Progressive is one of the largest automobile insurance providers in the United States. You’ve likely seen their advertisements (with a very lively character named Flo) and have possibly heard about their “Name Your Price” promotion. Progressive provides insurance for all kinds of automobiles including RVs and motorcycles, but also offers coverage for boats, commercial vehicles, and homes. This Mayfield Village, Ohio company has been around since 1937 and claims to be the first insurance company to offer a drive-in option that allowed agents to check claims. They were also the first to utilize the internet by giving consumers the option of managing their insurance online. They also were the first to develop and offer apps for more accessibility.
Our Rating
Pros
Reduced costs for high-risk drivers
Rental car reimbursement included
Low monthly premiums
Satisfaction Rating
Claims Rating
Shopping Rating
Offerings Rating
Stability Rating
What does Progressive offer in their coverage?
Progressive was the first company to offer a reduced cost for drivers that were considered low-risk. Their motto is “We are Progressive, and we are progressive.” So what exactly do they cover?
Liability: If you’re responsible for the collision, Progressive will cover the damages caused, including the other party’s damages and injuries. It also covers property that was damaged, such as houses, signs, posts, etc. You won’t have to pay a deductible for liability.
Comprehensive and Collision:Comprehensive coverage includes natural occurrences or disasters that are out of your control, such as hail damage, windshield damage, and theft. Collision damage covers car accidents and it doesn’t necessarily mean damage done with another car. For instance, hitting a mailbox or safety gate could be covered. Progressive will pay for repairs minus your deductible.
Coverage for bodily injuries and vehicle damage sustained when involved in a collision caused by another driver. If the driver’s insurance isn’t paying enough or they don’t have insurance at all, Progressive will cover the costs.
Medical Bills: Progressive will pay for the medical costs associated with the collision, regardless of who was at fault. There is no deductible to pay out either.
Rental Car Fee Reimbursement: If your car was involved in a collision, you can expect to have the option of getting a rental car while your vehicle is being repaired. Progressive will pay for the rental car, up to certain limits.
Loan or Lease Payoff: If your new car is involved in a major collision and is totaled, Progressive will help pay off the balance of the loan you’re paying for your new vehicle instead of having you continue to pay for the defunct vehicle and the costs of new transportation. This is also a version of GAP insurance.
Progressive guarantees repairs on vehicles: If you need a repair, you can take your vehicle to one of their pre-approved sites to get serviced. Progressive will guarantee that repair for as long as you own or lease your vehicle.
Roadside Assistance: Coverage at no extra cost if your car breaks down, you get locked out, have a flat tire, etc.
Pet Injury Coverage: If your pet gets injured during the collision, they will cover the costs for vet bills.
Coverage for Damaged Parts: If any of your extras in your vehicle get damaged, such as your stereo, GPS systems, spoilers, etc., they will be covered.
Name Your Price: This handy tool allows you the ability to create a policy that fits your budget and needs.
Snapshot program: Progressive offers the ability to receive reductions on your insurance by placing a temporary small device on your vehicle that tracks your driving. It monitors things like braking and acceleration habits, when you drive, and for how long you are in your vehicle for a certain period of time. If your results are favorable, you may qualify for a discount.
Accident Forgiveness: If you are involved in a collision, your rates won’t go up if you are at fault.
How satisfied are customers?
Progressive is ranked average, according to a JD Power survey. There were several factors considered including:
First Notice of Loss: This is in regards to the initial process with how Progressive handled the claim.
Claim Servicing: Rating how the claim was handled.
Estimation Process: How Progressive calculated the damages and fees.
Repair Process: How quickly, effective, and helpful the repair process was.
Settlement: How policyholders perceived the fairness of their settlement.
All of the above scored a 3 out of 5. The only criteria that scored higher was the Rental Experience, which earned Progressive a 4 out of 5.
Progressive was given a moderate rating with a 3 out of 5 for Overall Satisfaction from consumers in this 2017 survey.
