Progressive Automobile Insurance Valuation for 2022 – Kelley Blue E-book

Progressive is one of the big names in auto insurance. The company is the third largest auto insurer in the United States, covering millions of motorists each year. But do you know enough about Progressive and its auto insurance?

Is the company as reliable as their commercials say it is? How much does progressive car insurance cost and does it offer reasonable discounts? We answer these and other questions in this review.

Motor insurance types with progressive

Progressive offers the most popular types of auto insurance coverage and a few extras. You will find the most important types of insurance below:

  • liability
  • collision
  • Full
  • Medical payments
  • Personal Protection (PIP)
  • Underinsured / uninsured motorist protection (UM / UIM)

You will find more covers below. These add-ons are one of the reasons Progressive's positive reviews are:

  • Breakdown assistance: Includes towing, tire change, locking service and fuel delivery.
  • Loan / lease repayment: In contrast to GAP insurance, this additional insurance covers up to 25% of the current market value of your car.
  • Reimbursement of the rental car: This option covers $ 30 to $ 50 per day for a rental car in the event your car is a total write-off or ends up in the garage after an accident.
  • Value of Custom Parts and Equipment: Covers the replacement items that you have added to your car.
  • Ridesharing coverage: For Uber and Lyft drivers, this insurance option extends your coverage while you are driving or waiting.

What are the benefits of taking out progressive car insurance?

To decide if Progressive is right for you, the first thing to consider is the benefits.

Overall, a progressive policy is a good choice for high risk drivers, especially after a DUI quote. The insurer is also available nationwide and making an offer is easy.

Can you save on your auto insurance with Progressive? According to the company, drivers can save around $ 700 on average on their policy. Here are some of the discounts the company offers:

  • Multi-politics: Save 5% with this discount.
  • Multi-car: Save about 4% by adding another car to your policy.
  • Continuous insurance: Get a discount if you have no insurance gaps or cancellations.
  • Good student: Having a student with an A or B average on your policy can save you money; about 10%.
  • Distance student discount: This discount applies to the inclusion of a full-time student who lives more than 100 miles away on your policy.
  • Homeowner: Homeowners receive a 10% discount.
  • Online offer: Save about 7% by getting a progressive online quote.
  • Sign online: Save 9% when you sign your documents online.
  • Paperless: Lower your payment by receiving your documents by email (discount only applies in combination with the online discount).
  • Pay the whole amount: Pay for your six month policy in advance and get a discount.
  • Automatic payment: Set up automatic payments from your checking account to save money (cannot be combined with the full payment discount).
  • The Snapshot® driving program: Another way to save is to use this program, which will track your driving habits and reward you for driving safely. Progressive claims that drivers using the app save an average of $ 146 annually. You will make around $ 50 for just signing up.

Progressive car insurance costs

When preparing a quote for customers, Progressive takes into account a variety of factors, including the number of kilometers you drive your vehicle each year. According to Savvy, if you drive your car between 12,000 and 15,000 miles per year, Progressive costs an average of $ 179 per month for your insurance premium. According to a study by the Department of Transportation Federal Highway Administration, the average person drove 14,263 miles per year in 2019.

RELATED STORIES: Average Miles Traveled Per Year: Why It Matters

Savvy collects data from current consumer policies, including tariff information, age, marital status, and other demographics. The statistics provide a representative sample that serves as a general guide. Learn more about Savvy's methodology.

Let's take a closer look at how other demographics play in auto insurance.

Progressive auto insurance – average annual rates
Age group gender marital status worth
18 to 24 Female married $ 2,738.31
18 to 24 Female single $ 2,700.56
18 to 24 male married $ 2,917.96
18 to 24 male single $ 2,843.85
25 to 34 Female married $ 2,260.77
25 to 34 Female single $ 2,156.00
25 to 34 male married $ 2,261.31
25 to 34 male single $ 2,252.73
35 to 49 Female married $ 2,579.65
35 to 49 Female single $ 2,197.95
35 to 49 male married $ 2,415.30
35 to 49 male single $ 2,073.35
50 to 69 Female married $ 2,769.00
50 to 69 Female single $ 2,562.33
50 to 69 male married $ 2,738.71
50 to 69 male single $ 2,410.07
70 or higher Female married $ 2,460.19
70 or higher Female single $ 2,627.00
70 or higher male married $ 2,583.03
70 or higher male single $ 2,514.97

Source: Savvy

What other factors play a role?

