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Last updated on Jan 20, 2020

Progressive Renters Insurance Review

A good way to bundle policies and help protect your property ​
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Progressive

  • Opportunities for savings
  • Bundle multiple policies
  • Poor customer satisfaction ratings
Similar Products

How We Reviewed Progressive Renters Insurance

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6 companies compared

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4 features evaluated

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20 hours of research

Progressive Renters Insurance Review

One of the most recognized insurance companies in the United States, Progressive offers renters insurance policies that include standard coverage for personal property and liability, with a couple of options for additional coverage. Since Progressive also offers auto, commercial, and personal insurance policies, it’s easy to bundle multiple policies for both convenience and cost savings. Progressive even offers additional financial products like loans and financing, so you don’t have to juggle multiple providers for these services if you don’t want to.

If you’re interested in a renters insurance policy from Progressive, its online quote calculator allows you to compare different levels of coverage and even see what you’d pay to bundle multiple policies together. However, if you still need help, Progressive offers a team of in-house experts to help explain your insurance options and walk you through the process.

Pros Cons
Many advertised discounts
Option to go paperless
Fewer customization options than
competitors

The Renters Insurance Factors We Analyzed

Customer experience

Since Progressive is such a widely recognized insurance provider, it’s curious that the 2019 J.D. Power Property Claims Satisfaction Study leaves it out entirely. Progressive gets an average two-star rating on the 2019 J.D. Power Renters Insurance Study. This score remains constant across the board for policy offerings, price, billing process, and interaction. This isn’t necessarily a bad indicator, as nearly two-thirds of the companies reviewed received this score, though Progressive does fall near the bottom of those rankings.

One highlight is that Progressive is considered one of the better providers for online policy bundling, with 83% of customers who purchase insurance through its website opting for a policy bundle. This makes Progressive customers three times more likely to buy an online policy than the industry average and also speaks to the satisfaction of customers who are more than happy to choose Progressive for multiple types of insurance instead of shopping around for additional providers.

Coverage information

Every standard Progressive renters insurance policy comes with personal property coverage, which means most of your possessions are protected from theft or damage. You’ll also get personal liability coverage in case someone sues you for bodily injury or property damage.

In addition to these two types of coverage, you’ll get loss of use coverage, meaning Progressive will cover your accommodation and food expenses should your home become uninhabitable. Finally, the standard policy includes medical payment coverage in case any guests are injured at your home and need medical care.

Progressive doesn’t offer quite as many optional add-ons as some other providers, but there are two you might want to consider. Water backup is a specific type of coverage that pays for damage caused by a backed-up sump pump or sewer. Personal injury coverage is another extension that pays for damages and fees associated with slander and libel lawsuits.

Deals, discounts, and add-ons

Deals and discounts are where Progressive performs better in the renters insurance industry. The multiple policy discount allows you to save 5% on your auto insurance policy when you combine the two. If you get a quote at least three days before you want your renters insurance policy to begin, you’ll save even more. Additional discounts include going paperless and paying the full amount of your policy premium upfront instead of monthly installments. Finally, if you bundle multiple policies through Progressive and need to make claims against more than one due to the same event, you’ll only have to pay one deductible.

Progressive Renters Insurance Overview: Financial Strength, Availability, and History

Progressive is a well-recognized name; according to YouGov, 94% of consumers are familiar with the name, and four out of five have a positive or neutral opinion associated with it. Progressive is most popular with younger generations, namely millennials and Gen X.

Interestingly, Progressive received a B- rating from the Better Business Bureau and is not accredited. According to the agency, the decent rating is a result of failure to respond to four complaints that have been filed. It’s also worth noting that there have been more than 2,400 complaints successfully closed in the past three years, so Progressive is by no means ignoring customer complaints.

  • In business since: 1937
  • S&P Global financial strength rating: AA
  • Moody’s financial strength rating: A2
  • AM Best financial strength rating: A+
  • States served: 50 plus Washington, D.C.

The Competition

Provider
Overall Rank
Reviews.com
Customer Experience Score
Financial Strength Score
Progressive
11
1.8/5
1/5
4/5
USAA
1
4.8/5
5/5
4.3/5
State Farm
2
3.8/5
4/5
3/5
American Family
3
3.6/5
4/5
2.3/5
Allstate
4
3.3/5
3/5
4/5
Nationwide
5
3.3/5
3/5
4/5

All information accurate as of January 20, 2020.

The Bottom Line

Overall, Progressive is a solid contender for renters insurance, especially if you’re in the market for auto insurance or other policies that could be combined for better savings. Progressive is worth even further consideration if you rent a home with secure access or in a gated community, as these types of homes get better discounts through Progressive than through other providers. Plus, if you purchase multiple types of insurance with Progressive, you’ll only have to pay a single deductible should something happen that affects multiple areas of your life. Progressive doesn’t have the best track record with customer service, but it’s still worth considering as you pull quotes from providers.

Progressive Renters Insurance FAQ