Progressive homeowners insurance offers an in-depth online quote tool and customizable coverage, but uses third-party underwriters for its policies.
Progressive Homeowners Insurance Highlights
- Competitive home insurance policy pricing
- Multiple coverage options to meet your budget needs
- Easy quote comparisons with other providers
- Average customer satisfaction ratings
How We Reviewed Progressive Homeowners Insurance
- 7 companies compared
- 4 features evaluated
- 5 ratings analyzed
Progressive Homeowners Insurance Review
Progressive got its start in 1937 as an auto insurance provider. Today, it offers everything from home insurance to commercial property coverage and pet insurance policies. Protection from Progressive is available in all 50 states, and the company’s in-depth online quote tool makes it easy to customize your coverage options and premium payments. It’s worth noting, however, that in many states, Progressive uses third-party policy underwriters, meaning prices and coverage options may vary significantly.
If you’re looking for easy quotes and customizable coverage, Progressive offers potential. If in-house underwriting is your priority, other providers may offer better policy options.
- Easy-to-use, in-depth online quote tool
- Customize coverage to fit your needs
- Multiple discounts available
- Average customer satisfaction ratings
- Many policies are underwritten by third parties
- Prices vary across states
The Home Insurance Factors We Analyzed
When it comes to premium and policy pricing, two factors matter for Progressive homeowners insurance: home location and condition.
Because the company uses third-party underwriters in many states, prices and discounts vary significantly, depending on where you live and which firm is responsible for underwriting Progressive’s policies. If your home is new or you’ve completed recent upgrades, such as repairing the roof, upgrading your windows, or installing a new security system, expect a lower quote thanks to reduced claim risk.
Progressive makes it easy to get a price on home insurance with an in-depth online tool and also lets you compare rates from other companies using the HomeQuote Explorer tool.
Progressive earns 3 out of 5 stars on J.D. Power 2019 U.S. Home Insurance Study, which is the average for the industry. However, it has a below-average number of consumer complaints according to the NAIC. The result for customers? An overall insurance experience that doesn’t stand out—good or bad—when compared with other providers.
If customers need help, they can contact Progressive by phone 24/7, reach out via email, or log in to their online account for policy and premium details. Online chat is also available through a digital version of “Flo,” the company’s popular insurance spokeswoman.
Progressive offers three types of homeowners insurance: HO1, HO2, and HO3. The most basic is HO1, which protects against 11 common “perils,” such as fire damage, vandalism, and theft, while HO2 and HO3 are more expensive and cover additional perils.
The standard homeowners insurance policy from Progressive covers damage to your dwelling and attached garages, protection for other structures such as decks and driveways, coverage for personal possessions and loss of use along with medical payments and liability protection for injuries that occur on your property.
Progressive also offers add-on coverage, including:
- Water backup due to backed-up sewer systems or malfunctioning sump pumps
- Personal injury due to “uncommon” lawsuits and situations such as slander, libel, or wrongful eviction
Deals, discounts, and add-ons
Homeowners can save money with deals and discounts from Progressive. For example, bundling home and auto coverage gets you a 10% discount, and you can also lower your premium costs by installing alarm systems, getting a quote at least 10 days in advance, or paying your 12-month policy in full upfront. Some Progressive partners also offer small discounts if you choose to receive policy paperwork as emails rather than physical documents.
Progressive Overview: Financial Strength, Availability, and History
Consumer impressions of Progressive are largely positive. According to YouGov, 43% of consumers have a positive opinion of the brand and 94% have heard of Progressive insurance. While the company isn’t accredited by the Better Business Bureau, it does have an A+ rating overall, though, it’s worth noting that it gets just 1 star out of 5 based on customer reviews.
- In business since: 1937
- S&P Financial Strength Rating: AA
- Moody’s Financial Strength Rating: Aa2
- AM Best Financial Strength Rating: A+
- States served: 50
|AM Best Financial Strength Rating||J.D. Power 2019 U.S. Home Insurance Study Score||J.D. Power 2019 U.S. Property Claims Satisfaction Study Score||NAIC Customer Complaints|
|3/5|| N/A|| 0.83|
|State Farm||A++||4/5||3/5||Fewer complaints than average|
|Allstate||A+||3/5||3/5||Fewer complaints than average|
|Geico||A++||N/A||N/A||Close to no complaints|
*All information accurate as of 05/05/20
How We Evaluated Progressive Homeowners Insurance
Factors evaluated include the providers financial strength as indicated by organizations such as AM Best and Standard & Poors, customer service ratings and support, as well as average premiums.
The Bottom Line
Progressive homeowners insurance offers policy customization and easy quote comparisons to help make your decision easier. The company has an average customer service rating, but fewer complaints than its competitors. It does suffer when it comes to underwriting—since Progressive uses third parties for this task in many states, prices and discounts vary considerably depending on your location.
Bottom line? Progressive enjoys a positive market reputation and offers generally competitive pricing, but location significantly impacts the customer experience.
What other property insurance does Progressive offer?
Progressive offers a host of property protection options including condo, rental, home share, mobile home, RV, and umbrella insurance.
How much home insurance do I need?
Coverage needs vary based on the location and age of your home, along with any upgrades you’ve completed. Check out our in-depth Homeowners Insurance FAQ to help pinpoint your ideal coverage level.
Where is Progressive homeowners insurance available?
Progressive provides coverage for homeowners in all 50 states.
How does Progressive underwrite its home insurance policies?
Progressive uses different underwriting companies in each state. While Progressive is your insurance provider, all payouts and claims are handled by local partners. As a result, discounts and pricing can vary significantly.
What does Progressive homeowners insurance typically cover?
Standard Progressive policies cover the 11 basic perils and provide protection for your home, attached property such as garages, detached structures, personal possessions, and loss of use, along with liability and medical coverage for injuries sustained on your property.