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Progressive Homeowners Insurance Review…

Progressive Homeowners Insurance Review

Progressive is widely known for having low auto insurance rates (and a peppy, omnipresent sales agent named Flo). If you already insure your car with the company, or if you’ve simply seen enough ads to be curious, you might be wondering if that reputation extends to Progressive’s homeowners insurance.

The short answer: That might depend on where you live.

The first thing to know about Progressive homeowners insurance is that Progressive doesn’t actually sell homeowners insurance — but you can still buy it through the company.

Progressive partners with various other insurers that underwrite and finance its home insurance policies. These partner companies are the ones that will actually set rates and pay out on your claim if you ever need to file one. What Progressive provides is the seamless online experience and robust resources that a nationwide company can easily furnish.

It’s all explained in the fine print you may have skimmed over on Progressive’s homeowners insurance page:

“Progressive Home Advantage® policies are placed through Progressive Specialty Insurance Agency, Inc. [PSIA] with insurers affiliated with Progressive and with unaffiliated insurers. Each insurer is solely responsible for the claims on its policies and pays PSIA for policies sold. Prices, coverages, and privacy policies vary among these insurers.”

This unique structure underlies what works well — and what sometimes doesn’t work — about Progressive’s homeowners insurance. For instance: Local underwriting means that some Progressive customers will benefit from personal, hands-on, local customer service. But it also means that some will have limited options for discounts and coverage. See our deep-dive into Progressive’s features for details.

The Claim

Progressive bases its claim to home insurance fame on volume: “We’re No. 1 in online home insurance quotes,” the company proudly states.

Is it true?

Sure. We’ll give Progressive the fact that it’s the most popular company for homeowners insurance quotes. That stat actually comes from a 2017 study run by third-party market research firm comScore.

In fact, Progressive’s claim speaks to one of the coolest things about its home insurance: By virtue of selling policies through more than one partner company, Progressive is able to offer each customer quote comparisons from multiple providers right on-site.

Here’s the thing, though: Quotes aren’t necessarily sales. And besides that, volume doesn’t always equate to quality. Whether or not Progressive’s home insurance is right for you will depend on the region-specific options available to you.

There are a few things to keep in mind while you try to answer that question.

First, like we said above, the quality of Progressive’s home insurance depends on location. Since the company works with different underwriters, which vary by region, the level of service you receive hinges on your address. You’ll want to look into ratings, customer reviews, and financial scores for the specific Progressive partners operating in your area before deciding which one suits your needs.

Second, Progressive’s policy options are somewhat state-specific. Although the coverage add-ons you’ll see listed on its site seem slim, there may actually be more options available in your area than what you see online. It’s worth asking your local agent what’s available before writing Progressive off in favor of an insurer with a more forthcoming website.

Product Overview

Best for

Current Progressive customers and homeowners seeking affordable basic coverage

Not for

Homeowners who need specialized endorsement options

Features

Price Varies
In business since 1937
Standout features
Compare and choose from multiple home insurance quotes on-site
Pair the convenience of a national insurer with the localized service of a regional one
Easily learn about your insurance with plain-speak coverage information online
A.M. Best financial strength rating A+
Moody’s financial strength rating A2
S&P Global financial strength rating AA

Built-in quote comparison

One of the biggest benefits of working with Progressive is its convenience factor. This is especially true for homeowners insurance; since Progrerssive partners with multiple underwriting companies, it’s able to offer each customer a few different quotes from regional insurers in their area.

That means you’ll be able to compare rates side-by-side and select a budget-friendly option through Progressive. (Other insurers, by contrast, only offer one quote, which you can take or leave.)

To check rates available from Progressive underwriters where you live, head over to the company’s Home Quote Explorer tool. It’ll guide you through the basics of shopping for home insurance and the coverage options you might need based on your home’s unique factors. For example, the tool guides you through pictures of different roofing materials, countertops, and other home features so that you can easily match your home’s construction to the appropriate coverage.

