Progressive Corporation (Progressive) is one of the largest car insurance companies in the United States. Found by Jack Green and Joe Lewis in 1937, Progressive concentrates its business primarily on car insurance policies. Progressive does, however, also insure boats, RVs, motorcycles, ATVs, commercial vehicles and more. Progressive is a publicly traded company with over 10 million insurance policies in force, 450 offices throughout the US and over $14 billion in assets. According to its balance sheet, Progressive is a financially secure insurance company with excellent financial strength as rated by several independent assessment companies.
Progressive is known for providing competitor car insurance quotes along with its own auto insurance quote. It was also the first major auto insurer to offer car insurance policies over the phone and through its web site. Progressive launched a very successful advertising campaign featuring “Flo”. Here is an example of a progressive auto insurance commercial featuring Flo.
In an effort to determine how these companies rate from a pricing perspective, we created three different driver profiles and acquired six different quotes. Each profile was for a single male with a clean driving record, driving a 2005 Audi Quattro. The profiles differed in age range: there was a 29-year-old, a 37-year-old and a 65-year-old. We then obtained quotes for two different cities: San Francisco, CA and Springfield, IL. Progressive fared as “average” in our tests, providing prices that were very similar to other companies. As always, your pricing could differ substantially, so it pays to obtain your own personal quote.
Progressive does ask some self-serving questions, such as whether you’re covered by health insurance, conceivably so that they can upsell you on your quote. They also ask if they can email you about their products and services, something we didn’t see on the other sites we reviewed.
Progressive offers some unique customer-friendly features as part of their quote. Right before they display your quote, they ask if you’d like to choose between 3 different types of quotes. The first option is a customized insurance package they recommend, priced accordingly. The second option allows you to enter the price you’d like to pay and they’ll build a quote at that price. Obviously, if you enter a low price, your coverage levels won’t be as high, but this is an intriguing feature for price-sensitive customers on a budget. The third option will match the cost of your current insurance coverage. We found this functionality to be very useful, and it made us feel like we had control of the situation, a nice touch.
The final quote page was very easy to read and understand. The dollar value of the discounts you qualify for are displayed, and customers are given a wide variety of payment options. If you’re interested, there’s even a section where you can compare your Progressive quote with a quote from another company. When you select this feature you’re asked some additional questions and then another quote is generated. Our quote was for State Farm auto insurance with the same coverage limits. The State Farm quote was significantly more expensive than the Progressive quote.
The most unusual and intriguing feature was the complimentary “pet injury coverage” as part of your policy quote, if you elect to purchase collision coverage with your policy. Progressive states that their collision coverage covers injuries or death to any pets owned by the insured or a relative.
Progressive was middle of the pack in most categories, with average prices, claim satisfaction and overall satisfaction. Like the other companies we reviewed, Progressive provides online billing and paper-free statements. Their ability to provide another company’s quote is a nice feature for those customers who prefer to shop around prior to purchasing. The combination of these traits makes them a good pick.
Progressive offers insurance in the following states:
Progressive offers auto insurance coverage in all 50 states