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Progressive Insurance Review (2022)

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Progressive insurance company is the third-largest auto insurance agency in the United States.  Although the insurance corporation is one of the largest car insurance providers but offers other insurance products which include homeowners, motorcycles, commercial vehicles, RVs, and boat insurance. The insurance company came into the limelight with an asset of over $56 billion and $39 billion in revenue in 2019 since the company started selling auto insurance in 1937.Today, we have progressive insurance companies not only in the United States but also in Australia.   

Progressive Insurance Review (2020)
Progressive Insurance Review (2020)

Progressive gives its customers easy access to the company’s insurance products using the website or mobile app so they can easily request an insurance quote online, file a claim, and also make payment using these platforms. You can also get business insurance coverage and other financial products like personal loans, home mortgages, and other commercial risks. The firm sells insurance policies directly to customers or through a licensed independent agent.

A Brief history of Progressive insurance

Progressive was established in March 1937 by Joseph Lewis and Jack Green as a Progressive Mutual Insurance Company in Mayfield Village, Ohio. The two legal friends started the company with a capital of $10,000 borrowed from Lewis’s mother-in-law which was used to acquire five small auto service companies. In 1940, the insurance firm struggled and its capital dwindled to less than $1500 but experience a boom during World War II. By 1946, Progressive’s premium revenues reached $480,000.

The Company’s goal was to provide security and protection to vehicle owners in the country. In 1950, the firm’s growth led to the emergence of new offices in downtown Cleverland. Joseph Lewis died in 1955 and Jack Green became the CEO of Progressive. That year, Peter Lewis Joseph’s son joined the firm after graduating from Princeton University where he started his career. Peter’s effort made the insurance firm got involved with insuring more risky drivers by introducing a legal niche to the drivers in 1956. The Progressive Casualty Company was created, a unit that writes auto-insurance for “nonstandard” high-risk drivers.   

In 1965, Jack Green retired and Peter Lewis became the CEO in the same year. The new Company premium revenue totaled about $7.4 million during its first year of leading the Corporation. Peter Lewis held the position as the CEO of the firm for 35 years with over 1,000 pieces of award-winning contemporary art. From 1975 to 1978, the firm’s insurance premium income nearly quadrupled from $38 million to $112 million, and in 1979, the company wrote policies in 31 states which Ohio accounted for one-third of the premium.

Lewis was characterized as “a brilliant and unusual man” in a 1990 Financial World profile.  Lewis remained the CEO of Progressive until Glenn Renwick took over in 2000 that was succeeded by the current CEO and President Tricia Griffith in 2016.

In 1995, Progressive became the first auto insurance firm in the world to launch a website that serves as a digital tool for all its customers. By 1996, customers started obtaining their comparison rates online. In 2018, the firm created an online platform where customers manage their policies, file for a claim where they get immediate Response claims service and also talk to a local agent. The company has maintained its uniqueness to date.   

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Progressive auto insurance

Progressive offers a wide range of several car insurance coverages.

  • Comprehensive Insurance: this is a type of automobile insurance that provides coverage for your vehicle damage that occurred as a result tornado, fire, accidents, or vandalism.
  • Collision Insurance: this is a type of auto coverage for any event of damage experienced when your car collides with a vehicle or an object.
  • Gap Insurance: this provides coverage for your car when it is involved in an accident. This type of coverage pays up to 25% of your car’s worth. This is done to cover your loan or pay up the previous balance you owed.
  • Medical Payment: this type of coverage covers payment for medical expenses that occurred as a result of a car accident.
  • Rideshare insurance: this type of coverage is in all states especially for those running vehicle businesses. This kind of coverage makes use of the rideshare app such that the customer turns the app on. This provides coverage between rides especially when you are accepting a ride and dropping off a customer. If you drive for a Rideshare service, the coverage replaces your commercial policy when it expires.
  • Snapshot: this is a type of coverage program on Progressive that collects information on your driving habits which include when you drive, how much you drive, how you are driving and the speed applied when driving. Progressive uses the data collected to cover up your insurance rates next time you want to renew. These data are collected either from your mobile app or a mobile snapshot device connected to your vehicle’s diagnostic port. When you register for auto insurance using the snapshot coverage you automatically get a discount. Progressive advertises its Snapshot as a way to  
  • Deductible saving bank: progressive customers are entitled to this program automatically when they have comprehensive and collision coverage. This program reduces their deductible by subtracting $50 from your comprehensive and collision every time you are claim-free.
  • Liability: This coverage covers both bodily injury and property damage. Bodily injury provides coverage for lost income and all forms of medical bills if you hit someone with your vehicle and they are injured. While property damage covers payment for damages done to someone else’s vehicle for which you are at fault.
  • Custom Parts and Equipment Value: this provides coverage to pay for the replacement of items and repairs of accessories added to your car.

