Progressive Insurance Review 2021: A Budget-Friendly Provider with High-Tech Tools

A photo to accompany a review of Progressive insurance Illustration/NextAdvisor

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Founded in 1937, Progressive is now a leading company in the insurance industry. It’s currently the third-largest insurance provider, holding 12.2% of the market share, third behind Geico and State Farm. Progressive offers 34 insurance products, as well as a personal loan program.

Progressive has some of the most innovative insurance technology and online resources of any provider. “Progressive has traditionally been a leader in technology, allowing people to buy directly, which is great, and has been a big step forward for the industry,” says Chris Lotz, CEO of Goodcover, a California-based insurance provider. However, the company has below-average customer satisfaction, according to third-party ratings and some brokers.

Progressive Auto Insurance 

Progressive is probably best known for its auto insurance policies. Progressive auto insurance is a great option for drivers who want to customize their policy. The company also offers an impressive list of discounts and online calculators, like the Name Your Price Tool, which helps you find coverage within your budget.

Types of Coverage 

  • Personal liability insurance
  • Comprehensive insurance
  • Collision insurance
  • Uninsured/underinsured motorist coverage
  • Medical payments coverage
  • Gap insurance
  • Rental car reimbursement
  • Custom parts and equipment coverage
  • Rideshare insurance
  • Roadside assistance
  • Accident forgiveness

Cost of Progressive Auto Insurance 

According to recent data from Bankrate, the average cost of Progressive auto insurance is $1,419 for a full coverage policy and $493 for a minimum coverage policy. For comparison, the average cost of car insurance in the United States is $1,674 per year for full coverage and $565 per year for minimum coverage.

Progressive Auto Insurance Discounts 

  • Multi-policy discount: Save an average of 5% when you bundle a home and auto insurance policy.
  • Multi-vehicle discount: Save an average of 4% on your car insurance if you add two or more vehicles to your policy.
  • Continuous insurance discount: If you switch to Progressive from another insurance provider, Progressive will give you a discount based on how long you were insured with the previous company.
  • Snapshot safe driver discount program: By enrolling in the Snapshot safe driver discount program, you could save an average of $146 per year by proving that you’re a safe driver.
  • Teen driver discount: This discount will prevent your rate from increasing significantly if you add a teen driver under 18 to your policy.
  • Good student discount: Students who maintain a B average or better can save an average of 10% on their policy with Progressive.
  • Distant student discount: Students at least 22 years old and who attend college more than 100 miles away from home can get a discount on their policy, assuming they don’t have a car on campus.
  • Homeowner discount: Homeowners can save an average of 10% on their auto insurance policy from Progressive.
  • Online quote discount: Getting an auto insurance quote online can help you save an average of 7% on your policy.
  • Sign online discount: Drivers who sign their policy documents online can save an average of 9% on their policy.
  • Paperless discount: Progressive offers a small discount for drivers who enroll in paperless statements.
  • Pay in full discount: Drivers can get a discount on their policy by paying their annual premium in full.
  • AutoPay discount: Signing up for automatic payments will lower your rate.
  • Deductible savings bank: For each policy period that you don’t have an accident, violation, or claim, Progressive will lower your deductible by $50.
  • Claims-free discount: If you have no tickets or accidents on your record within the past three years, you’ll save an average of 31%.

Progressive Home Insurance 

Progressive home insurance is fairly basic in terms of coverage, but the company offers a handful of discounts that can help you get a cheaper rate. You can use Progressive’s HomeQuote Explorer tool to compare Progressive’s rates with some of its biggest competitors.

Types of Coverage

  • Dwelling insurance
  • Other structures coverage
  • Personal liability insurance
  • Personal property coverage
  • Loss of use coverage
  • Medical payments coverage
  • Water back up coverage
  • Personal injury coverage

Cost of Progressive Home Insurance 

The cost of Progressive home insurance is based on factors such as location and home value. The average Progressive home insurance policy runs about $1,026. In comparison, the national average is $1,477 to insure a home valued at $250,000, according to Bankrate data. 

 Progressive Home Insurance Discounts 

  • Multi-policy discount: You can save an average of 5% when you bundle a home and auto insurance policy with Progressive.
  • Safety and alarms discount: If your home is equipped with a security system, fire alarms, or automatic sprinklers, you qualify for a discount.
  • Quote in advance discount: Getting a home insurance quote from Progressive at least 10 days before your policy starts can lower your rate.
  • Pay in full discount: Policyholders who pay their annual premium upfront and in full can save some money on their insurance.
  • New home discount: If you recently purchased a new home or switched from a Progressive renters insurance policy, you’ll get a lower rate.
  • Newly built home discount: Newly built homes qualify for a discounted insurance rate.
  • Digital documents discount: Policyholders who sign up for emailed statements can get a discount.

