Personal Finance Retail Banking Investments Credit Cards Life Insurance Car Insurance Newswire
Car Insurance

Progressive Car Insurance Review

By David Krug 5 minute read

Customers are drawn to the firm by the low prices and extensive assortment of items. Progressive is the third largest automobile insurer in the United States, with around 13% of the market. Progressive had a greater customer base than USAA, Farmers, and Nationwide Insurance, which combined collected over $33 billion in direct premiums. There are various explanations behind Progressive’s popularity. Consider this Progressive Car Insurance Review to help you decide.

Progressive Insurance Pros and Cons

Pros

Progressive Car Insurance Review - Progressive Insurance Company Logo
  • Insurance policies can be customized to meet the unique needs of each customer.
  • This organization caters to motorists who wish to purchase many insurance policies concurrently.
  • Customers that satisfy specific criteria may qualify for a range of Progressive discounts.

Cons

  • Progressive does not provide any unique home insurance enrollment discounts.
  • When it comes to homeowners insurance, there are few alternatives.

Progressive car insurance review

  • Claims satisfaction (J.D. Power) — Progressive Insurance scored only low ratings in the most recent J.D. Power claims satisfaction survey, despite its higher-than-average position in this year’s JD Power Ratings.
  • Customer satisfaction (J.D. Power) –Underwhelming. According to J.D. Power, Progressive’s vehicle insurance customer satisfaction is much lower than the industry average.
  • Financial StrengthAM Best of all, this is the optimal time of day for you. The ability of Progressive to pay claims is rated “Excellent” by Best’s financial strength rating methodology.
  • NAIC Rating – Good. Progressive consumers lodged many complaints with the NAIC in 2020.

Progressive car insurance coverage options

Progressive offers uninsured motorist, collision, and comprehensive coverage as an alternative to homeowner’s or automobile insurance. Progressive’s insurance prices, changeable features, and additional perks are all available for comparison.

  • Progressive name your price tool. Progressive’s “name your price” option accomplishes exactly what it claims it will. Progressive presents all of the insurance alternatives accessible to you once you input a price.
  • Forgiveness for minor accidents. A $500 deductible ensures that your insurance premiums will not increase in the event of a claim.
  • Significant accident forgiveness. You must not have been involved in an accident within the past three years and have been a Progressive customer for at least five years to qualify for this program. If you’re involved in an accident, you won’t have to worry about your rates increasing because Progressive’s no-fault accident coverage is extensive.
  • Service for roadside help. Wherever you are on the road, Progressive’s roadside help delivers lockout assistance, fuel delivery, flat tire repair, and battery charging.
  • Repayment of a loan or lease. Consider this insurance if you’re considering financing or leasing a vehicle. Progressive’s loan/lease repayment structure is comparable to that of gap insurance. Even if the car’s current value is greater than the loan or lease payment, the loan/lease repayment may assist cover the difference (up to 25 percent ).
  • Plan for reimbursement of rental cars. Progressive will pay the cost of a rental car if your vehicle is totaled in an accident and cannot be repaired. The terms of your automotive rental insurance coverage will be included in your policy papers. Medical insurance is typically between $30 and $50 per day in the majority of cases.
  • Insurance coverage for custom components and equipment. Additional insurance coverage for a GPS system, specific wheels, or a radio in your car may be required, which you should consider obtaining. It is possible to preserve items that were not included in the first purchase.
  • Insurance coverage for ridesharing services. Due to the fact that Uber and Lyft provide a restricted number of insurance options, drivers who are awaiting a trip request may lack proper coverage. Progressive ridesharing insurance provides extensive coverage (liability, comprehensiveness, collision). Your insurance coverage will begin as soon as you place an order for a ride. These types of low-cost insurance policies are easily accessible.
  • Savings banks that are tax deductible. This type of insurance protects you regardless of how much you pay in premiums, similar to having no deductible. For every six-month period without a collision, you’ll save $50 on your collision and comprehensive deductibles. You may maintain your $50 savings until your deductible is completely depleted.

Progressive auto insurance discounts 

Certain limits and state availability have an effect on the amount of money saved on insurance. If you’re looking for methods to save money on your monthly car insurance premiums, consider these Progressive insurance discounts. Conduct some research to discover the various automobile insurance savings available.

Discounts based on the driver or vehicle: 

  • Safe driving discount. Drivers with no claims and no tickets pay 31% less for vehicle insurance. To be eligible, applicants must have been accident- and infraction-free for the preceding three years.
  • Discount for several vehicles. Because progressive clients frequently own several vehicles, they provide a 10% discount. If an insurance policy covers a vehicle, it must be parked in the designated location.
  • Excellent student discount. Students with a minimum grade point average of 3.0 are eligible for the student discount.
  • Discount for students away from school. Student discounts are also available to students under the age of 22 who live more than 100 miles from their parents’ home.
  • Coverage is continuous. Safe drivers, according to the insurance industry, have a history of making insurance claims. The longer you have been a Progressive customer, the higher your savings.
  • Discount for homeowners. Customers who own their own home receive a 10% discount. There are fewer automobile insurance claims filed against homeowners, which results in a lower cost of coverage. This discount is accessible to everyone who owns a home, regardless of whether they have Progressive homeowner’s insurance or not.

Discounts based on policy:

  • Multi-policy discount. If you combine your vehicle insurance with another policy, you may qualify for a multi-policy discount. Bundling auto insurance with another Progressive product may save clients an average of 5%.
  • Register online. Progressive provides an 8% discount on vehicle insurance for online application completion.
  • Quotes are available online. Progressive Insurance is now giving a 7% discount to clients who request quotes online. Any service provider, whether online or offline, can issue a quote for your job.
  • Paperless. You may qualify for a discount if you sign up for email-based policy updates. Regrettably, this price decrease does not qualify for Progressive’s ongoing discount program.
  • Pay at the full discounted rate. If you make all of your insurance payments on time, you may qualify for a discount.
  • Payments are made automatically. If you pay your Progressive insurance premiums automatically from your bank account, you’ll save money.

Progressive bundling options

If you combine your vehicle insurance with another policy, you may qualify for a multi-policy discount. Progressive Insurance offers a comprehensive selection of coverage options that may be coupled with auto and home insurance.

David Krug

Author