In addition to annual miles per year, age, gender, and marital status, insurance companies consider a variety of factors such as location, driving history, credit history, and more when creating quotes for current and prospective customers.

RELATED STORIES: 9 Factors That Will Impact Car Insurance Prices In 2022

location

Living near a busy, accident-prone intersection or in a large city with a high crime rate will affect your auto insurance rates. Likewise, smaller cities with low crime rates usually have cheaper car insurance.

According to Savvy, Maine, Hawaii, Idaho, Wyoming, and Iowa are the states with the cheapest insurance rates. Places with the most expensive auto insurance rates are New York, Rhode Island, Washington, D.C., Maryland, and Louisiana.

DUI

Progressive is actually one of the most affordable companies for individuals following a DUI quote. According to The Zebra, you can expect your policy to only increase by $ 400 after a DUI. Those without DUIs can expect to pay an average of $ 1,604 per year, while those with this quote can expect to pay $ 2,004 per year

However, Progressive does not offer the cheapest tariff itself as its policies are initially expensive. This must also be taken into account.

Car accidents

While the penalties for DUI quotes are very low for progressives, the penalties for car accidents for fault are not. Progressive car insurance is one of the most expensive in the country for drivers who have caused a collision or other accident.

After a car accident, those insured with Progressive can expect their tariffs to rise from $ 1,604 without accidents to $ 2,174 in the first year after the culpable violation. Your award will be $ 3,941 for the second year and $ 5,110 for the third year.

Accidents remain on a driver's records for at least three to five years.

Credit history

Car insurance companies check a person's credit history for car insurance policies. Risk assessors believe that a driver's credit history is an indication of the individual's driving habits and the likelihood of an accident. Because of this, individuals with poor credit scores pay significantly more – sometimes more than double – than a driver with excellent or exceptional credit scores.

According to data from The Zebra, a person with exceptional credit pays an average of $ 1,349 for auto insurance, which is below the US average of $ 1,600. That number rises to $ 2,895 for those with very poor creditworthiness.

Four states – California, Michigan, Massachusetts, and Hawaii – have taken steps to ban this practice. In these states, it is illegal for insurance companies to take a person's credit history into account when calculating their insurance rates.

How is the customer satisfaction at Progressive?

Many people find progressive rewards affordable. Progressive reviews vary when it comes to customer service, however. This is a common problem with most insurers.

J.D. Power can give us a deeper insight into Progressive's overall customer satisfaction by region. In their U.S. auto insurance study, J.D. Power 2021, they spoke to almost 40,000 people with car insurance and considered the following categories in their rankings: billing process and policy information, claims, interaction, policy offers and price.

According to the survey, Progressives ranked as follows:

Above average

A little above average

  • New England
  • North-Central
  • southwest
  • Texas

Below average

  • Central USA
  • Florida
  • Central Atlantic
  • new York
  • northwest
  • South east

Overview of progressives

Progressive knows how to write insurance premiums. In 2020, the company withdrew more than $ 40 billion in insurance premiums, the National Associations of Insurance Commissioners (NAIC) said.

The company's financial strength is correspondingly solid. Progressive received from A.M. Best for its financial strength and ability to meet insurance claims.

But let's take a step back and follow the story of Progressive. The company was founded in 1937 and has continued to develop since then. Did you know that in 1997 Progressive Auto Insurance was the first policy you could buy online?

In addition, Progressive introduced a usage-based insurance option for the first time in 2008, which enables policyholders to only pay for the miles they drive?

Progressive is popular with its auto and motorcycle insurance. They are also the company's strengths. However, if you're looking for a cheap provider, Progressive may not be the cheapest option.

Studies of progressive car insurance ratings show that the claims process is average. On the other hand, the company offers decent customer service and a range of discounts and features.

Before choosing a car insurance provider, shop around and explore offers from several. This allows you to check the tariffs and determine which insurer and policy is best for you.

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