Progressive Auto Insurance Discounts

Progressive discounts are given to eligible customers depending on certain factors especially location.

  • Multi-vehicle discount
  • Snapshot discount program
  • Sign online discount
  • Multi-policy discount
  • Good student discount
  • Homeowner discount
  • Teen driver discount
  • Online quote discount
  • Checking account discount
  • Continuous insurance discount

How much does Progressive auto insurance cost?

The Progressive car insurance cost ranges between $46 and $420 monthly depending on certain factors which include age, location, gender, mileage, vehicle, and many others.

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Factors that Affects Progressive car insurance cost

  • Age: younger drivers pay higher premiums than the older drivers. This is younger drivers experience more accidents than older ones.
  • Location: drivers living in urban areas will a pay higher premium than drivers living in the rural area. This is because those living in the urban setting experience more accidents than the rural ones.
  • Driving Record: a driving record of accidents will secure higher premium payments. But a clean driving record will secure a lower premium rate.
  • Vehicle: a lot of things in your vehicle affect your insurance premium. They include your vehicle’s engine size, age, cost, and model.
  • Gender: women pay a lesser amount of insurance premium than men. By statistics, men engage in higher accidents than women.

According to Quote.com, the following examples below are quotes from progressive.

  • A 23-year-old female in Wichita, Kansas, driving a 2013 Toyota Tundra might pay approximately $152 a month.
  • A 29-year-old female in Brooklyn, New York, driving a 2013 Ford Focus might pay $428 a month.
  • A 21-year-old male in San Diego, California, driving a 2014 Dodge Charger might pay over $240 a month.

How to Get a Progressive Auto Insurance Claim

To report a claim with progressive, you either login to Progressive’s website online or mobile app, or by calling the progressive insurance phone number – (800-776-4737). Progressive will connect with a claim agent and an estimator who will write your vehicle’s estimate which covers any policy.

The Insurance firm provides Service Center in some approved area, if you locate an auto shop within this approved network. Progressive will take care of your vehicle repairs and even tow it if you need it. The repairs are guaranteed as long as you own or lease your car. However, the representative will help you through the process and schedule and set up a date and time for your repairs at any shop you like around you.

Other Insurance offered by Progressive

  • Homeowners Insurance
  • RV insurance
  • Travel Insurance
  • Umbrella insurance
  • Motorcycle Insurance
  • Boat Insurance
  • Flood Insurance
  • Condo Insurance
  • Life Insurance
  • Mobile Home Insurance
  • Pet Insurance
  • Renters Insurance

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How to Get a Progressive Auto Insurance Quote

To get a Progressive online quote, you need to provide certain information about yourself. You can get a quote over the phone or through an insurance agent. However, driving record and credit report will determine your insurance quote. The personal information that will be provided includes your driving license number, vehicle information number (VIN), Social Security number, date of birth, and contact information. You can also make use of Facebook Messenger to get a quote from Progressive Flo Chatbot via virtual assistance.

How to Cancel Your Progressive Car Insurance Policy

To cancel your car insurance policy is easy without paying a cancellation fee. All you need to is call 800-776-4737 over the phone.

Progressive Customer Service

The customer service unit at Progressive is works 24 hours a day, seven days a week with out any interruption. You can contact the customer service team over the phone, online, and through an insurance agent, and email. You can reach them on the progressive insurance phone number – 1-800-776-4737

Progressive also makes use of the mobile app to report a claim, make payment, view policy details, and get roadside assistance.    

Insurer Complain Index

According to Investopedia.com, the National Association of Insurance Commission (NAIC) releases companies’ complaint ratio every year. The NAIC considers a ratio of 1.0 to be the industry average. If the industry is above 1.0, it shows the company received more complaints while a ratio below 1.0 means the company received a lesser complaint than it is for its size. In 2019, Progressive’s complaint ratio was 1.66 which is above the industry average.  

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