The company was co-founded by Jack Green and Joseph M. Lewi in 1937, and is headquartered in the Cleveland suburb of Mayfield Village, Ohio. Today, Progressive Insurance is one of the largest providers of car insurance in the United States with an estimated 13 million policies in effect. Progressive has 25,000 employees in more than 450 offices throughout the country. Its main competitors include Allstate, Farmers Insurance Group, GEICO, State Farm, Nationwide Insurance, and USAA.
The company can divided into three fragments: Commercial Auto, Personal Lines, and Other-indemnity. The company provides insurance policies for motorcycles, boats/PWC, RVs and commercial vehicles, home insurance, and 17 others through its more than 30,000 independent insurances agencies and website (progressiveagent.com). Progressive has expanded internationally as well, offering car insurance in Australia effective as of 2009. It also offers services such as installation plans for insurance premiums, drive in claims service, and pay as you drive insurance. Overall Progressive Car Insurance is known as one of the most competitive auto insurance providers for policy flexibly, customer service and convenience, and discounts. There are complaints about the reliability of their affiliate car repair and car parts shops however, as well as high prices and reports of low customer satisfaction.
There are notable policies like snapshot. This is a way to receive a 30% discount if they find the driver to meet certain criteria as a safe driver. A small device is installed on the vehicle recording driving habits for 30 days. It records the mileage, what times the driver is hitting the road, and how often drivers are hitting harsh breaks. The criteria is used to measure how likely the driver is prone to getting into an accident. The affiliate car repair shops are part of Progressive’s Claims Centers where a customer can drop of the car and the company will take of the paperwork.
Progressive Corporation is not accredited by the Better Business Bureau. BBB as it’s called is a century old and provides a history of customer complaints and how they are handled. BBB ultimately allows for more transparency into the company, why they aren’t included is anybody’s guess.
A.M. Best which is a company that provides credit ratings for the insurance industry specifically has given the company an A+(Superior) rating. This rating is meant to assess the insurer’s ability to meet its commitments to their policyholders by using the company’s balance sheets, comparisons to competitors and industry standards, ranking operating performance and business model of the company.
Progressive offers Competitor Comparison feature. It is essentially a menu that compares rates between leading insurance companies and provides insurance estimates. But this feature has been called into question in terms of accuracy. Many believe that Progressive could be reverse engineering the quotes to come to a better estimate that swings in their favor. This tool has been very handy in gaining customer despite the fact that the most accurate estimate is the one a consumer gets from the agent.
Ultimately the best way to find the best insurance provider is to find out the different rates and compare products and services offers by each.