Progressive Insurance – An Overview

Progressive is one of America’s largest and best-known car insurance companies. Founded in 1937, Progressive sells insurance for cars, motorcycles, boats, RVs, and commercial vehicles in every state in America. The publicly-listed company grew to earn $30 billion of revenue in 2018 while employing more than 35,000 people across the country. Progressive is the third largest insurance company in the United States.

progressive auto insurance review

Progressive History

Progressive, formally known as The Progressive Corporation, was founded in 1937 as Progressive Insurance Company. In 1956, the company began to specialize in insuring high-risk drivers.

Today, the company is headquartered in Mayfield Village, Ohio, just outside of Cleveland. It’s not only one of America’s largest insurance companies: it’s also one of the country’s largest companies overall, currently sitting at number 99 on the Fortune 500 list.

Over the years, Progressive has sought to differentiate itself from the competition by being, well, ‘progressive’. Progressive claims to be the first insurance company to have a website, for example, and the first to allow customers to purchase policies through that website. Progressive was also one of the first major insurance companies with a well-functioning mobile app. When other insurance companies only allowed claims reporting during normal business hours, Progressive became the first company to offer 24/7 claims reporting.

Today, Progressive focuses mostly on car insurance. However, the company offers home insurance, life insurance, and renters insurance through certain companies. Progressive is also technically an international company: they now sell car insurance in Australia.

Progressive Insurance Rankings

Progressive has average rankings and reviews. It’s not among the worst-rated insurance companies in America, but it’s also not among the best either.

Here’s how Progressive performed in the latest J.D. Power rankings:

Insurance Shopping (Auto): About average

Auto Insurance Claims Satisfaction: About average

Progressive did, however, earn a very good rating from A.M. Best, which analyzes the financial strength of insurance companies. Progressive earned an “A+” or “Superior” rating from A.M. Best in the latest rankings, indicating that Progressive should have no trouble covering its liabilities. Many other major insurance companies only earned an “A-”- rating.

Progressive had fewer complaints to state regulators than insurance companies of a similar size.

What Makes Progressive Insurance Unique?

Progressive has generally tried to stay Progressive throughout its history. Some of the things making Progressive unique include:

Name Your Price Tool: Progressive’s Name Your Price tool lets you type in your preferred rate and then receive a range of coverage options fitting that budget.

Price Compare Tool: Progressive makes it easy to compare car insurance rates against other major insurance companies – something few other insurance companies do.

Good Website and Mobile App: Progressive was the first insurance company to have a website and sell car insurance through that website. Progressive was also one of the first to offer claims management and policy tracking through their mobile app.

24/7 Claims Reporting: 24/7 claims reporting is now standard across the insurance industry. Progressive, however, claims to be the first company to offer 24/7 claims reporting.

Insure Multiple Types of Vehicles: Progressive offers insurance for ordinary vehicles along with RVs, boats, trailers, ATVs, snowmobiles, and more.

Available Nationwide: Progressive offers car insurance in all 50 states.

Multi-Policy Discounts: You can save 5% on average by bundling two or more insurance policies with Progressive.

Multi-Car Discounts: Save 10% on average by bundling two or more vehicles with Progressive.

Is Progressive a Good Insurance Company? Our Review

Progressive is one of America’s largest insurance companies. Only two companies in the country insure more drivers than Progressive.

As with other large insurance companies, your experience with Progressive will vary. Some people have a good experience with the company: they pay a low price for car insurance and appreciate the easy online experience.

Others, however, have mixed experiences with Progressive. You can find plenty of complaints online about Progressive’s customer service, for example. Some people have had a bad claims satisfaction experience with Progressive.

One thing that’s easy to appreciate about Progressive, however, is its Name Your Price and comparison tools. Tell Progressive the price you want to pay for car insurance, and they’ll tell you what you can get for that price. You can also see the premiums charged by other insurance providers in your area. Sometimes, Progressive is the cheapest option – but not always. It’s a level of honesty and transparency you don’t see from other insurers.

Overall, Progressive offers good-value car insurance across the United States. The car insurance can be customized to meet your needs and budget. You can access plenty of discounts – similar to the discounts offered by other major insurance companies.

Progressive Auto Insurance Policies and Products

As America’s third largest insurance company, Progressive offers a range of standard car insurance options. Some of the policies and unique insurance products offered by Progressive include:

Snapshot Program: Progressive’s telematics driver tracking program is called Snapshot. The company claims drivers can save $130 on average using Snapshot. You can download the tracker using the Progressive mobile app or install a plug-in device into your vehicle. The safer you drive, the more money you’ll save.

Safe Driver Discounts: If you drive accident-free for three years, then you’ll save 30% on car insurance.

Discounts for Doing Everything Online: Progressive offers an 8% discount when signing your documents online, along with a 7% discount for starting a quote and completing it online.

Good Grades and Away at College Discounts: Progressive offers a discount for high school and college students who maintain a ‘B’ average or better. A discount is also available for those with a college student on your policy who lives more than 100 miles away and is 22 years old or younger.

Deductible Savings Bank: You can opt into a program that reduces your deductible by $50 for every six months you’re claim-free, all the way down to a $0 deductible.

Rideshare Insurance: Progressive offers rideshare insurance in 32 states, allowing Uber and Lyft drivers to stay protected at all times.

Final Word

Progressive is America’s third largest insurance company. It offers a standard range of discounts and policies. Generally, prices are very competitive compared to other insurance providers. Progressive also makes it easy to customize your policy to match your needs and budget. You can add or remove policies as needed, for example. Progressive is also known for its Name Your Price tool.

Overall, Progressive has average ratings for customer service and claims satisfaction. Depending on your needs and budget, however, Progressive may be the right choice for you.

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