3.4 / 5

Progressive Homeowners Insurance Review

Progressive homeowners insurance is among the most comprehensive and affordable in the industry. However, Progressive doesn’t underwrite their policies, so if you file a claim for a loss you won't be working with Progressive directly.

Anna Swartz 1600

By

Anna Swartz

Anna Swartz

Insurance Expert

Anna Swartz is a Managing Editor at Policygenius, specializing in auto insurance. Her work has appeared in Mic, The Dodo, AOL, MSN, HuffPost, Salon and Heeb.

Published November 25, 2020|7 min read

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Progressive

OVERALL

3.4

THE GOOD

    You can almost always find a policy in your price range

    Excellent web and mobile interface

    Offers extended replacement cost home structure coverage

THE BAD

    Quality of claims handling may vary from customer to customer

    Progressive's homeowners insurance perks are limited

THE BOTTOM LINE

When it comes to homeowners insurance, Progressive acts as a broker, offering policies underwritten by partnering companies as opposed to writing the policies themselves. This means you'll find a wide array of standard coverage options when you apply for homeowners insurance through Progressive, and their coverage tends to be more affordable than many competitors.

But when it’s time to file a claim, you won't be working with Progressive directly. Instead, you'll have to go through the partner that underwrote your policy, so claims service and satisfaction can vary.

Cost

Average annual premium cost for a medium-sized home.

8.0

Confidence

Financial ratings from credit rating agencies.

9.2

Customer ratings

Satisfaction from consumer sentiment institutions and complaints to state insurance boards.

7.0

Policy options

Both the quality and number of coverage options, like unique homeowners insurance product tiers and availability of certain coverage endorsements.

3.8

Customer experience

Ease of use, convenience, availability, and claims ratings.

6.6

PROGRESSIVE COMPANY SPOTLIGHT

3 of 5

J.D. Power surveys rate based on product offerings, price, billing process, interaction, and claims. An overall satisfaction score of 4 denotes a company “better than most".

J.D. Power Rating

A trusted customer satisfaction and product quality research agency

A+

An A- denotes a score between 90 and 94 (out of 100) based on 13 criteria, including unanswered complaints, type of business, and government action.

BBB Rating

A nonprofit organization focusing on marketplace trust and product quality

A+

A.M. Best ratings range from A++ to D. An A+ rating denotes a "superior" company based on their ability to meet ongoing insurance obligations.

A.M. Best

100-year-old U.S. credit rating agency focused on the insurance industry

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The Bottom Line

The quality of Progressive’s homeowners insurance improved drastically after they acquired American Strategic Insurance (ASI) in 2014. Before that, they were primarily brokering Homesite policies, which offers affordable insurance products but with less-than-satisfactory coverage and claims ratings. With ASI, Progressive has both broadened their reach (they’re now available in all 50 states) and improved their coverages while still offering the low rates you’ve come to expect from this insurance leader. Progressive’s suite of home insurance packages, called Progressive Home Advantage, gives you options for high coverage limits, additional protection, and high sublimits on expensive valuables, at competitively low rates. However, the base home insurance policies from Progressive are relatively bare bones, and there are no unique or top tier coverage endorsements.

The Details

The Good

You can almost always find a policy in your price range. In addition to offering their own Home Advantage plan, Progressive brokers policies from multiple partnering companies. That underwriting flexibility means you'll see a range of affordable policy options when you apply for coverage.

Excellent web and mobile interface. The Progressive website is well-designed, intuitive, and easy to use. That includes the online quoting tool and the bill-paying and claims-filing sections of the site.

Offers extended replacement cost dwelling coverage. This means you’re covered an extra 25 or 50 percent of your dwelling coverage limit if your home is destroyed and its rebuild cost exceeds the coverage limit in your policy. The higher tiers of Progressive's HomeShield coverage offer increased replacement cost coverage and important coverage add-ons like water backup coverage.

The Bad

Claims handling may vary from customer to customer. Progressive works with several insurers and underwriters, which is great for finding affordable coverage, but might be confusing when it’s time to file a claim.

Progressive's homeowners insurance perks are limited. Customers who use Progressive for homeowners insurance won't necessarily have access to all the perks that come with their other products, such as the Progressive mobile app. If you get your auto insurance through Progressive, you can use the app to start claims and pay bills. But the app and other Progressive-specific services aren't available for homeowners insurance policyholders.

