Progressive auto insurance is one of the most popular and widely used insurance brands in the United States. The company accounts for 9 percent of all the auto insurance premiums written in the U.S. and claims to be the number one supplier of insurance for motorcycles and RVs in the country. On average, Progressive writes more than 13 million auto policies each year.
Progressive is most well known for its innovation in the personal auto insurance market but is also known for its commercial auto policies and insurance, such as homeowners.
How Progressive Auto Insurance Started
According to Insurance Business America, Progressive was established in 1937 by Jack Green and Joesph Lewis. The pair started Progressive Mutual Insurance Company to bring protection to vehicle owners. As legal professionals, the two men decided investing in an insurance company would be wise. Their hunch paid off, as the company continued to grow over the next 80 years.
In the 1960s, the company saw its first major expansion and formed The Progressive Corporation. Peter Lewis served as the company's CEO for 35 years until he passed the torch to Glenn Renwick in 2000. Renwick was succeeded by Tricia Griffin in 2016, who remains the CEO today.
Progressive's Products and Services
While Progressive is best known for its auto policies, the company also offers various personal and commercial policies. NerdWallet lists several policy types offered by Progressive, including:
- Car insurance
- Boat insurance
- Pet insurance
- Condo insurance
- Home insurance
- RV insurance
- Renters' insurance
- Motorcycle insurance
- Commercial insurance
Progressive also offers an impressive array of bundled options.
Who Is Flo?
When you hear the name Progressive, you are likely to think about one of the company's most iconic spokespeople: Flo. Created in 2008, Flo is a fictional salesperson for Progressive who has made an appearance in more than 100 television commercials. She is known for her bubbly personality, helpful attitude, and enthusiasm for selling insurance. Her heavy makeup and retro hairstyle have made her an iconic figure on almost every social media outlet.
Available Progressive Discounts
Money Geek lists many available discounts with Progressive Auto Insurance available to customers to help them get the lowest insurance price. The discounts that Progressive offers on various policies include:
- Start your quote online: This discount can be added when you start an insurance quote online before finalizing it over the phone.
- Safe driver: This will be applied after three years with the company without a ticket or accident.
- Multi-car: If you insure multiple vehicles with the company, you will receive policy discounts.
- Homeowner: Owning a home will get you a discount even if your homeowner's coverage is not through Progressive.
- Continuous insurance: If you have no gaps or cancellations in your insurance coverage history, a discount will be applied.
- Sign documents online: Completing your policy sign up by signing your documents online while again you this discount.
- Pay in full: You will get a discount for paying the entire premium for your policy period at once, instead of paying month-to-month.
- Automatic bill pay: If you choose to have your bill automatically paid each month, this discount will apply.
- Good student: If you have a student driver on your policy and they maintain a B average or higher, you will receive this discount. This discount will also apply if you have a child away at college.
- Teen driver: Adding a driver under the age of 18 to your policy is another discount.
- Bundled auto and property: Bundling your auto and homeowners insurance policies will gain you an additional discount.
According to Car and Driver, one of the easiest ways to lower your insurance premium is by taking advantage of offered discounts.
Progressive Snapshot
One product that Progressive markets heavily to their customers is Snapshot. This product is listed among ValuePenguin's pros for choosing Progressive, as it can reward good driving habits. The product consists of a device or a mobile app that can track your driving. Snapshot can be added at any time.
When you sign up for Snapshot, you will download the app to your smartphone or plug the device into your diagnostic port. It will record and track a variety of information, such as:
- Speed
- Braking
- Mileage
- Other driving habits
If you practice safe driving habits, you will see an additional discount on your premium. Consistent unsafe driving can cause your rates to increase and classify you as an unsafe driver. However, increases are less common, with only two out of 10 drivers seeing a premium increase. Signing up will get you an average discount of $25. Completing the program will gain you around a $130 discount, as stated in US News.
Advantages of Progressive Insurance
There are many pros to signing up for Progressive Insurance. One of the strongest benefits is the numerous discounts available. Another advantage is the online quote tool, which offers several ways to get a policy quote. Their online tool also lets you know whether comprehensive coverage would benefit you if you have an older car.
Overall, Progressive is known for coming up with affordable prices. It is growing and expanding while adding new products and services that its customers can utilize.
Different Auto Insurance Coverage Options
In addition to the traditional auto coverages you can expect to get with any auto insurance policy, Progressive Auto Insurance offers many other coverages to provide added protection. Some of the unique coverages that its policies include are:
- Pet Injury: If your pet is injured in a car accident, Progressive will help pay for veterinarian bills related to the injuries.
- Custom Parts & Equipment Value: Progressive provides an additional $1,000 worth of coverage for aftermarket parts or accessories damaged in a vehicle accident. This can include stereos, custom grills, or even navigation systems.
- Gap Insurance: Gap insurance is designed to cover the amount of money you owe on your vehicle's loan or lease. If insurance totals your car and you owe more money than your vehicle is worth, you would have to come up with the difference to satisfy the loan, unless you have gap insurance. Gap insurance will pay you up to 25% over the car's actual cash value to help you satisfy your lenders.
- Deductible savings bank: If you are insured with both collision and comprehensive coverage, you can choose to participate in a program that will reduce your deductible by $50 for each six-month period that you are claim-free.
Progressive Auto insurance is becoming a popular option for vehicle owners and those looking to be insured in other areas. Their wide range of policies, available discounts, and included coverages can provide the security and protection drivers are looking for at a price they can afford.
Resources:
https://www.insurancebusinessmag.com/us/companies/progressive-insurance/115985/
https://www.valuepenguin.com/progressive-insurance-review
https://www.nerdwallet.com/blog/insurance/reviews/progressive-auto-insurance-review/
https://cars.usnews.com/cars-trucks/car-insurance/progressive-car-insurance-review
https://www.moneygeek.com/insurance/auto/reviews/progressive/
