Progressive Insurance can be a good choice for homeowners looking for affordable and customizable coverage.
Progressive Insurance is one of the largest home insurers in the nation, but it does not underwrite its own policies.
Instead, it matches you with a home insurer through its agency or subsidiary.
Progressive home insurance offers comprehensive and affordable coverage with several add-on options and discounts for bundling.
However, Progressive also has some drawbacks, such as a high complaint index from the NAIC and some negative reviews from BBB customers, who report problems with service, payments, and claims.
Progressive may also have a banned dog list in your state that makes owners of certain breeds ineligible for coverage.
Whether Progressive Insurance is good for homeowners depends on your needs, preferences, and budget.
You can use Progressive’s HomeQuote Explorer tool to compare quotes from other providers.
History of Progressive Insurance
Progressive Insurance was founded in 1937 by Joseph Lewis and Jack Green as Progressive Insurance Company.
They wanted to provide vehicle owners with security and protection, and they thought an insurance company was a good investment for a couple of lawyers who were just getting started.
Their business philosophy was to approach auto insurance in an innovative way as no other company had. In 1956, the company found a niche by insuring more risky drivers.
In 1965, Peter B. Lewis, son of Joseph Lewis, and his mother borrowed $2.5 million, pledging their majority stake as collateral, and completed a leveraged buyout of Progressive.
Progressive, now one of the nation’s largest auto insurers, holds over 13 million policies. They also provide home, life, pet, and other insurance through select companies.
Their reputation as an innovator is due to being the first to offer a website for customers to purchase policies online, as well as 24/7 claims reporting.
Do customers trust Progressive Insurance for their homeowner’s insurance needs?
Progressive has below-average ratings for claims satisfaction and overall customer satisfaction from J.D. Power.
Progressive also has some negative reviews from BBB customers, who report problems with service, payments, and claims.
Progressive has an average complaint index from the NAIC and a high rating for financial strength from AM Best.
Progressive also scored well in Zebra’s Customer Satisfaction Survey, ranking in the top five for ease of use, customer service, and online satisfaction.
Therefore, customers may trust Progressive Insurance for their homeowner’s insurance needs if they value affordability, convenience, and customization, but they may also encounter some issues with claims handling and service quality.
Can policyholders easily file claims with Progressive Insurance for home damages?
Policyholders can easily file claims with Progressive Insurance for home damages through various methods.
They can call 1-800-776-4737 and provide their policy number and some basic information about the damage.
They can also log into their online account or use the Progressive mobile app to report a claim.
Progressive will then connect them with the specific company that underwrites their policy, who will handle their claim and explain their coverage and deductible.
The insurer will create an estimate based on photos, receipts, or an inspection of the home, and send a payment to the policyholder for the estimated amount (minus the deductible).
The policyholder can use any contractor or repairer they like to fix their home. Progressive offers 24/7 customer service and claims to report for convenience.
What are the benefits of choosing Progressive Insurance for your homeowner’s policy?
Some of the benefits of choosing Progressive Insurance for your homeowner’s policy are:
- You can compare quotes and coverages from multiple providers using Progressive’s HomeQuote Explorer tool.
- You can save an average of 5% when you bundle your home and auto insurance with Progressive.
- You can customize your coverage with several add-on options, such as water backup, personal injury, and increased limits on valuables.
- You can access 24/7 customer service and claims reporting through Progressive’s website, mobile app, or phone number.
- You can use any contractor or repairer you like to fix your home after a covered loss.
- You can get a limited lifetime guarantee for repairs if you use a network repair shop.
Is Progressive Insurance known for offering competitive rates for homeowner’s coverage?
Progressive Insurance is known for offering competitive rates for homeowner’s coverage, especially when customers bundle their home and auto insurance with Progressive.
Progressive also allows customers to compare home insurance quotes and coverages from multiple providers using its HomeQuote Explorer tool, which can help them find the best deal for their needs.
However, Progressive’s homeowners insurance rates may vary depending on the type of coverage, the features of the home, and the location of the property.
Therefore, it is advisable to get a personalized quote from Progressive or other insurers to see how their rates compare.
Do customers have the option to customize their homeowner’s insurance policy with Progressive Insurance?
Yes, customers have the option to customize their homeowner’s insurance policy with Progressive Insurance.
Progressive offers several add-on options that customers can choose to enhance their coverage, such as water backup, personal injury, increased limits on valuables, and identity theft protection.
Customers can also adjust their deductible amount and select the replacement cost or actual cash value option for their personal property.
However, Progressive does not allow customers to customize their preferred policy limits easily.
Instead, Progressive estimates the value of the home and provides a range of prices from the underwriters available in the area.
Therefore, customers may want to compare different quotes and coverages from Progressive’s HomeQuote Explorer tool to find the best policy for their needs.
