Progressive car insurance review and ratings 2024

Our take: Progressive Insurance, the second-largest auto insurance company in the country, is more expensive on average than two of its three largest competitors. It is also rated highly for its usage-based insurance options and online shopping experience. The insurer earned a grade of C from body shops for how well it handles the claims process for accident repairs, on par with or better than other large insurers. However, according to J.D. Power, it ranks below average for customer claims satisfaction.

When deciding on an insurer, says Lauren McKenzie, an A Plus Insurance broker/agent based in Sierra Vista, Arizona, “ensure the company is financially stable, has top-rated customer service, and offers affordable coverage with reputable claims handling. Opting for the cheapest option without adequate research can lead to frustration, particularly with claim settlements.”

She advises consumers to obtain quotes from multiple insurance companies and check for fees, such as cancellation fees, before choosing an insurer. By following a few guidelines, “drivers can make well-informed decisions and select the best insurance policy for their needs.”

How we compared Progressive car insurance

To perform our review of Progressive we looked at a series of industry benchmarks, including the annual J.D. Power customer satisfaction survey, the AM Best ratings for financial stability, the CRASH Network’s annual survey of body shops nationwide and the insurer’s record for complaints with the National Association of Insurance Commissioners (NAIC).

We then looked at what often matters to consumers the most – how cheap were its car insurance premiums compared to major competitors. Here’s how well it fared compared to its three largest competitors, Allstate, Geico and State Farm.

Progressive versus other top auto insurers

Who are the biggest auto insurers?

The U.S. auto insurance sector is massive by any scale, but four companies claim an outsized percentage of the market. Together, Progressive, State Farm, Geico and Allstate control about 56% of the market. Progressive ranks as the second-largest private auto insurer with approximately $48 billion in premiums written in 2023, behind State Farm’s $58 billion, according to the NAIC.

How do Progressive’s rates compare to other top insurers?

Among the leading four car insurance companies, Progressive’s average annual rate is relatively high. Its sample yearly premium of $549 for a liability-only policy is almost $150 more than Geico, the cheapest of the four insurers we looked at.

The rates below were collected from auto insurance comparison site CarInsurance.com for single, 40-year-old male and female drivers of a 2023 Honda Accord LX with a good insurance score and no violations on their record for the following: state minimum liability insurance, standard liability with coverage limits of 50/100/500, and full coverage with liability limits of 100/300/100 and a $500 comprehensive and collision deductible.

How does Progressive rate in claims satisfaction?

Insurance premium rates are important to consumers, but so is fast claim resolution after your car has been damaged. We looked at two major comparisons on how the top four auto insurers performed on this front.

In J.D. Power’s annual Auto Claims Satisfaction Survey, Progressive scored 672, ranking it fourth among the top four insurers for auto claims satisfaction. State Farm had the highest mark, a score of 710, followed by Geico (692), then Allstate (691). The study average was 697.

The CRASH Network performs an annual survey of national body shops to rate their experiences in working with auto insurers on claims. Specifically, it asks body shops, “How well does this company’s claims handling policies, attitude, and payment practices ensure quality repairs and customer service for motorists?”

In its 2024 rating, none of the largest auto insurers cracked the top 10 rankings (the North Carolina Farm Bureau received the highest A+ grade). Progressive's C grade was the best any of the Big Four could do. State Farm and Geico were given C-minus grades, while Allstate only managed a D+.

What is Progressive’s financial stability?

Insurance is all about peace of mind, so you want to know your insurance provider is financially stable and will be there for you when you need it.

Credit rating agency AM Best provides research reports and credit ratings on some 16,000 insurance companies worldwide. It grades them on their ability to pay claims, debts and meet other financial obligations.

All the major insurers have high grades with AM Best. State Farm and Geico are highest at A++, while Progressive and Allstate have solid A+ ratings.

Does Progressive receive a lot of complaints?

J.D. Power rates Progressive better than average for customer service via its online offerings. Based on customer complaints filed with the NAIC, the insurer performs much better than average.

The NAIC rates companies based on how many complaints are filed with the commission. A score of 1.0 means it received complaints that are the same as the industry average, while a score higher than 1.0 means it received a higher-than-average number of complaints, and a score below 1.0 indicates fewer complaints than the benchmark.

Progressive’s score was 0.65, which is much better than the industry benchmark. By comparison, Allstate had the same score of 0.65, State Farm 0.7, and Geico 0.91, which means all had good track records.

What is Progressive’s digital shopping experience like?

In its annual U.S. Insurance Digital Experience Study, J.D. Power compared consumers' opinions of the major insurers' online experiences, both in terms of service and shopping. 

Progressive fared better than the industry average and was the best among the major insurers for online shopping experience. It received an online shopping score of 533 and an online service score of 722.

