Progressive Insurance Review

Progressive Insurance was founded in 1956 to provide auto insurance to higher-risk drivers. While it’s best known for auto insurance, Progressive offers a wide range of policies, including property, commercial and personal. This range of coverage types allows Progressive to provide discounts for customers who want to bundle multiple types of policies to save money. The company offers some of the cheapest rates for insuring a car.

Progressive lets you save when you bundle home and auto insurance if you’re a homeowner. The company also offers products that help businesses meet regulations and protect their workers. Business insurance, including general liability, commercial auto, professional liability, and worker’s compensation, are just some products beyond personal auto protection. 

As demand for new insurance products increases, Progressive has kept up to offer a range of protections that can help customers plan for the future and protect their property and health. 

If you’re looking for life insurance, dental or travel insurance, the company has products that may meet your needs. Let’s take a look at some information about Progressive Insurance which can help you decide how they can help you protect your property and finances.

History of the Company

Progressive Insurance was founded in 1937 by Joseph Lewis and Jack Green to provide basic auto insurance that anyone could afford. Early on, they decided that the company needed to be innovative and was the first in the industry to offer the location of a drive-in claim. They are also the first company to offer a safe driver program that provides discounts to drivers without accidents. 

Today, most auto insurance companies provide discounts to safer drivers, which started as an innovative practice unique to Progressive. In 1990, Progressive became the first company in the industry to offer 24/7, anywhere, anytime claims service. Progressive Insurance was also the first company to offer comparison rates and the option to buy by phone. This customer-driven focus made them the number one seller among independent agents two years later. 

They also began offering 24/7 customer service. In 1995, the company first introduced another auto insurance industry: a website. Progressive eventually started offering instant quotes through their website, allowing customers to find local agents. Two years later, customers could buy policies online in real-time. 

Size And Reputation Today

Progressive is the largest auto insurer in the U.S. and the third largest insurance carrier in the industry. They have grown from their initial auto insurance offerings and now provide a wide range of policies covering home, life, pet, and event insurance, among others. According to NAIC, the company wrote over $35 billion in auto insurance premiums in 2021. In 2022, MarketWatch rated the company a 9.2 out of 10. 

While Progressive doesn’t offer the lowest rates in the industry, they are a financially stable company and have achieved an A+ financial strength rating from AM Best. Consumers looking to work with a reliable company positioned to be viable for years to come appreciate Progressive’s financially conservative business model. 

Progressive’s overall value and reliability have made them one of the top insurance companies in the nation. They have lower customer service ratings than some other companies, and their snapshot program can raise rates for certain drivers. Focusing on financial stability will help them continue serving consumers for many years.

Progressive Insurance Savings

Can a switch to Progressive Insurance save you money? While Progressive Insurance doesn’t have the lowest rates in the industry, they are below the national average. For many consumers, simply switching to Progressive can save them money. This is particularly true if they have multiple vehicles or are bundling home and auto insurance. 

For those who want to save as much as possible, Progressive offers discounts that can provide savings beyond their already lower rates. A survey conducted by MarketWatch for 2022 showed that a 35-year-old driver with good credit and a clean driving record could expect to pay around $1,611 per year for auto insurance from Progressive. 

This is lower than the market average of $1,730 per year and much lower than the highest-priced insurer, Farmers, which came out at $2,140 per year. While this data was, for example, drivers getting auto coverage, it shows how Progressive’s lower rates can save you money when you switch from a higher-priced insurer. You’ll need to contact Progressive to see if and how much they can save you on the cost of the policy you already have.

Available Discounts

Progressive Insurance offers a wide range of coverage from auto to home and life. Every type of insurance has discounts, which can save you money. When buying auto insurance, you can save if bundling with one of their other products. 

Progressive’s Snapshot program can save you money based on your driving habits. Snapshot is usage-based insurance that uses an app on your phone or a plug-in device to track how and when you drive. This type is called a multi-policy discount and can be an excellent opportunity to save money beyond Progressive’s already low prices. 

If you don’t use your vehicle all the time or are a careful driver, this program can save you extra money. According to Progressive, the drivers using Snapshot save an average of $156 per year. Progressive offers discounts if you install safety equipment such as burglar and fire alarms if you’re looking for homeowner’s insurance. 

You can also save money if your home is new construction, or you pay your yearly policy upfront. Contact Progressive for a quote to discover what discounts you qualify for.

Claims Processing and Customer Service

Filing a claim with Progressive varies with the insurance policy you’ve purchased. They have a 24/7 claims service, and many claims can be filed through their smartphone app. Auto insurance claims will involve talking to a representative to decide if you want repairs completed or want to be paid directly. 

If you are financing or leasing your auto, your lender may require repair. Progressive works with a network of shops across the nation to provide repair services. Receiving payment directly into your account can give you more freedom to decide when and how your vehicle is repaired. You can get a repair estimate first before you choose. Serious accidents which result in your car being damaged beyond repair are considered a total loss. 

Total loss claims are handled differently, and you’ll need to contact Progressive for more information. One weak point is Progressive’s customer service: Some customers report problems dealing with the company, and coverage is lacking in some situations. 

