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Progressive Home Insurance Review
From its proprietary Name Your Price tool to superior accessibility and support, Progressive home insurance has both traditional and unique offerings for its customers. However, its customer service for claims is not as high as it could be.
In this Progressive Insurance review, we look at what we love about Progressive Insurance, what could be better and how it fares against its competitors. We also go into how Progressive does with our proprietary SimpleScore.
Using our proprietary SimpleScore, our team compared Progressive to other major insurance carriers in the industry across five categories: customer satisfaction, customer support, website accessibility, available discounts and breadth of coverage.
We also analyzed Progressive’s competition with third-party reviewers such as J.D. Power and Consumer Reports.
What we like about Progressive homeowners insurance
There’s lots to love about Progressive’s home insurance products, but we’ll try to keep it to just a few key highlights. Specifically, the company’s Name Your Price tool, HomeQuote Explorer tool, and available discounts are what make Progressive such an excellent choice for home insurance.
Name Your Price tool
Thanks to Progressive’s Name Your Price tool, customers from virtually any financial background can find a policy that meets their budget. Using the online tool, customers provide some basic information, receive possible rates, and name the price they wish to pay. Progressive will then show coverage options that fit the customer’s unique criteria. Customers can then select the policy that meets their budgetary needs and customize it based on the amount of coverage they need.
HomeQuote Explorer tool
To date, Progressive is the only insurance carrier that allows customers to compare home insurance rates and coverage across multiple providers. This easy-to-use web-based tool first requires customers to enter their basic information to receive a personalized quote. From there, Progressive allows customers to compare the quote they receive against rates and coverages from other insurance carriers side-by-side. Once they find the policy that meets their needs, customers can elect it by working with one of Progressive’s agents or by seeking an underwriter from the carrier with the better rate.
[Read: Insurance Provider Reviews]
You’ve probably heard Flo’s signature catchphrase, “There’s a discount for that!” Progressive provides one of the largest selections of available discounts that homeowners can apply to their policies. The following discounts are just some of the additional ways in which Progressive puts customers’ budgets first:
- Multi-policy Bundle Discount
- Alarm Systems & Safety Services Discount
- Quote in Advance Discount
- New Home Discount
- Pay in Full Discount
- Receive Electronic Documents Discount
- New Home Construction Discount
Who should get this policy
Progressive home insurance policies are a great choice for virtually any homeowner. However, due to the availability of new home and new home construction discounts, homeowners that have purchased a newly constructed home or who are planning to build a new home may benefit most from a Progressive policy. Additionally, if you already have an auto policy with Progressive, bundling with a homeowners insurance policy can help you save even more on your coverage needs.
Things to consider
Like all major purchases, it’s important to read the fine print and know what you’re getting into before sealing the deal. While Progressive’s products are extremely user-centric and affordable, there are some things that homeowners should consider before signing on with Team Flo.
Discounts depend on location
Depending on where you live in the United States, certain discounts and coverages may not be available. There’s no easy way to find out if you live in an area that isn’t eligible for specific discounts other than using the Name Your Price and HomeQuote Explorer tools. You’ll simply have to fill out your information and receive a personalized quote to find out whether or not you qualify for specific discounts and coverage options in your area.
Who shouldn’t get this policy
If you’re looking for an all-in-one solution for your home insurance needs, including underwriting and claims processing, you’ll need to look elsewhere. Progressive functions in large part as a middleman, not underwriting its own policies or allowing customers to file claims through the carrier. Those who wish to have all their insurance needs met under one umbrella will be better off finding coverage from another provider.
What we analyzed
Our team analyzed how Progressive stacks up against the competition by evaluating available discounts, coverage options, customer satisfaction, support and accessibility.
When it comes to discounts, Progressive has some of the most robust options available. Available discounts include the following:
- Multi-policy Discount
- Alarm Systems & Safety Devices Discount
- Quote in Advance Discount
- New Purchase Discount
- Pay in Full Discount
- Receive Electronic Documents Discount
- New Home Construction Discount
Progressive also allows customers to work through their exclusive contractor network to help them save money on needed repairs as a result of their insurance claim.
Standard home insurance from Progressive includes the following coverages:
- Dwelling Coverage
- Other Structures
- Personal Possessions
- Loss of Use
- Personal Liability
- Medical Payments
In terms of additional coverages, Progressive doesn’t offer much in the way of variety. They do, however, offer a water back-up coverage option that helps cover water damage from backed-up sump pumps and sewer systems. The company also provides available personal injury protection for uncommon yet expensive lawsuits.
Compared to other insurance providers in the industry, Progressive touts a solid customer satisfaction rating. According to JD Power’s 2019 U.S. Home Insurance Study, Progressive earned a satisfaction rating of 809 out of 1,000. That places them well ahead of providers like Nationwide, Travelers, Liberty Mutual and MetLife — all of whom fell between the 750–800 range on the customer satisfaction scale.