How is Progressive for shopping in general?

J.D. Power says consumers increasingly interact with their insurers online, but some still prefer to do their shopping the old-fashioned way – by talking to people.

In its annual U.S. Insurance Shopping Study, Progressive scored 678, a hair above the average of 676. Only State Farm did better among the four top carriers, scoring 695.

Is Progressive good at offering usage-based insurance?

Usage-based insurance allows insurance companies to monitor your driving behavior and set your insurance premiums accordingly. According to J.D. Power’s annual U.S. Auto Insurance Study, Progressive scored 816, below the segment average of 821 and the lowest among the four carriers.

Through its Snapshot program, a mobile app or an in-car device continually streams your driving information to Progressive’s servers. It watches for things like how fast you accelerate, whether you’re prone to hard braking, how much driving you do, and at what time of day.

Progressive says that by using the Snapshot app, drivers will save an average of $232 a year. Of course, if Progressive determines you’re an aggressive driver, prone to speeding and driving a lot, it could have the opposite effect and lead to higher premiums.

Key offerings by Progressive

A Progressive auto insurance policy includes all the basics plus a few add-on options. Progressive liability insurance coverage will meet all state requirements, with the option to increase your limits. A Progressive full coverage policy includes liability and adds both comprehensive and collision.

It’s worth noting that Progressive collision coverage includes injuries to your pet, which is uncommon among insurers.

Other options you can add include:

• Uninsured/underinsured motorist (required in some states)
• Personal injury protection and medical payments (required in some states)
• Loan/lease payoff
• Rental car reimbursement
• Custom parts and equipment
• Rideshare coverage
• Roadside assistance

Making the choice: Why go with Progressive?

If you’re looking for an insurance company with a national footprint and that can also meet your other insurance needs, such as home and renters insurance, then Progressive is a strong choice.

It’s financially sound, has a good customer service rating, innovative usage-based insurance offering and is quicker to adopt online tools and resources.

Before you sign up: Things to consider

Progressive’s rates are not the cheapest, so you’ll want to take advantage of as many discounts as you can. Among the more popular discounts offered: bundling policies, taking a defensive driver course, or insuring multiple vehicles. Another plus is its online shopping tool, which provides several options for getting a quote.

Progressive Car Insurance – Our expert verdict

While Progressive’s rates aren’t the cheapest, its size and continued growth indicate customers are generally happy with the company and are staying loyal to it. That’s probably the strongest indicator that it’s a company you should consider for your car insurance needs.

Methodology

Editors collected rate information from auto insurance comparison site CarInsurance.com for single, 40-year-old male and female drivers of a 2023 Honda Accord LX with a good insurance score and no violations on their record for full coverage insurance policy with liability limits of 100/300/100 and a $500 comprehensive and collision deductible.

In addition, we also calculated rates for these hypothetical drivers, but with one or more of the following on their record: speeding ticket, at-fault accident, DUI/DWI, poor credit history, or a lapse in coverage.

We analyzed more than 53 million quotes, over 34,000 ZIP codes, and 170 insurance companies nationwide.

Note: 100/300/100 means up to $100,000 for the medical bills of those you injure, up to $300,000 per accident for bodily injury liability for all persons injured in one accident, and $100,000 to repair other drivers’ cars and property you damage.

AM Best’s Financial Strength Ratings (FSRs) are an independent assessment of an insurer’s financial strength and ability to meet its policy and contract obligations. Best’s FSRs are based on a graded scale from A++ (Superior) to D (Poor). For more information, visit AM Best’s ratings guide. For the latest AM Best credit ratings, visit www.ambest.com 

The National Association of Insurance Commissioners (NAIC) Complaint Index analyzes consumer complaints submitted to state insurance departments. The Complaint Index is used to compare a company’s performance to others in the market. The National Complaint Index is benchmarked at 1.0. For example, a company with a score of 2 has a complaint index that is twice as high as expected in the market. A company’s complaint index score is determined by dividing the number of complaints by its share of premiums in the U.S. market. 

J.D. Power is a marketing, consumer intelligence, and data and analytics company that publishes a variety of studies on the insurance industry and carriers. The rankings included in this story originate from JD Power’s 2024 U.S. Insurance Digital Experience Study, 2024 U.S. Insurance Shopping Study and 2023 U.S. Auto Insurance Study.

CRASH Network’s Insurer Report Card is an annual survey of more than 1,100 collision repair professionals nationwide. Participants awarded each company a grade from A+ to F based on this question: “How well does this insurer's claims handling policies, attitude and payment practices ensure quality repairs and customer service for motorists?” Those polled also indicated whether or not they participate in that insurer's direct repair program.