They offer 24/7 customer service, but you may need to speak to someone specific in the company, which can sometimes lead to a “phone tag.” Experiences vary, and simple situations can be handled quickly and easily. More complicated problems may require extra effort to contact the right representatives in the company.

Website and Mobile App

Progressive Insurance began using a website before many other companies in the industry. They have been at the forefront of internet accessibility ever since. Customers can use their website to get quotes, sign up for new coverage, pay bills and see claim status. 

Progressive offers a Name Your Price tool to help people locate the coverage that fits their budget. The company also maintains apps for iOS and Android, which let customers report and track claims, get quotes for new policies and request Roadside Assistance. 

A dedicated app can benefit customers who have signed up for usage-based insurance through Progressive’s Snapshot. The Snapshot app displays information about your driving behavior, records your trips, and provides information and tips to help improve your driving. 

Progressive’s advanced website and smartphone apps can give customers quick and helpful information which can improve their driving and help them request claims and assistance when needed.

Other Types of Insurance Offered

While Progressive started offering auto insurance, it has expanded its product lines through the years. Today they offer insurance products for homeowners, business owners, and a range of personal policies. Consumers looking for a boat, motorcycle, RV/Trailer, ATV, and even snowmobile insurance may find that Progressive has excellent and affordable options. 

The company offers business insurance, commercial auto, general liability, and worker’s compensation. If you are a business professional that needs liability insurance, Progressive has products that can help you meet legal obligations and protect your finances. 

Consultants, attorneys, engineers, accountants, and home inspectors are just some of the professionals who want or may be required to have insurance. Progressive understands the needs of professionals and can provide the insurance protection you need while growing your business. 

Progressive has added many types of protections over the years, and consumers can now benefit from a wide range of products. Looking for dental, travel, life, or pet insurance? Progressive now offers competitive rates on these types of insurance. People planning weddings or other gatherings can get liability and venue protection with Progressive’s Wedding & Event insurance. 

Event venues often require insurance as part of their rental agreement, making this type of insurance a must-have. Even if you’re familiar with Progressive’s auto insurance offerings, look at the many kinds of protections they carry and see if one may be a good fit for you.

How To Get a Quote With Progressive Insurance

Receiving a quote with Progressive can be done through their website or by an independent agent. If you know the type of coverage you’re looking for, ordering online is a fast way to get protection. If you’re buying a more complicated policy or are unsure what coverage options you need, speaking to an agent can help you make the right decision. 

Online or through an agent, Progressive makes buying insurance easy. Agents are familiar with the company’s offerings and can introduce you to products that can save you money or offer greater protection. Speaking to an agent can help determine what you types of discounts you qualify for. 

Progressive Insurance Pros and Cons

Progressive is a great company but may not be for everyone. Here are some pros and cons which may help you decide if insurance coverage from Progressive is the right fit for you.

Pros:

  • Progressive is a well-regarded insurance company.
  • Rates are often lower than the industry standard.
  • Many opportunities to save money when bundling multiple policies.
  • Progressive’s auto insurance can be a good choice for high-risk drivers.
  • Excellent financial strength, according to AM Best.
  • Available anywhere in the nation.
  • It’s easy to get insurance quotes.

Cons:

  • Customer service may be lacking in comparison to some competitors.
  • Higher average rates for teen drivers.
  • Low scores for customer loyalty.

What Types of Customers Should Consider Progressive Insurance?

Consumers looking for discounted insurance coverage can benefit from Progressive’s low rates. These rates can be lowered further if you are bundling multiple coverage types. 

They can also be a good choice for higher-risk drivers who may have difficulty getting insurance through other providers. Higher-risk drivers should expect to pay higher rates but may still be able to get coverage through Progressive.

Significant Insurance Industry Ratings for Progressive

CompanyRating
Moody’sA2
BBBA+
NAIC1.70
S&PA
J.D. Power4.1/5

Final Thoughts On Progressive

Progressive Insurance has been a reputable company at the forefront of technological innovation for decades. They have grown from only being an auto insurance company to offer a wide range of policies for drivers, business owners, homeowners, and others. 

Progressive’s rates are higher than some other companies but can still be lower than industry averages. While they are a well-regarded company, they suffer from lower customer satisfaction and loyalty. Customer service can also be lacking at times. 

The company does try to stay connected to customers with online services and apps for iOS and Android, which can help when making claims or requesting services such as Roadside Assistance. 

If you are only looking for auto insurance or want to see how much you can save when bundling multiple products, contacting Progressive through their website or speaking to an agent can help you decide if the company is a good fit.

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1 thought on “Progressive Insurance Review”

  1. My insurance company Progressive has always been there for me when I needed them. I have never had any problems with my insurance company, and they always offer great rates.

    One day after getting in an accident that wasn’t my fault, I called my insurance company to start a claim. They were accommodating and processed everything quickly. They worked with the other driver’s insurance company to promptly repair my car. Overall, I was delighted with their service.

    My family has insurance through them as well, and we’re all happy. We’ll probably even recommend it to our friends.

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