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Progressive homeowners insurance review
Progressive's package of home insurance products are among the most comprehensive and affordable in the industry, but they're just the broker, so if you have to file a claim you won't be working with Progressive directly.
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Progressive Homeowners Insurance
You can almost always find a policy in your price range
Excellent web and mobile interface
Offers extended replacement cost home structure coverage
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 parters as opposed to Progressive itself. This means that 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 comes time to file a claim, you won't be working with Progressive directly, you'll be going through the partner that underwrote your policy. That means claims service and satisfaction can vary.
PROGRESSIVE COMPANY SPOTLIGHT
2 of 5
J.D. Power Rating
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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 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, but 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 to choose from. And because Progressive acts as the broker for homeowners insurance but not the underwriter, when you go to file a homeowners claim you'll be directed to a partner provider, meaning your claims experience may be somewhat unpredictable.
IN THIS ARTICLE
You can almost always find a policy in your price range. Progressive brokers a number of other companies’ policies — in addition to offering their own Home Advantage plan — so you'll see a range of affordable policy options when you apply for homeowners insurance online.
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. Meaning you’re covered an extra 25% or 50% of your dwelling limit in the event your home’s rebuild cost exceeds your coverage limit. The higher tiers of Progressive's HomeShield coverage options offer increased replacement cost coverage and important endorsements like water backup coverage.
Claims handling may vary from customer to customer. Progressive works with several insurers and underwriters, which is great for finding an affordable policy that works, but might be confusing when it comes time to file a claim.
Progressive's homeowners insurance perks are limited. Customers who use Progressive for home won't necessarily have access to all the perks that come with their other products, such as the Progressive mobile app. If you have Progressive for auto, you can use the Progressive mobile app to start claims and pay bills, but the app and certain other Progressive-specific services aren't available for homeowners customers.
Homeowners insurance rates depend on a number of specific factors, including your state, ZIP code and the details of your house. But Progressive has some of the more competitive rates in the industry, with an average quoted premium of $1,512 with Policygenius — slightly lower than the average annual quoted policy price overall.
Your rates are particularly impacted by the amount of coverage in your policy. Below is the average cost of homeowners insurance at different levels of coverage with Progressive:
|Progressive coverage amount||Progressive average annual premium|
Average annual homeowners insurance premiums for each coverage level were calculated using Policygenius quoting data.
A great way to lower your homeowners insurance costs is to take advantage of discount opportunities.
Common homeowners insurance discounts include protective devices discounts, claims-free discounts, and new home-buyer discounts. However Progressive doesn't offer any premium or less-common discounts on homeowners insurance.
There is a bundling discount available for homeowners who combine their home and auto insurance with Progressive.
Your home is, most likely, your most valuable asset, so you want to make sure the company that's protecting it is in good financial standing. Third-parties exist that rate a company's financial strength, but these ratings are made slightly more complicated when it comes to Progressive because there may be one or several companies underwriting your homeowners policy.
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 companies ability to remain financial stable and creditworthy, Moody's measures what the expected losses would be if a company were to go into default. It's particularly 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 insureds can use to gauge the financial health of a particular 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 comes 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.
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 generally solid customer satisfaction scores and a good rating from the Better Business Bureau, although they had a relatively high number of complaints recorded with the NAIC's consumer complaint index.
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 colleected reviews.
The National Association of Insurance Commissioners tracks the number of complaints submitted to state insurance departments with their national complain index. A score of 1 is the baseline average, and a score of 0 means there weren't enough complaints to count. Progressive's 2018 score of 1.71 means they received almost double the complaints of the average company. That may seem high, but keep in mind their large customer base.
Progressive offers multiple tiers of homeowners coverage through ASI: a base policy, Progressive HomeShield, Progressive HomeShield Plus and Platinum endorsement. All offer varying levels of coverage.
Progressive offers a user-friendly and intuitive website and online tools and a simple quoting and application process.
Progressive homeowners insurance is available in all 50 states and the District of Columbia thanks to its network of partner providers.
Progressive offers an online application and instant-quote tool, as well as online bill pay. However the Progressive smartphone app isn't available for homeowners products.
Progressive allows you to apply for policies online or, if you’re less tech-savvy, 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 and you’ll be able to compare it 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 times we applied with different properties, those quotes were from Homesite, a Progressive affiliate with subpar customer satisfaction and claims ratings. Be sure to review each plan and how much coverage you’re getting with each one. A low rate means very little if you’re paying for an inferior product.
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.
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, scored a relatively low 2 out of 5 on the 2019 J.D. Power 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.
Anna Swartz is a Managing Editor at Policygenius in New York City, and an expert in auto insurance. Previously, she was a senior staff writer at Mic, writing about news and culture. Her work has appeared in The Dodo, AOL, HuffPost, Salon and Heeb.
Policygenius’ editorial content is not written by an insurance agent. It’s intended for informational purposes and should not be considered legal or financial advice. Consult a professional to learn what financial products are right for you.
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