Standard home insurance coverage

There’s nothing exceptional about Progressive’s policies, but they do protect you in the six main areas standard with all home insurance:

  • Your dwelling (which is the main home)
  • Other structures on the property
  • Your personal belongings
  • Liability and medical payments (in case someone gets hurt on the property)
  • Loss of use (meaning the company will pay for alternate lodging if your house is damaged to the point of being unusable)

Whether these coverages actually apply depends on the cause of damage to your home. An HO-3 policy, which most people have, pays out after lightning, fire, wind, tornadoes, winter storms, and more. But it won’t pay out if your home is affected by an earthquake, flooding, or sinkhole, for example. You’ll have to buy additional insurance to cover those situations.

Good discount opportunities

Progressive offers plenty of discounts for homeowners (although it’s worth noting that discounts can vary by state). Some are super easy to qualify for, like receiving your documents by email or getting a quote before your current policy is up. Other discounts require a little effort or upfront investment, like those for installing security devices or paying your premium in full when you buy. You can learn more about the discounts available to you through the online quote process.

Customers who insure their vehicle with Progressive can also save by bundling auto and home insurance. The company claims that bundling discounts can save you 10% or more, but you’ll have to request a quote to see how your own rates shake out. Progressive notes that bundling discounts are “not available in all states or situations.”

Easy-to-use website

It should come as no surprise that insurance giant Progressive maintains a well-oiled online shopping experience. Information about homeowners insurance is easy to find. Even better, it’s written in plain language that an insurance newbie can easily understand. The Answers section hosts helpful articles covering topics from homeowners insurance 101 to specifics like whether your policy covers mold. And in our experience, Progressive’s quote tool is easy to use and covers a comprehensive range of questions (meaning your quote is likely to be accurate).

Possible drawbacks

Policy options and service vary by state

Because Progressive’s home insurance is sold by a variety of underwriters, its service and policy options can differ from place to place. You’ll be covered in the six main areas no matter where you live, of course, but the quality of customer service and availability of things like bundling discounts might change. Be sure to speak with your local Progressive agent about the particularities of homeowners insurance where you live.

Limited endorsement options

Variation by state means some people might have a wider selection of homeowners endorsements than others, as well. But it’s still worth noting that the company’s baseline options for customizable coverage are limited.

Beyond the standard homeowners coverages, Progressive offers just two optional endorsements: water backup and personal injury. Water backup is an important inclusion, as flooding from sump-pump or sewer backup isn’t otherwise covered. But we did miss additional options offered by other big-name insurers, like earthquake coverage, green home coverage, and identity theft protection.

The Competition

*See FAQ

Progressive vs. State Farm

If you compare Progressive and State Farm based on “claims to fame” alone, there’s an interesting contrast. Progressive touts the fact that it writes more home insurance quotes than any other provider in the nation — but State Farm actually sells the most policies.

That doesn’t mean State Farm’s home insurance is inherently better than Progressive’s. Maybe people just like Oscar-from-“The-Office” more than Flo-the-sales-agent.

We’re kidding, of course. In reality, the two companies have pretty similar options for homeowners. Both offer standard coverage with few endorsement options and a decent range of discounts. Keep bundling in mind if you have auto insurance with one of the two — but otherwise, the decision between them comes down to which offers a lower quote and great local customer service.

Progressive vs. Allstate

We mentioned above that Progressive’s add-on coverage options are fairly slim — which means that you won’t have much wiggle room above and beyond the standard policy. If you are looking for more customization options, we recommend checking out Allstate.

Allstate offers a few endorsements that we felt were lacking from Progressive. For instance, the company will cover yard and garden items, green improvements to the home, and business property for at-home entrepreneurs, among other things. That makes it a more likely choice than the Progressive for homeowners with extra-niche insurance needs.

That said, if your home insurance needs are pretty standard, we definitely recommend checking quotes from Allstate and Progressive. They’re both known for having affordable insurance, but you won’t know which one is the better deal for you until you’ve looked at personalized rates side by side.

Progressive vs. Geico

Just like Progressive, