Progressive Group Insurance Company is undoubtedly very popular in the United States. The insurance company claims to be the third-largest automobile insurance company and the first for specialty RV/motorcycles in the States.
When it comes to standards, you can only compare Progressive Insurance to firms like GEICO, Allstate, Farmers Insurance Group, and the State Farm.
Progressive Insurance is responsible for writing over thirteen million auto policies every year.
Progressive Insurance is best known for its innovative approach in the personal automobile market. However, progressive insurance also writes commercial automobile and other kinds of personal risk insurance.
For example, progressive also write homeowner’s insurance. The company writes its insurance policy across the United States using over 30,000 autonomous agencies.
While there are numerous Progressive Insurance reviews available online, the question is, is progressive insurance legit or a scam? Read to the end to decide for yourself.
Table of contents
- Progressive Insurance Over the Years
- How Progressive Insurance Works
- Progressive Insurance Automobile Coverage
- Other Optional Insurance Features and Coverage Available at Progressive Insurance
- Other Available Products
- Progressive Insurance Discounts
- Progressive Auto Insurance Reviews
- Progressive Home Insurance Reviews
- Progressive Insurance Pros and Cons
- Verdict
- References
Progressive Insurance Over the Years
Progressive Insurance Company was a brainchild of Joseph Lewis and Jack Green and began operation in 1937 (10th of March) as Progressive Mutual Insurance Company. The target of the company was to ensure that vehicle owners enjoy security and protection.
In 1956 the company become reputable for insuring drivers with the most risks. The company crossed a $20 billion benchmark in 2016 and has remained progressively innovative in the industry. In other words, the company lives up to its name.
The company claims to be the first insurance company to own a website, thereby allowing customers to buy policies online. Fast-forward to the present day, the company is part of the pioneers for the use of mobile phone browsers and Mobile Apps for managing and rating Insurance policies. They are the first to allow installment payments for premiums instead of annual payments.
Progressive Insurance is also the first when it comes to hours reporting of claims.
The insurance company has continued to grow over the years to incorporate several other services. With progressive growth in the 1950s, the company opened up new offices in Downtown Cleveland.
With the death of co-founder Joseph Lewis in 1955, Green became the CEO, while Peter Lewis, the son of late Joseph began a career with the firm.
One of the missions of the company at the time was to find better ways to set the company apart from the others in the industry. In 1956, the company set up Progressive Casualty Company, which was in charge of writing auto insurance for high-risk drivers.
1960s the company saw a further expansion that gave birth to the Progressive Corporation in 1965.
In the same year, Perter Lewis rose to the position of CEO till 2000 (35-year duration) when Glenn Renwick took over.2016, Tricia Griffith became the new CEO after Renwick.
Read: Kin Insurance Reviews In 2023
How Progressive Insurance Works
There are three operational sections to Progressive Insurance company:
- The Personal Lines
- The Commercial Auto
- Other-indemnity
The Personal Line Section
Under the personal line, the company provides coverage for private passenger automobiles, recreational vehicles, boats, and motorcycles via a direct and independent agency channel.
The Commercial Auto Section
The commercial Auto line provides insurance for primary liability and damage to vehicles and trucks belonging to businesses via an independent agency channel.
The Other-indemnity Section
The other-indemnity section provides insurance coverage for directors, professional liability coverage for community banks and officers.
Progressive insurance also provides insurance-related services with a primary focus on policy insurance and claims to adjust services for Commercial Auto Insurance Plans across 25 states.
In 2011, Fortune 500 listed the company at number 164.
Progressive Insurance Automobile Coverage
Progressive Insurance provides full coverage insurance for cars.
Its services also cover state-authorized car insurance and other necessary insurance options. they also provide insurance coverage for other alternative options.
Progressive Insurance provides customers the option to either select and create a plan or simply key in their budget and get a tailored insurance plan according to their budget. Progressive Insurance plans include:
Collision Cover
Under this plan, Progressive Insurance pays for the repair of the customer’s vehicle after a collision. The collision coverage also comes with pet insurance.
Personal Injury Protection
Under the personal injury protection plan, Progressive Insurance pays the customer’s medical bills after an injury and also reimburses the customer for non-medical expenditures, e.g. lost salaries.
Read: CIGNA DENTAL INSURANCE REVIEW 2023
Liability
There are several policies covered under the liability coverage like property damage, and injury to the body.
Uninsured
There are many options available at Progressive Insurance for uninsured or underinsured motorists.
Other Optional Insurance Features and Coverage Available at Progressive Insurance
There are several optional coverages and features available at Progressive Insurance that motorists can use to enhance their insurance policy. An example is the rideshare insurance cover that progressive provides in some states. Other optional insurance covers include:
Accident Forgiveness
Under this coverage, accident claims under $500 will not affect the customer’s premiums. Also, customers with over five years’ tenure with no accident records for three years do not have to worry about large accident claims.
Rental Reimbursement
Provides funds for car rental when an insured vehicle is under maintenance.
Roadside Assistance
There is various roadside assistance available under this cover like car towing and roadside labor. Customers have the option to activate roadside assistance via the Progressive Insurance Mobile App.
Gap Cover
For insured vehicles, that are used to cover a lease or loan, Progressive Insurance, under the gap cover can pay up to 25% of the actual monetary worth of the car.
Other Available Products
Besides auto and motorist’s insurance, Progressive insurance also offers other types of insurance products. They include homeowners and tenants/renters cover, health insurance, and insurance of recreational vehicles.
Customers can apply for these options as a bundle to help them save money and cut down on the rates.
Homeowners Insurance
Homeowners’ insurance includes loss of coverage, dwelling insurance, liability insurance, and others.
Customers can also include coverage for other arrangements, medical rates insurance, and insurance for the legal cost (optional).
Tenant/Renters Insurance
The renter’s insurance includes personal liability cover, personal property protection, and loss of use of coverage.
The improved version of the insurance policy includes personal injury coverage for a little additional charge.
Life Insurance
Progressive Insurance also writes a life insurance policy that provides the customer’s loved one with a death benefit.
Classic Car Insurance Policy
The classic car insurance policy covers exotic cars, classic cars, and sports cars valued over one hundred and fifty thousand dollars.
Recreation Vehicle (RV) Insurance
RV insurance covers different types of recreational vehicles like Segway, golf carts, RVs, trailers, snowmobiles, etc.
Progressive Insurance Discounts
One thing Progressive Insurance is known for is offering various types of discounts to its customers. There are several special discounts available that can help you cut down your premiums.
A good example is the Snapshots program. The program is designed to track the driver’s behavior for six months.
Safe drivers enjoy special discounts. Other types of discount programs available from Progressive insurance are:
Good Student’s Discount
College and high school students that score good grades may be qualified for a discount on their next insurance.
Multi-Vehicle
Insuring two or more vehicles at the same time with progressive can earn you up to a 12% discount.
AutoPay
One other way Progressive Insurance rewards its regular paying clients is by offering them discounts when they activate AutoPay on their insurance.
Progressive Auto Insurance Reviews
According to Progressive auto insurance reviews, customers’ satisfaction rating is average.
NerdWallet gives the company a 4.5-star rating out of 5 for general performance. Some of the factors that give the company an edge over the other insurance companies include their pricing and discounts, their financial power, ease of filing claims, and complaint data from the National Association of Insurance Commissioners.
Another website monegeek.com, gives Progressive Insurance an overall score of 88 out of 1000, a customer satisfaction rate of 3/5, a discount rate of 5/5, and a stability rate of 4.5/5.
When compared to the size of the company, the scorings are good and the company gets fewer complaints than the other companies. The company also offers a variety of useful tools for clients that are tech-inclined.
Read: Travelers Insurance Reviews 2023
Progressive Home Insurance Reviews
Besides auto insurance, progressive also offers home insurance cover. However, according to Progressive Insurance reviews, the company only acts as an agency, linking up customers and available home insurers.
The company you are matched with depends on your means of purchase. Some of its home Insurance affiliates include companies like National General Insurance and American Strategic Insurance Corp (ASI).
You can request a quote and make payments for your chosen policy using the three following channels:
- Online through the official website
- Through a local agent/agent portal
- Through a phone call
However, it is essential to understand that your insurance policy will come from a third-party company and not Progressive. Your claims will also go to the third-party company that insures your home and not Progressive.
Progressive can connect customers to insurers in all states except Hawaii and Alaska. While you can make adjustments and enhance your policy, there are standard coverages that come with your home insurance.
They include:
| Coverage | Purpose |
| Apartment | Provides payment for home repair or renovation |
| Other Structures | Coverage for additional structures that are not attached to the home e.g. fence and home shed |
| Individual property | Provides payment for the replacement or repair of private belongings like furniture, clothing, etc. |
| Added Living Expenditures | In case your home needs a cover repair and you need to stay somewhere (e.g. hotel) during the period, this policy takes care of living expenses, feedings, and other expenses that may occur during the period. |
| Liability | In case you are responsible for inflicting injuries on other people or damaging their property, this policy takes care of the bills. |
| Medical Expenses | When a guest in your home sustains an injury (regardless of whose fault), this insurance covers their payment. |
Depending on your insurer and location, you may be able to access extra services like:
- Water back-up insurance
- Personal injury insurance
- Extended home replacement insurance
- Extra valuables insurance
Progressive Insurance Pros and Cons
Pros
- Progressive Insurance allows customers who own different policies with them (e.g. home and auto) to bundle them up together and enjoy multi-policy discounts.
- The company is innovative and tech-driven with an elaborate website that provides detailed quotes and calculations for your home cost. They also provide chat apps and other tools on their website that helps to handle customer’s query.
- Collision coverage also provides you with pet injury protection.
- Customers enjoy rideshare coverage anytime they have their App on.
Cons
- According to J.D. Power 2019, customer satisfaction is just average
- Coverage cost and the discount you enjoy can vary for different states
- A bit more expensive than other competitors
- Customers can’t file a home claim through progressive
- It does not underwrite its policy when it comes to home insurance. Rather, it plays the role of a middle man between the customer and the insurer
Read: Bright Health Insurance Review In 2023
Verdict
According to various Progressive insurance reviews, the company is well established and legit. With offices across different states and with over 84 years of operation, it is not a company with skeletons in its cupboard. The company has grown over the years to offer a variety of insurance policies that covers different areas that appeal to more clients.
higherHowever, if you are looking for customer satisfaction and lower premium costs, you might want to look elsewhere. Progressive comes at a price that is a bit higher than other competitors in the industry. Not typical for any other insurance company selling affiliate policy, it is the only company that allows its customers to choose their insurer.
Progressive also allows customers to enjoy discounts through bundle purchase of policy.
References
Recommendations