Progressive Life Insurance 

Progressive offers a few popular life insurance policies, with coverage ranging from $5,000 to $1 million. You can get a quote online for certain policies using the instant quote generator

Types of Coverage

  • Term life insurance: A life insurance policy with a set period of time, such as 10, 20, or 30 years. 
  • Whole life insurance: A policy that lasts throughout one’s life. 
  • Universal life insurance: Permanent life insurance with a savings and payout component.  
  • Final expense insurance: Coverage for end-of-life expenses

Cost of Progressive Life Insurance 

Life insurance rates are unique to every individual. Factors like your age, gender, overall health, family history of disease, and the type of policy you buy will affect your premium. NextAdvisor pulled a sample term life insurance quote for a 40-year-old female living in Rhode Island who is in good health and doesn’t smoke. For a policy with $300,000 in coverage over a 30-year term, Progressive quoted us $455 per year or $38 per month. In comparison, Bankrate data shows that the average price for the same criteria is $29.63 per month. 

Progressive Life Insurance Discounts 

Progressive doesn’t offer any life insurance discounts.

Progressive Insurance Ratings, Customer Satisfaction, and Complaints 

Progressive’s third-party ratings, particularly those from J.D. Power is not impressive. 

“Some customers do complain about Progressive’s claims department, the customer service provided, and the ratio of claims paid out,” says Katie Sopko, an insurance broker at A Plus Insurance, an insurance brokerage agency that serves 14 U.S. states. “Progressive does have below-average customer service ratings, so if you are looking for stellar customer support, you might be better served elsewhere,” Sopko adds.

Here are the most recent third-party ratings for Progressive auto, home, and life insurance:

Progressive Auto Insurance 

J.D. Power: 856/1,000 Industry Average: 872/1,000

NAIC: 0.89/1.00 (fewer than average complaints)

A.M. Best: A+ (Superior)

Progressive Home Insurance 

J.D. Power: 867/1,000 Industry Average: 881/1,000

NAIC: 1.91/1.00 (above average complaints)

A.M. Best: A+ (Superior)

Progressive Life Insurance 

J.D. Power: N/A

NAIC: N/A

A.M. Best: A+ (Superior)

Progressive Pros and Cons

Pros

  • Great car insurance discounts: Progressive has some of the best car insurance discounts of any provider, so it’s a great option for drivers who want to maximize their savings.

  • Unique digital tools and resources: Progressive’s digital tools and resources are pretty much unmatched. Whether you want to compare policies, compare prices, or get help deciding on coverage, Progressive has a tool you can use.

  • Excellent financial strength: Progressive has an A+ rating from AM Best, so you’ll never have to worry about the company failing to reimburse you after a covered claim.

Cons

  • Poor claims satisfaction scores for most policies: Progressive’s home and auto insurance policies are both rated below average for overall claims satisfaction by J.D. Power.

  • Limited life insurance options: If you’re looking for life insurance, Progressive may not be your best option. The policies are limited compared to other life insurance providers.

  • High number of company complaints: Progressive has higher than average complaints for most of its insurance products, according to the NAIC Company Complaint Index.

Other Policies Offered by Progressive 

  • Boat insurance
  • Classic car insurance
  • Golf cart insurance
  • ATV insurance (all-terrain vehicle)
  • Mexico auto insurance
  • Motorcycle insurance 
  • PWC insurance (personal watercraft)
  • RV insurance (recreational vehicle)
  • Segway insurance
  • Snowmobile insurance
  • Condo insurance
  • Flood insurance
  • Home security insurance
  • Home warranty insurance
  • Homeshare insurance
  • Mobile home insurance
  • Renters insurance
  • Dental insurance
  • Health insurance
  • Identity theft insurance
  • Pet insurance
  • Phone/electronic device insurance
  • Umbrella insurance
  • Travel insurance
  • Vision insurance
  • Wedding/event insurance
  • Business insurance

Bottom Line

Progressive is not a perfect insurance company, but it has a number of appealing advantages, so it’s definitely worth considering.

“Progressive is very user-friendly with fair financial choices,” says Jim Pendergast, senior vice president of AltLINE, a national lending company. “If you’re looking for a company for a wide variety of insurance options, Progressive is an excellent choice.”

Progressive stands out for its customizable, comprehensive auto insurance offering and its many possible discounts. Progressive’s home insurance product can be a good option for people who need basic coverage and aren’t looking for specific riders or endorsements.

The major downsides to Progressive are its poor claims satisfaction reviews and high number of complaints. If you’re looking for an insurance company with a history of exceptional customer service, Progressive probably isn’t the best choice for you. 

Frequently Asked Questions 

Does Progressive have accident forgiveness?

Yes, Progressive does offer small accident and large accident forgiveness. All new auto insurance policies include small accident forgiveness for free, which will prevent your rate from increasing after an accident or a claim that is less than $500. You can only get large accident forgiveness after you’ve been a Progressive customer for five years and have remained accident-free and violation-free for a minimum of three years.

Is Progressive home insurance good?

Progressive home insurance is a pretty good option, but it depends on what you’re looking for. There are only a few endorsements you can get for extra coverage, so you may want to pass if you want to build a fully customized home insurance policy with optional coverages. However, Progressive offers lots of home insurance discounts, so it can be a good choice based on price alone.

What is Progressive’s phone number?

You can reach Progressive’s customer support team at 1-855-347-3939.

Why is Progressive insurance so cheap?

Progressive insurance uses a combination of technology and discounts to offer better pricing to the customer. You can use Progressive’s price comparison tool to shop and compare between Progressive and competitor quotes.