Progressive Home Insurance offers comprehensive coverage for your home and belongings. With options like dwelling coverage, personal property protection, and liability insurance, Progressive can help safeguard your assets from unforeseen events.
Founded in 1937, the company initially focused on providing affordable car insurance to underserved drivers. Over time, Progressive expanded its offerings to include home insurance, motorcycle insurance, and other personal lines. It’s a well-established company with a strong reputation in the insurance industry and is generally considered reliable. However, like any insurance provider, individual experiences can vary.
Progressive Home Insurance Review
Customer Reviews
Progressive Home Insurance generally receives positive customer reviews, with many customers praising its competitive rates, convenient online tools, and helpful customer service. However, as with any insurance provider, there are some negative reviews, primarily related to claim handling and customer service issues.
Financial Stability
Progressive has a strong financial rating, which indicates its ability to pay claims. Progressive’s financial stability is a positive indicator of its reliability as an insurance provider. Some factors contributing to their financial strength are:
- Strong capital position: Progressive maintains a substantial amount of capital, which provides a financial cushion to absorb losses and invest in growth.
- Diversified business: Progressive’s business is diversified across multiple lines of insurance, which helps to spread risk and mitigate the impact of fluctuations in any single market.
- Effective risk management: Progressive has a robust risk management framework to identify and manage potential risks, helping to protect its financial stability.
Coverage Options
Progressive Home Insurance offers a variety of coverage options to protect your home and belongings. Here are some of the key features:
| Coverage Option | Description |
|---|---|
| Dwelling Coverage | Covers the structure of your home |
| Personal Property Coverage | Covers your belongings inside your home |
| Liability Coverage | Protects you from lawsuits |
| Loss of Use Coverage | Covers additional living expenses |
| Water Backup Coverage | Covers damage caused by water backup |
| Identity Theft Coverage | Helps protect you from identity theft |
| Earthquake Coverage | Covers damage caused by an earthquake |
Discounts
Progressive offers various discounts, which can help you save money on your premiums. These discounts may vary depending on your specific situation and location. It’s always recommended to contact Progressive directly for the most accurate and up-to-date information.
Homeowner Discounts
| Discount Type | Description |
|---|---|
| Bundle Discount | Combine home and auto insurance for a discount. |
| Home Security Discount | Install a security system for a discount. |
| Claims-Free Discount | Receive a discount for having no claims. |
| Renewal Discount | Renew your policy for a discount. |
Other Discounts
| Discount Type | Description |
|---|---|
| Paperless Billing Discount | Opt for electronic billing for a discount. |
| Automatic Payment Discount | Set up automatic payments for a discount. |
| Multiple Policy Discount | Insure multiple properties with Progressive for a discount. |
| Senior Discount | For policyholders over a certain age. |
| Student Discount | For college students living away from home. |
Claims Process
Filing a claim with Progressive Home Insurance typically involves the following steps:
- Contact Progressive: Reach out to Progressive as soon as possible after the loss occurs. You can contact them by phone, online, or through your insurance agent.
- Provide details: Be prepared to provide information about the incident, including the date, time, and location. Describe the damage and any steps you’ve taken to protect your property.
- Inspect the property: A Progressive claims adjuster will likely inspect your home to assess the damage. They will take photos and document the extent of the loss.
- Provide documentation: You may need to provide supporting documentation, such as receipts, photos, or repair estimates.
- Negotiate settlement: The adjuster will work with you to determine the amount of compensation you are entitled to.
- Receive payment: Once the claim is approved, Progressive will issue a payment to cover the cost of repairs or replacement.
Tips for a smooth claims process:
- Document everything: Take photos and videos of the damage before making any repairs. Keep detailed records of all expenses related to the loss.
- Be honest: Provide accurate information to Progressive to ensure a timely and fair settlement.
- Cooperate with the adjuster: Follow the adjuster’s instructions and provide any requested documentation promptly.
- Understand your coverage: Review your policy to understand your coverage limits and deductibles.
Progressive Home Insurance Rates
Progressive Home Insurance is one of the best cheap home insurance companies. A standard policy with $350,000 in dwelling coverage’s average annual rates for Progressive Home Insurance is $750. But the average rates of the same policy is much higher at other competitors, such as $1,160 at Nationwide, $1,270 at Erie, $1,300 at State Farm, $1,800 at Chubb and $2,050 at Farmers.