Overall Satisfaction Rating
Progressive was given a moderate rating with a 3 out of 5 for Overall Satisfaction from consumers in this 2017 survey.
First Notice of Loss Rating
Rating how the claim was handled.
Estimation Process Rating
How Progressive calculated the damages and fees.
Repair Process Rating
How quickly, effective, and helpful the repair process was.
Settlement Rating
How policyholders perceived the fairness of their settlement.
Rental Experience
How fair consumers felt the settlement was in regards to their case.
What is Progressive’s claims process like?
Progressive’s process is similar to other insurance companies. The steps to be taken include:
Reporting the claim. This can be done online or by phone. An agent will contact you by the end of the day to get more information from you and schedule an inspection. It is recommended that you speak to the agent about what will be covered during this process.
Inspection. Progressive agents will inspect and give an estimate for repairs.
Repairs. An agent will contact a towing company if needed. They will recommend using shops that have been pre-approved but if you have a specific repair center in mind, they may charge you extra.
Rental vehicle. If you need a rental, an agent can arrange for this. However, this is dependent on your claim.
Check your claim. You can follow the status of the claim online.
Progressive offers a Concierge Service which allows policyholders the ability to drop off their car at one of the nearby Progressive designated centers and pick it up at the same place without needing to make trips to repair shops.
How stable is Progressive?
Progressive, on average, is lower priced compared to their competitors. While the price may be low, be aware that the coverage may cost you more overall should something unfortunate occur. Progressive does do a good job of informing you of what your options are, however consider various factors such as weather, traffic conditions, and your intents and purposes in order to develop the best option. You also may have a higher deductible that balances the cost of the low coverage. Prices will obviously vary from place to place and knowing what you may be giving up in order to get a lower price is the wisest way to shop.
How valuable is it compared to the price?
Progressive, on average, is lower priced compared to their competitors. While the price may be low, be aware that the coverage may cost you more overall should something unfortunate occur. Progressive does do a good job of informing you of what your options are, however consider various factors such as weather, traffic conditions, and your intents and purposes in order to develop the best option. You also may have a higher deductible that balances the cost of the low coverage. Prices will obviously vary from place to place and knowing what you may be giving up in order to get a lower price is the wisest way to shop.
Who is this best for?
Aside from developing innovative and convenient ways for consumers to contact insurers, Progressive also was the first automobile insurance company to offer Pet Injury coverage which protects pets that are injured in a crash. This comes with the policyholder’s collision coverage.
Progressive is great for people who are new to buying automobile insurance and/or people who are on a strict budget. The Name Your Price tool is an excellent way to build your policy and see what kinds of costs you should expect.
They also offer a simple quote process that allows you to make a decision on a policy in only a few minutes. They’ll ask a series of questions that will help determine what’s best for you. If you want to add to your coverage, it will tell you what costs you can expect so you can plan accordingly. Drivers who have accidents on their records were able to find reasonable prices through Progressive.
Also if you’re a Lyft or Uber driver, you can get coverage for any accidents that happen while you’re on the job.
What should you look out for?
Progressive offers quite a few incentives but there’s a few things to be aware of. For one, their GAP insurance offer only covers up to 25% of the cash value that is still owed. Also, Progressive doesn’t offer as many discounts that come with other companies such as reductions for having safety features on your vehicle. The Name Your Price tool is good in theory but it must be fair and comparable to other insurance policies. Another tool that they use, the Snapshot tool, has reportedly been used to raise premiums and fees for drivers. As innovative as this tool is, this could get costly for drivers.
Conclusion
Progressive is full of incentives and innovation with lower prices and the transparency of their policies. However, their customer service and payability on claims is lacking and depending on what your plans for your vehicle are, the environment you drive in, and how often or far you intend to drive, this could be non-negotiable. Like with most other major decisions, having key things in mind and going from there when determining what’s best will help you find the most bang for your buck.
