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Progressive Insurance Profile
Progressive is one of the most popular car insurance companies in the United States, ranking fourth for market share in 2014. Competing with both agent-driven insurance companies like Allstate and direct-buy companies like GEICO, Progressive straddles the line between the two approaches to selling insurance.
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Progressive insurance was founded in 1937 in Ohio, with headquarters in a suburb of Cleveland. The company went public in 1971 and saw a lot of growth in the following decades.
Progressive was one of the first insurance companies to really use the Internet to sell policies, offering quotes online and over the phone before most other companies. They also stood out from the crowd by offering quotes from other companies along with their own rates, a practice they continue today.
Progressive has used a very popular spokesperson, Flo, and also offers some unusual options, such as the “Name Your Price” policy. These things have kept Progressive among the most popular insurance companies in the U.S.
Progressive is best known for auto insurance, but also offers a range of other personal lines products. They cover specialty vehicles like ATVS, motorcycles, and RV’s, and provide home, life, and other coverage through associated insurance companies.
Progressive also offers business insurance and commercial auto for the commercial market.
Auto insurance is by far Progressive’s best-known product. Their “Name Your Price” policy allows customers to enter their budget and receive a quote with coverage that fits that budget. They also offer usage-based insurance options, Concierge Claims Service, and a Loyalty Rewards program for their policyholders.
Progressive has a reputation for being a friendly and down-to-earth company, but has its share of negative reviews and complaints. As a company that offers policies through both agents and directly, Progressive appeals to a large customer base – both those who want the personal service of an agent and those who prefer to shop online or over the phone.
Progressive doesn’t quite live up to all of its service promises, ranking only as average in the annual J.D. Power study for 2014. Overall, however, the company has a fairly good reputation.
Quoting with Progressive
Progressive makes quoting easier than just about any other insurance company. There are options for online and phone quoting as well as the option to choose an insurance agent or broker to obtain quotes in person.
Progressive’s system allows the customer to see a group of quotes from Progressive as well as from other companies right on their own page, which his unusual among insurance companies.
Customers can also choose the “Name Your Own Price” quoting option in order to get a quote that fits their budget. This system requires a little closer attention to the coverage choices to ensure needed coverage isn’t being cut to meet the budget.
Will Progressive Come to Canada?
Progressive has shown no sign of expanding their services into Canada, but as one of the top five insurance companies in the U.S. it is possible that they could make the move in the future. Progressive is a likely candidate to join the other U.S. insurance companies that have opened operations in Canada due to their popularity and flexible product options.