Rates can vary significantly based on several factors, including:
- Location: Geographic location influences rates due to factors like natural disaster risk and property crime rates.
- Home type: The size, age, and construction materials of your home affect your rates.
- Coverage level: The amount of coverage you choose will impact your premium.
- Deductible: A higher deductible generally results in lower premiums.
- Discounts: Your eligibility for discounts (as listed in a previous response) will also influence your final rate.
Here’s the average annual rates for Progressive Home Insurance based on different coverage levels in 2024:
| Coverage Type | Average Annual Cost |
|---|---|
| Dwelling Coverage ($200,000) | $500 – $900 |
| Dwelling Coverage ($350,000) | $750 – $1,650 |
| Dwelling Coverage ($500,000) | $1220 - $2100 |
| Dwelling Coverage ($750,000) | $1800 – $3100 |
Pros and Cons of Progressive Home Insurance
Whether Progressive Home Insurance is worth the money you paid depends on several factors, including your specific needs, the coverage you received, and your overall experience with their service. Here are Some of the Pros and Cons of Progressive Home Insurance:
Pros
- Competitive Rates: Progressive offers some of the most affordable home insurance rates compared to other major insurers.
- Multiple Discounts: You can benefit from various discounts, such as bundling with auto insurance, claim-free discounts, and discounts for home updates.
- Name Your Price Tool: This tool allows you to set your budget, and Progressive will find coverage options that fit within that price range.
- High Claims Approval Rate: it has a good track record for approving claims.
- Bundling Options: If you already have Progressive auto insurance, you can save more by bundling it with home insurance.
Cons
- Coverage Options: They does not offer increased dwelling coverage, which can be a drawback for homeowners in disaster-prone areas.
- Third-Party Underwriting: Many of Progressive’s home insurance policies are underwritten by third parties, which means you might have to deal with another company for claims.
- Banned Dog Breeds: In some states, Progressive has a list of banned dog breeds, which can make it difficult for dog owners to get coverage.
- Customer Service: Progressive’s customer service ratings are average to below average
Progressive Home Insurance Customer Reviews
Positive Reviews
- Although it was a very stressful time for me, Progressive made the claim and process seamless! I have had it for a long time and they have never disappointed! Great Insurance Company!
- Great company. Custom service was great after Ian, even though they seemed overwhelmed. But that’s understandable.
- Progressive is the only homeowner insurance company in Louisiana that I know of that has a $500 or $1,000 deductible on hurricane damage or named tropical storms. All other insurance companies charge you 2% of the value of your home for the deductible and 1% deductible on other perils.
- This company is great 👍☺️ people is so professional, prices are very good 👍 and customer service is nice.
- Between home and auto, saved like 40%. Can’t beat it.
- They are so easy to work with and knowledgeable about what I needed!
- If you’re looking for an insurance. These guys are the best
- I called re a letter I had received. They very professional in answering my question concerning letter.
Negative Reviews
- one star is to many for this scam of a company. storms damaged my roof and my premium jumped 2k.
- It took them over three months to let me know that my policy was not being taken out of escrow. Veterans United never notified me, or Progressive that they sold my loan, and never told Progressive. I cannot read minds.
- Hung up on after being told they doesn’t offer home insurance to me for reasons that were less than clear. Probably a rip off, watch them very closely. Progressive’s interests are not it’s customers.
- Been with this company for 5 years, recommended by USAA, they raised my home owners insurance policy, last year $4500, this year it is $6000, went with another company for $1700. What a rip off these people are.
- After nearly 3 years of faithful payments, when it finally came time to speak with them to potentially file a claim, it was so impossible to reach them that I switched companies within 2 hours.
- They don’t care about your situation , they ( the adjuster) only one to close your case . What I being through w this so called Company is inhuman. Sending a letter to the corporate ceo in Ohio
- All agents are assisting other customers. I’m literally just trying to change a damn address.
- They have knuckleheads manning the phones. Don’t even know whether they write policies in a particular state. They want to save money? They should get rid of the people who can’t answer a simple “yes” or “no.” Here’s hoping the next Hurricane Andrew hits their headquarters in St. Pete
