A look at Progressive Insurance rating – how strong is this industry giant?

Progressive Insurance is the second-largest auto insurance company in the US as of 2024, trailing only industry giant State Farm. According to our research, Progressive’s market share in the auto insurance segment currently stands at 8.35 percent. Given its enviable position in the US auto insurance market, there is a higher chance that Progressive will be recommended by insurance professionals and sought after by consumers.  

That’s why it’s important for insurance brokers, agents, and consumers to check Progressive’s insurance rating and reviews like this one. So, is the insurer reliable? How did it fare according to insurance rating agencies? In this review, Insurance Business provides a closer look at Progressive Insurance to help you make informed decisions.  

Progressive Insurance financial strength ratings (FSR) 

For insurance professionals and those looking for the best insurance products, it helps them to look at their insurance industry ratings. Generally, the four insurance ratings companies and their ratings to look at consist of:  

• AM Best 
• Fitch  
• Moody’s 
• S&P Global (Standard & Poor’s)  

Below is a table showing the latest ratings of Progressive by each of these insurance ratings companies: 

Progressive Insurance Ratings by insurance rating companies 

For a more detailed explanation of each of these agencies’ ratings and their methodologies for arriving at the FSR for Progressive, you can look up our guide to insurance ratings companies and their importance. 

The status of Progressive as America’s second-largest auto insurance company is no accident as you can see in its insurance rating. Its coveted position is the result of years of consistently delivering innovative, industry-leading products and services.  

Progressive auto insurance coverage 

As with most other car insurance companies, Progressive offers a wide range of auto insurance products. If your clients are seeking minimum required insurance or full coverage, the insurer has many coverage options.  

Progressive minimum coverage 

The minimum auto insurance required by most US states (except New Hampshire) often includes: 

• Bodily injury liability – covers medical bills and lost wages to those injured by the policyholder who is at fault for the accident 

• Property damage liability – covers damage to property of others, if caused by the policyholder 

• Underinsured/uninsured motorist liability – this coverage takes care of repair costs and medical expenses up to a certain amount, if the driver at fault does not have or has insufficient insurance 

• Personal injury protection – this covers the policyholder's medical bills, lost wages, and death benefits (if it comes to that) regardless of who is at fault for the accident 

Progressive full coverage 

Full coverage typically means that a policy includes minimum liability insurance and other state-required insurance, along with: 

• Collision coverage – replaces or repairs the policyholder’s vehicle, regardless of who is at fault 

• Comprehensive car insurance – repairs or replaces the insured vehicle if damage is caused by other non-collision-related causes like fire, theft, vandalism, or bad weather 

• Medical payments coverage – pays for medical expenses up to a certain amount, regardless of who is at fault 

Progressive special coverage 

There are a couple of special types of coverage Progressive offers:  

Custom parts and equipment coverage 

This is handy if your client modified or customized their vehicle with a high-end sound system, custom wheels or an aftermarket turbocharger. This policy can cover these special custom parts or performance modifications.  

Roadside assistance 

This comes optional with every standard auto insurance policy from Progressive. Roadside assistance can be invaluable for clients who often go on long road trips. Coverage includes: 

• towing services 
• jump-starting dead batteries 
• tire changes 
• lockout assistance 
• fuel delivery 

This optional cover is also available for cars, motorcycles, and RVs.  

What is the average cost for auto insurance from Progressive? 

The average cost of auto insurance from Progressive can vary from state to state and by coverage type, but can generally fall within these categories and cost ranges:  

Cost of liability-only policies 

According to its website, Progressive’s average monthly cost ranges from around $79.83 in low-cost states to $157.27 in high-cost states, based on a six-month policy.  

Cost of full-coverage policies 

For this type of coverage, Progressive’s annual average premium is $1,960 or $163 per month. According to other sources, this is approximately 18 percent lower than the national average of $2,399 a year.  

Progressive’s insurance premiums are generally competitively priced and lower than the national average. Prices, however, can vary significantly depending on factors like a person's driving history, location, vehicle type, and coverage level.  

Progressive auto insurance rates for high-risk drivers 

Unfortunately, for drivers that are rated as high-risk, Progressive’s car insurance premiums will be relatively higher. The only exception for high-risk drivers is for those who have a DUI conviction on their record. When compared to Progressive, these drivers can save around 29 percent on minimum coverage and 12 percent on full coverage with the insurer.  