In addition to its customer support hotline, Progressive offers other ways for customers to get the answers they need to their home insurance questions. Policyholders may begin a chat with Flo using the online tool or can send an email request with their concern. They can also use the Progressive App to quickly connect to available agents and customer service representatives. For fast answers to common questions, the Progressive Answers online platform provides a whole host of frequently asked questions and their helpful responses so users can get the information they need quickly and easily.
The Progressive website is very intuitive, featuring a full description of each available product with corresponding discounts and online quote tools. Customers can easily obtain a quote online using the web-based quote tool and can even compare rates across providers with the HomeQuote Explorer tool. However, Progressive does not allow policyholders to manage their policies or file claims through the carrier. Claims must be submitted separately through the third-party claims processor, which can be a point of concern for some customers.
Progressive home insurance vs. the competition
To give you an even better idea of how Progressive performs compared to their competitors, we’ve compiled a list of three other insurance carriers that offer homeowners insurance products. We evaluated each for discounts, coverage options, accessibility, customer satisfaction and support to determine where they stand in relation to Progressive’s offerings.
Progressive’s home insurance rates
Like all homeowners insurance rates, Progressive’s premiums are determined based on your geographic location, the age of your home, claims history and the breadth of coverage requested — just to name a few. According to the company’s website, the average cost of homeowners’ insurance for a 12-month policy from Progressive ranged from $676 to $2,044 annually in 2019. The biggest factor that impacts insurance premiums is your home’s location. The least-expensive states for coverage include Arizona, Delaware, Washington, D.C., Kentucky, Maine, Nevada, New York, North Carolina, Ohio, Oregon, Pennsylvania, Utah, Vermont, Washington, Wisconsin and West Virginia.
Progressive online and mobile app
For informational purposes, Progressive’s online and mobile app user experiences are unmatched. Each provides in-depth information about the company’s offerings and how customers can save the most money on their coverage needs. However, if you’re looking for a company that provides policyholders unique ways to manage their policies and file claims, you may need to keep looking. Progressive currently does not allow their customers to manage policies or file claims online or through their mobile app.
[Read: USAA Home Insurance Review]
Progressive renters, auto and life insurance
In addition to Progressive’s homeowners’ insurance offerings, the company provides renters, auto and life insurance products. Depending on which product you select, you may be able to bundle with your homeowners insurance policy to save on your coverage needs.
Progressive renters insurance
Progressive’s renters insurance policies are specially designed to protect tenants from unexpected expenses, including medical bills for someone else’s injuries or temporary living expenses due to forced displacement. Customers can build the policy that works best for them by selecting the coverages that make the most sense for their situation for a truly personalized policy.
Progressive life insurance
Customers can choose from Progressive’s broad range of available life insurance policies to protect their families’ financial well-being in the event that they die. The company currently offers term life insurance, whole life insurance, universal life insurance and final expense insurance. Benefit amounts range from $50,000 to more than $1 million, and beneficiaries can receive pay-outs even if policyholders live past 100 years old!
Progressive auto insurance
More than 20 million drivers in the United States are enrolled in Progressive’s auto insurance coverage — and for good reason. The company offers a broad range of discounts, including its Safe Driving discount that provides personalized savings based on the driver’s behaviors. Customers simply install a Progressive monitor in their car to start saving on their auto insurance policies based on their personal driving habits.
It pays to have more than one policy with Progressive — customers can bundle and save on their coverage needs by having a unified policy for their home and auto coverage needs. Policyholders can also elect to have one deductible across their bundle, saving even more on their coverage. On average, Progressive customers save 12% by bundling their policies.
Progressive in the news
- In November 2020, Progressive teamed up with Whole Foods to provide customers with “turkey insurance” for their Thanksgiving nightmares. Through the program, customers are protected from “eating a bad meal” if they’re enrolled in the insurance, have their Whole Foods Market receipt, and a picture and explanation of what went wrong to cause their Turkey Day fail.
- Progressive also teamed up with SimpleNexus to provide app users with access to home insurance offerings. SimpleNexus is a mortgage app that has been used to connect 3 million borrowers to available lenders for their mortgage needs. Now, customers can use the app to find available home insurance coverage for their new home purchases with Progressive.
- Following the COVID-19 pandemic, Progressive released an initiative to lower its auto insurance rates by 10%. However, as businesses began to reopen and workers returned to their places of business, Progressive rolled back its auto insurance reductions, causing an average increase of 4% to customers’ insurance premiums. While it wasn’t the news many policyholders were hoping to hear, at least they can still enjoy 6% savings on their coverage through the initial reduction.
We welcome your feedback on this article and would love to hear about your experience with the insurers we recommend. Contact us at email@example.com with comments or questions.