The Breakdown

Cost

Average annual premium cost for a medium-sized home.

8.0

Homeowners insurance rates depend on a number of factors, including your state, ZIP code, and the details of your house. Progressive has some of the more competitive rates in the industry, with an average quoted premium of $1,706 according to an analysis of insurance quotes submitted with Policygenius — slightly higher than the national average of $1,633.

The above average quoted premium is based on a single-family home with around $300,000 in coverage. Your rates will vary depending on your location, any risks associated with your home, and the amount of coverage in your policy.

Discounts

A great way to lower your homeowners insurance costs is to take advantage of discount opportunities.

Common homeowners insurance discounts include a discount for making your home more secure, a discount if you don’t file claims, a discount for new homebuyers, and a bundling discount if you also get your auto insurance through Progressive.

  • Advanced quote discount. Progressive will reward you with a policy credit if you get a quote at least 10 days before the start of your policy

  • Protective devices discount. Save if your home has features like burglar alarms, fire alarms, or automatic fire sprinklers

  • New home discount. Qualify for savings if your home is newly constructed

  • New purchase discount. If you recently purchased your home you might qualify for savings, even if the home itself isn't new

  • Paperless discount. Save if you switch your account to paperless and receive all your policy documents over email

  • Multi-policy discount. If you bundle your homeowners insurance policy with auto, boat, umbrella, or any other type of property insurance

Confidence

Financial ratings from credit rating agencies.

9.2

Your home is likely your most valuable asset, so you want to make sure the company protecting it is in good financial standing. Third-parties agencies rate a company's financial strength, but these ratings are made slightly more complicated because there may be one or several companies underwriting your Progressive homeowners policy.

  • Year founded: 1937

  • Standard & Poor's rating: AA

  • Moody's rating: Aa2

  • A.M. Best rating: A+

Standard & Poor's measures companies' creditworthiness and is used primarily by financial investors and other market stakeholders. S&P is also valuable in measuring the long-term financial stability of insurance companies. A AAA rating is the highest issuer credit rating assigned by S&P, so Progressive's AA rating puts them in the top tier of insurance companies in terms of financial confidence.

Moody's is very similar to Standard & Poors, except rather than measuring a company's ability to remain financially stable and creditworthy, Moody's measures what the expected losses would be if a company were to go into default. It's valuable in analyzing the value of stocks and bonds with certain companies. A AAA rating is the highest possible score you can receive from Moody's, and Progressive's Aa2 rating puts them close to the top of Moody's rankings.

A.M. Best is the most reliable credit-rating tool potential policyholders can use to gauge the financial health of a company. Unlike S&P and Moody's, A.M. Best is focused exclusively on the insurance marketplace. A good score with A.M. Best means a company is more likely to fulfill their financial obligation to you when it’s time to file a claim. With a score of A+, Progressive has close to the highest rating a company can receive from A.M. Best.

Customer ratings

Satisfaction from consumer sentiment institutions and complaints to state insurance boards.

7.0

One of the best ways to get a sense of an insurance company is to check their customer satisfaction ratings through third-party ratings sites. If a large percentage of their customer base reports satisfaction with their coverage, it's usually a good indicator of their customer service.

Progressive has solid customer satisfaction scores and a good rating from the Better Business Bureau, although they have a mixed reputation on consumer review site Trustpilot.

  • J.D. Power: 3 / 5

  • BBB: A+

  • Consumer Affairs: 3.9 / 5

  • Trustpilot: 1.6 / 5

  • Consumers Advocate: 4.7 / 5

  • NAIC complaint index: 0

J.D. Power provides studies that rate insurance companies across policy offerings, price, clarity of billing and policy information, interaction, and claims. An overall satisfaction score, "based on how customers view every experience of their experience with homeowners insurance providers", is reflected here and used for our ranking.

The Better Business Bureau ranks companies across a large swath of criteria. While consumers can submit ratings to the BBB, these scores are not taken into account in their rating, although tangential metrics that take into account customer experience are.

Consumer Affairs is a platform that lets consumers directly rate customers, while Consumers Advocate rates companies based on stability, reputation, and policy coverage.