Progressive car insurance premiums compared to the national average (minimum coverage) 

Progressive car insurance premiums compared to the national average (full coverage) 

Average Progressive car nsurance cost by age 

As drivers age, Progressive’s premium rates match or are slightly lower than the national average.  

Minimum coverage cost by age 

Full coverage cost by age 

Progressive auto insurance discounts 

When it comes to discounts, Progressive offers a total of 13 different types of discounts to policyholders. The number of discounts offered is a few less than what other top competitors offer. Progressive’s usage-based discount program Snapshot is probably the best way for policyholders to save on premiums.  

The company claims that Snapshot can have average yearly savings of as much as $231 on their premiums if they practice good driving habits. These are some of the other popular discounts that Progressive offers on their auto insurance:  

• Distant student – this is for full-time students who attend school without a car, and the school is over 100 miles away from home 

• Good student – discounts for full-time students who have at least a B as their average grade 

• Multi-car – this discount applies to policyholders with multiple cars insured by Progressive 

• Multi-policy – gives savings to policyholders who bundle different types of Progressive coverage 

• Payment discounts – are provided when a policyholder goes paperless, gets an online quote, pays their policy in full, or enrolls in autopay 

• Teen driver – gives discounts to families with drivers aged below 18 on their insurance policy 

You can get more practical tips and strategies on how to get cheap car insurance in this guide.  

Progressive home insurance 

Our research team has found that Progressive’s home insurance is not the cheapest home insurance you’ll find on the market. However, it is still a considerably good option for those seeking affordable home insurance.  

In many cases, Progressive’s home insurance is considered affordable and well-priced by industry standards, especially when discounts are applied. Coverage is in the mid-range of home insurance prices, and offers good value, particularly for clients looking for competitive rates and bundling options.  

Regardless of whether you choose Progressive or another home insurance provider, we recommend comparing quotes from several insurers to find the best deals.  

Home insurance options from Progressive 

Progressive offers the standard coverage for homeowners, and includes the following:  

• Dwelling coverage – this pays for damage to the policyholder's home and anything else that’s permanently attached to it, such as the roof, chimney, garage, countertops, and cabinets 

• Loss of use – if the insured home is rendered uninhabitable due to a covered event, this covers expenses for the household’s rent, hotel, and food expenses  

• Personal possessions – this covers any personal items that are stolen or damaged due to a covered event. Possessions covered can include electronics, clothes, furniture, and power tools. These are covered even if they are not directly stored in the policyholder’s home  

• Personal liability – pays legal expenses if a third party sues the policyholder or family member for injuries or property damage 

• Medical payments – this coverage pays for medical bills if someone else is hurt at the policyholder’s home or on their property  

• Other structures coverage – protects other unattached structures on the policyholder's property like separate garages, tool or garden sheds, decks, patios, and fences 

Average cost of Progressive homeowner insurance 

The average annual premium for Progressive home insurance is about $729 per year for $350,000 worth of dwelling coverage, which is the benchmark for several sources. Premiums for this coverage amount to approximately $61 per month.  

Comparing the national average (as of July 2025) of between $2,100 and $2,466 a year ($175 to $206 per month), Progressive’s home insurance is considerably lower-priced. This makes Progressive’s average home insurance premiums among the most affordable options on the market.  

Note, however, that the average cost of homeowners’ premiums can still vary widely by state, deductibles, dwelling size, claims history, and other factors.  

Progressive home insurance discounts 

Progressive offers a range of different discounts for their home insurance, much like other insurers. These are some ways that your clients can get discounts on homeowners' insurance from Progressive: 

• Safety and alarms discount – policyholders can get discounts on their home insurance by installing burglar or alarm systems or other security systems  

• Home and auto bundling – clients who avail themselves of both auto and home insurance from Progressive can get bundling discounts  

• Quote in advance – shopping at least 10 days before the policy’s start date gives discounts 

• Documents by email – choosing to receive policy documents via email (paperless) can give savings 

• New purchase – new home buyers or those who switch to home insurance from an active renters’ policy qualify for this special discount 

• New home construction – similarly, those who have built a new home or have a new home under construction can get discounts on their Progressive premiums  

• Pay-in-full discount – clients who choose to pay the full 12 months of premiums up front will get a discount 

Savings from discounts on minimum coverage 

Savings from discounts on full coverage 

The cost of the home covered is an important factor in the cost of Progressive homeowners’ insurance. These are the different average costs of Progressive premiums based on certain factors: 

Cost of Progressive premiums based on dwelling size 

Cost of Progressive premiums based on claims history 

Cost of claims based on credit score 

About Progressive Insurance 

Founded in 1937 and headquartered in Mayfield, Ohio, Progressive Insurance is one of the largest and most innovative insurers in the US. Progressive is more commonly recognized among the top auto insurance providers in the country. 

