Key points:
- Progressive is one of the lowest-cost auto insurance providers in most states.
- They offer rideshare coverage for gig workers.
- Progressive features an easy, online, and no-obligation quote system that is not common among major auto insurance providers.
- The company provides one of the largest lists of discounts, which can get you the lowest premium available.
- The Name-Your-Price tool allows you to build a policy around the premium you can afford to pay.
Thanks to its Progressive advertising campaign, Progressive is one of the best-known and most popular auto insurance companies. But there are many reasons for choosing Progressives beyond commercials. They have become one of the largest auto insurance companies in America thanks to a combination of generous discounts, customer-friendly coverage options, and some of the lowest premiums in the industry.
After reading this review, you will understand why Progressive must be on your short list of choices for your next auto insurance policy.
Company information
Progressive is the third largest auto insurance provider, based on written direct premiums, with 13.3% of all auto insurance in effect in the US, following only State Farm and Geico. The company has more than 18 million customers nationwide, with over $ 33 billion in written direct premiums.
It’s easy to see why. The company is one of the cheapest suppliers in most states, largely due to the many discounts they provide. They also offer important niche products, such as rideshare coverage, which reflect the changing needs of their customer base.
Progressive’s main product is auto insurance, although it offers home insurance and various other insurance and non-insurance services. In this review, we will focus on progressive auto insurance.
Progressive products and services
Although Progressive is best known for auto insurance – their main product – they also offer other services. The most important among these is home insurance, but they also have a wide range of other products and services.
We will only briefly mention other products and services offered.
Progressive auto insurance
Progressive is one of the cheapest providers in most states, providing the lowest premiums in approximately 10 states.
The basic features of progressive auto insurance are as follows:
- Availability: All 50 states, plus the District of Columbia
- Covered Vehicles: Cars, classic cars, motorcycles, Segways, snowmobiles, boats, recreational vehicles, ATVs / UTVs, and golf carts
- Customer support: 24/7 by phone
- Claims Satisfaction: According to the 2020 JD Power U.S. Automotive Claims Satisfaction Study (released October 2020), Progressive ranks 21st out of 24 auto insurance companies nationwide. They score 856 points out of a potential of 1,000 points, which is below the industry average of 872.
- Financial strength assessment: A + (Superior)
- Better Business Bureau ranking: A + (on a scale of A + to F)
How to sign up for progressive auto insurance
The application process can be completed entirely online, although it can also be done over the phone.
One of the features of the Progressive application process that we really appreciate is the ability to get quotes online. By entering basic information, we were able to get quotes for various driver profiles without having to enter sensitive information such as a social security number or phone number.
This is an important feature because some auto insurance companies only ask for basic information, but then only provide quotes by contacting you, by phone or by email. The progressive experience allows you to purchase a policy without running into repeated sales pressure or contact that you may not want.
Unique features
While it is common for consumers to shop for the auto insurance provider with the lowest premium, there are several characteristics that set Progressive apart from the competition:
- A large number of discounts. Progressive offers one of the widest ranges of discounts in the auto insurance industry and advertises an average savings of $ 700 per year.
- Name your pricing instrument. You can build a policy based on the premium amount you can afford to pay. This is an excellent plus for anyone on a tight budget.
- They lose both big and small accidents. Premiums will not increase for claims below $ 500. Additionally, if you have been free of accidents and violations for at least three years and have been a progressive customer for at least five years, your rate will not increase after a major accident. This is one of the most flexible accident forgiveness programs in the industry.
- Rideshare coverage. This is a major add-on, with so many people now working in the gig economy.