Trustpilot is a consumer review website that allows users to award businesses a score out of 5 along with a written review. Companies are then awarded an aggregate score out of 5 based on submitted reviews.

The National Association of Insurance Commissioners (NAIC) tracks the number of complaints submitted to state insurance departments with their national complaint index. A score of 1 is the baseline average, and a score of 0 means there weren't enough complaints to count. Progressive's score of zero means they didn’t receive enough complaints to count.

Policy options

Both the quality and number of coverage options, like unique homeowners insurance product tiers and availability of certain coverage endorsements.

3.8

Progressive offers multiple tiers of homeowners coverage: a base policy, Progressive HomeShield, Progressive HomeShield Plus and Platinum endorsement. All offer varying levels of coverage.

HOH Base Policy

  • Standard coverage

  • $1,000 loss assessment coverage

  • $1,500 securities coverage

  • $1,500 jewelry, furs, art, and collections coverage

  • $2,000 electronics coverage

  • $2,500 firearms coverage

  • $2,500 silverware coverage

  • $2,500 computers coverage

  • $5,000 theft of tools coverage

HomeShield

  • Everything that's included in the base policy

  • 25% extended replacement cost dwelling coverage

  • Replacement cost personal property coverage

  • Personal injury coverage

  • $5,000 water backup coverage

  • $2,500 loss assessment coverage

  • $3,000 jewelry or furs coverage

  • $2,000 per-item electronics coverage

HomeShield Plus

  • Everything that's included in HomeShield

  • 50% extended replacement cost dwelling coverage

  • Special personal property coverage

  • Personal injury coverage

  • ID recovery assistance coverage

  • 25% ordinance or law coverage

  • $10,000 water backup coverage

  • $5,000 loss assessment coverage

  • $2,500 securities coverage

  • $5,000 jewelry or furs coverage

  • $2,500 collections coverage

  • Unlimited per-item electronics coverage

  • $4,000 firearms coverage

  • $4,000 silverware coverage

Platinum

  • Everything that's included in HomeShield Plus

  • Waives first $500 of deductible for a loss over $50,000

  • $6,000 firearms coverage

  • $6,000 silverware coverage

  • $50,000 combined limit for securities, jewelry and silverware kept in a bank vault

Customer experience

Ease of use, convenience, availability, and claims ratings.

6.6

Progressive offers a user-friendly and intuitive website, alongside a suite of online tools and a simple quoting and application process.

State availability

Progressive homeowners insurance is available in all 50 states and the District of Columbia thanks to its network of partner providers.

Digital tools

Progressive has an online application, instant-quote tool, an online chat service, as well as online bill pay. Unfortunately, the Progressive smartphone app isn't available for homeowners products.

The application

Progressive allows you to apply for policies online or over the phone.

The online application is pretty simple — just make sure you know specifics about your home, as Progressive gets a little more granular with home spec questions than other insurance companies we’ve reviewed. You’ll fill out information related to your home’s structure, its exterior, interior, and its utilities. Once you submit all of the required information, Progressive fetches you a quote from multiple insurance companies within a matter of seconds.

Progressive will then suggest a quote for your home that you can compare with other companies’ policies. One thing we caught is that when Progressive suggested a quote, it was always the plan with the lowest rate, not necessarily the best coverage.

In fact, in the three instances we applied for Progressive insurance with sample properties, the quotes were from Homesite, a Progressive affiliate with subpar customer satisfaction and claims ratings. Be sure to review each plan and see how much coverage you’re getting. A low rate means very little if you’re paying for an inferior product.

Ease of claims

Progressive (when you have a policy through ASI) allows you to file home insurance claims both online or by calling their claims department directly. If your policy isn’t through ASI, be sure to contact the Progressive partner that’s listed on your policy. Progressive provides a list of those companies’ claims departments online.

Claim satisfaction

Your homeowners claims experience with Progressive will depend on where your homeowners policy is underwritten. Homesite, which underwrites many of the homeowners plans purchased through Progressive, received a low score on J.D. Power’s 2020 Property Claims Satisfaction study.

Policygenius offers insurance policies from many of the nation's top insurers, who pay us a commission for our services. However, all editorial choices are made independently.

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