Progressive is one of the largest insurers in the country boasting the third position in  largest premiums written. The company was founded in 1937 by two Cleveland attorneys named Joseph Lewis and Jack Green under the name Progressive Mutual Insurance Company. The goal was to provide quality insurance to vehicle owners at the time. Take a closer look at what makes Progressive Insurance so unique.

[ Read: The Best Car Insurance Companies for 2020 ]

1. What Is Progressive Insurance Best Known for?

Progressive was responsible for many industry firsts. Among the most notable are: 

  • 1956: The company launched a Safe Driver Plan in 1956 to provide accident-free drivers with lower premiums. 
  • 1993: They become the first auto insurance company to allow customers to comparison-shop rates and buy coverage — all over the phone. 
  • 1995: Progressive becomes the first insurance company to launch a website, auto-insurance.com. 
  • 1996: The first time they allow customers to get real-time insurance quotes online.
  • 1997: They commence selling insurance online.
  • 2009: Progressive launches a “Name Your Price” option during policy quoting to make it easier to find the level of car insurance you can afford.
  • 2010: The first car insurance app is released.

2. What Type of Insurance Does Progressive Offer?

Progressive Insurance provides a variety of coverages, although they are best known for auto insurance. However, their homeowners insurance is also popular because many customers prefer to bundle their home and auto insurance together to maximize savings. Among the most popular types of insurance coverages offered by Progressive include:

  • Vehicle insurance
  • Homeowners insurance
  • Home warranty coverage
  • Homeshare insurance
  • Renters insurance
  • Condo insurance
  • Business insurance
  • Workers’ compensation insurance
  • Health and dental insurance
  • Pet insurance
  • Life insurance
  • Umbrella insurance
  • Travel insurance
  • Wedding and event insurance

3. What Other Vehicles Can I Insure with Progressive?

Besides cars, you can insure a variety of other types of vehicles among which are motorcycles, golf carts, RVs, and segways. Chances are, if it has wheels, Progressive can insure it. 

In addition, Progressive is one of the few insurance companies that is willing to insure classic cars. Many companies are hesitant to insure a classic vehicle because its value may be hard to determine or may be very high.

[ Read: The Best Motorcycle Insurance ]

4. What Is Progressive Homeshare Insurance?

Homeshare insurance is a unique product. The explosive growth of Airbnb, VRBO and Flipkey means many homeowners are renting out their primary residences or vacation homes. Any damages that occur when you rent out your home may not be covered by your standard home insurance policy. 

This led to Progressive Insurance to partner with Slice to create homeshare insurance, a short-term rental insurance to cover the gap. It’s a great way to get started in the homeshare business without having to commit to a full-time coverage. Progressive lets you buy homeshare insurance by the day, up to 45 days per year, for about $8 per day.  Meaning that, if you host guests for, say a week, all you need to do is sign up and buy seven days worth of homeshare insurance to cover your property.

5. What Homeowners Insurance Coverage Does Progressive Offer?

Progressive offers standard homeowners insurance, as well as add-ons to customize your coverage.

Standard coverage

The basic homeowners insurance package includes the following:

  • Dwelling coverage: Covers the structure of your home and anything that is permanently attached to it, such as a chimney, your kitchen cabinets, garage and more.
  • Other structures coverage: Includes unattached structures on your property such as your backyard deck, fences, gazebos and sheds.
  • Personal possessions: The contents of your home including furniture, clothes and electronics.
  • Loss of use: Pays for your living expenses while your home is repaired.
  • Personal liability: Pays your lawyers, court fees and court-ordered damages if you’re sued.
  • Medical payments: Pays others’ medical bills if they’re hurt on your property.

Standard coverage also includes claims from damages caused by fires, storms, theft and falling objects. However, it doesn’t include coverage for floods, earthquakes, landslides, mudslides and sinkholes. In addition, water damage within your house may not always be covered — you’ll need to purchase additional insurance if you believe you’re at risk for those types of uncovered events.

Water Backup

Damage from backed-up sump pumps and sewer systems isn’t covered by your standard Progressive homeowners policy. You can add optional water backup coverage as added protection.

Personal Injury

Personal injury expands your legal protections to include insurance coverage for slandering or libeling someone, or for false arrest or wrongful eviction.

Jewelry and Collectibles

If you have high-value items such as expensive jewelry or art, your standard coverage won’t cover them. You can purchase additional insurance to include your more expensive valuables.

6. How Can I Buy Insurance with Progressive?

You can buy insurance at Progressive.com or through more than 38,000 brokers nationwide. Working with an agent may be a better bet — you’ll have access to an expert who can guide you through choosing the right amount of insurance coverage and make sure your claims are processed correctly. 

7. How Can I Save on Progressive Insurance?

Mariah Arriola, a home and auto specialist selling Progressive Insurance through RightSure Insurance Group in Arizona suggests “take advantage of the many opportunities Progressive provides customers to save money through discounts.” Among the discounts homeowners have access to include:

  • Bundling home and auto insurance — you may even be able to have only one deductible that can be shared between both policies.
  • Getting a quote at least 10 days before your policy begins.
  • Pay for your annual homeowners policy in full.

Arriola also recommends enrolling in Progressive Snapshot. Download the app or install a device under your steering wheel that tracks your driving habits and gives you a personalized rate. Arriola says you’ll save “up to 10 percent in your first term and 20% on your second term” when you use the service.

The Bottom Line

Progressive has been innovating auto and homeowners insurance since it started in 1937. In addition to the coverages available online, the company has over 38,000 brokers selling its insurance products nationwide. The most popular are Progressive’s auto and home insurance. Bundle them together for the biggest savings.

Photo by SOPA Images / GettyImages

About the Authors

Cynthia Paez Bowman is a home and personal finance writer with a degree in International Business and Journalism from American University. She’s written about internet and TV for MYMOVE, Freshome and Safety.com.