Progressive Homeowners Insurance Review
Known for its customer- and employee-focused approach (and Flo), Progressive prides itself on “transparency, efficiency, innovation, and empowerment.” For customers, this means the assurance of quality coverage and forward-thinking industry-leading innovations. Progressive also invests in local communities and education through The Progressive Insurance Foundation; suffice it to say, Progressive is not just an insurance company.
Though Progressive received average ratings from J.D. Power for overall customer satisfaction, we found many positive things about home insurance with Progressive. Its website is user-friendly, easy to navigate, and full of helpful resources for its customers. There is a wide array of discount options that vary by location, and its HomeQuote Explorer tool allows you to compare rates with its competitors, right from its website. Customers with a strict budget can even tell Progressive what price they can afford using the Name Your Price tool and receive a quote with coverage options.
Among the best homeowners insurance companies, Progressive is a great choice for someone who is seeking home insurance coverage and wants to invest in a company that contributes to positive social impact. Additionally, Progressive recently announced a partnership with ASI and now offers ASI Home policies.
HomeQuote Explorer to compare rates
Lots of discount options
Wide coverage options
Name Your Price tool
Average customer satisfaction ratings
The Homeowners Insurance Factors We Analyzed
Home insurance pricing (and coverage availability) will vary greatly depending on geographical location, crime rates, home age, home type, fire hydrant and station proximity, and more. You may not be able to control your geographical location, but when home shopping, you can control the age and type of home you buy. A newer home will result in a lower premium than an otherwise equivalent older home. A home with a new roof will often result in a lower premium than a home with an aging roof. To see how much home insurance will cost for your situation, try getting a quote from Progressive.
Progressive received average ratings for overall customer satisfaction from J.D. Power. The company received a three out of five across the board in overall satisfaction, policy offerings, price, billing process and policy information, interaction, and claims. The National Association of Insurance Commissioners (NAIC) also indicated that Progressive received above the national average number of complaints in 2018.
It’s understandable to think that home insurance is only for your home, but a good homeowners insurance policy covers much more than just the home itself. Here is a list of what Progressive’s most basic policy covers:
- Dwelling: covers damage to the house and anything attached to it, like a garage, deck, flooring, etc.
- Other structures: covers other detached structures like detached garages, patios, fences, driveways, etc.
- Personal property: covers your personal property, whether located in the home or not
- Loss of use: covers living expenses if your home is damaged and uninhabitable
- Personal liability: covers your attorney fees, court fees and other damages you are liable for if someone sues you for an injury or damage while on your property
- Medical payments: covers medical bills if someone is hurt while on your property
Need a little more? Progressive offers two optional coverages that can be included in your policy.
- Water backup: covers sump pump or sewer system water damage
- Personal injury: covers the legal fees associated with a variety of personal injury lawsuits, including slander or libel lawsuits, wrongful eviction, false arrest, detention or imprisonment, etc.
If you live in an area prone to floods, earthquakes, landslides, mudslides, or sinkholes, Progressive offers the option to add coverage for these things under a separate policy.
For more information on what is covered, what is not, and great examples of each, visit Progressive’s website.
Deals, discounts, and add-ons
Progressive offers a variety of homeowners insurance discounts, though they may vary by location. We recommend speaking with your Progressive agent to make sure you get all the discounts you qualify for. A few common discounts include:
- Home and auto bundle
- Alarm systems and safety devices
- Quote in advance
- New purchase
- Pay in full
- New home construction
You can also save some additional dollars by using Progressive-recommended contractors for home damage repair.
Progressive Homeowners Insurance Overview: Financial Strength, Availability, and History
In business since 1937, Progressive continues to strive toward its vision of being the No. 1 choice of consumers by living and breathing a forward-thinking and innovative approach to insurance. With an A+ rating from AM Best, an AA from S&P Global, and an Aa2 rating from Moody’s, customers can rest assured that the company is financially secure and there should be no issues with payout on approved claims.
- In business since: 1937
- S&P Global financial strength rating: AA
- Moody’s financial strength rating: Aa2
- AM Best financial strength rating: A+
- Better Business Bureau rating: B-
- States served: 50
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All information accurate as of February 14, 2020.
The Bottom Line
Overall, Progressive’s home insurance ranks as average compared to competitors when it comes to its customer service, billing, pricing, and other general operations. However, we found its website to be incredibly helpful, containing almost every piece of information a customer or potential customer might need. Because Progressive’s policies are underwritten by third parties, your experience may depend on which underwriter you’re paired with, but it’s still a good idea to get a quote as you compare policies from a few competitors.
Progressive Homeowners Insurance FAQ
Progressive offers a variety of property insurance, including condo, flood, homeowners, homeshare, home warranty, home security, mobile home, and renters. It also offers the ability to bundle home and auto insurance, which can result in a discount off annual premium with the added benefit of paying one deductible if there is damage to both your home and car. If you have not bundled the two and both are damaged, you will be responsible for paying a deductible on each policy.
Progressive offers homeowners insurance in all 50 states, although coverage and discounts may vary by state.
Progressive home insurance is underwritten by different partner insurers. The underwriters available to you vary by state and region. With a Progressive home insurance policy, one of the partners will be responsible for setting your rate and paying out your claims.
If your home’s damage is the result of expected events, the damage will not be covered by Progressive. If the damage is the result of unexpected events, the damage will likely be covered. For example, if you have a known plumbing issue that you do not get resolved and it later results in a water leak, your home insurance policy may not cover those damages. However, if a pipe bursts unexpectedly, the policy will likely cover those damages. When in doubt, speak to a Progressive agent about what exact coverage to expect under your policy.