including liability, collision, comprehensive, and uninsured/underinsured motorist coverage. You can also add on extras like roadside assistance and rental car reimbursement.
One of the most significant selling points of Progressive is its pricing structure. The company offers several discounts that can help keep your premiums low, including discounts for bundling your auto insurance with other types of insurance from Progressive (such as homeowners insurance).
Another thing to consider is Progressive’s “Name Your Price” tool, which allows you to input how much you want to pay for your policy and then shows you options that fit within your budget. This can be a helpful way to compare rates and find the most affordable option.
Ultimately, the best way to determine if Progressive is the right auto insurance company for you is to get quotes from multiple companies and compare their rates, coverage options, and discounts.
The Bottom Line
There are a lot of things to like about Progressive Insurance. They offer many features and benefits that appeal to many customers, including those looking for the best possible value for their money. However, there are also some downsides to Progressive that should be considered before signing up for a policy.
The bottom line is that Progressive is a solid choice for auto insurance, but there are better options if you’re looking for the absolute lowest rates. If you’re willing to sacrifice some of the bells and whistles offered by Progressive, you can find cheaper coverage elsewhere.
Image Source: https://www.progressive.com