Although the company is famous for its auto insurance, Progressive also offers a wide range of products, including motorcycle, boat, homeowners’, renters’, and business policies. The company operates through both direct-to-consumer channels and over 40,000 independent insurance agencies across America.  

Progressive is known for its innovative approach to insurance. Drive-in claims service, installment payment options, and 24/7 claims reporting were all pioneered by Progressive. The company was even the first major insurer to have a website.  

Today, Progressive continues to rank consistently among the top auto insurers in the US in terms of market share, premiums written, and other key industry metrics. If you want information on these, you can visit and subscribe to our IB+ Data Hub.  

Additionally, as of March 2024, AM Best affirmed the high financial strength ratings of the Progressive Insurance Corporation and its member-subsidiaries in this report. 

Progressive insurance availability 

For its major product lines, including auto, commercial auto, and business insurance, Progressive insurance is available in all 50 US states. Its nationwide availability means that insurance brokers can confidently recommend the insurer's products to their clients regardless of where they are located.  

A look at Progressive’s product availability 

Note that Progressive also offers other insurance products like Snapshot, a usage-based insurance product, but may not be available in all states due to local regulations. Generally, Progressive's insurance products remain widely accessible.  

Does Progressive offer flood insurance? 

The flood coverage offered by Progressive only covers water damage due to water backup from faulty pipes or sewer lines. Insurance for floods caused by weather events is covered by a separate insurance policy or by the National Flood Insurance Program (NFIP). A separate policy for floods should be considered, since 9 out of 10 US homeowners don’t have enough flood insurance.  

Some types of coverage may be required by your state’s laws. Use this guide to know which insurance policies are mandatory in your location.  

What do customers say about Progressive Insurance? 

Apart from looking at the financial reports and financial strength of insurance companies like Progressive, evaluating the company from a customer perspective is essential to make informed decisions. After going through hundreds of Progressive insurance ratings and reviews from the Better Business Bureau, Google and other sources, here’s what our research team found:  

Customer complaints 

The National Association of Insurance Commissioners (NAIC) has concluded that Progressive has a number of customer complaints that nearly match the expected industry average. JD Power enacted a customer satisfaction study on Progressive and rated it below average when it came to its customer claims. In that study, Progressive scored 635 out of 1000 points.  

Claims processes 

As revealed by some home insurance surveys and customer service surveys, Progressive’s home insurance lines up with the national average rates for claim approvals and claim processing. However, this does not apply to Progressive's auto insurance. Progressive insurance ratings for auto claims fall behind the national averages in terms of percentages of claims approvals and the time it takes to approve claims.  
 

Progressive Corporation’s funding strategies 

Progressive is a stable insurance company with strong financial ratings and innovative funding strategies. The group has secured several hundreds of millions of dollars in capital funding by issuing a type of bond called senior notes. With these unsecured forms of debt, Progressive Insurance can raise around $500 million in capital in each maturity date. Progressive’s funding strategy can further bolster its financial strength and insurance rating.  

These are the schedules for their senior notes:  

All these notes are unsecured debt, meaning they have priority over subordinated debt, but not supported by specific collateral. These notes are part of Progressive’s capital structure and financing strategy.  

Should you choose Progressive Insurance? 

After looking at Progressive Insurance ratings in consumer reports, national averages for claims approvals, turnaround rates, and other customer-facing factors, the consensus is that Progressive is still a viable option for home or auto insurance.  

Progressive has also often demonstrated strong financial strength as indicated by Progressive Insurance’s AM Best rating and its ratings by other insurance rating companies. The only caveats are that Progressive’s auto insurance claims can take longer to approve than the industry average, their claims approval rate is slightly lower than the industry average, and there are some issues with their customer service. But overall, Progressive remains a good insurance option for your clients.  

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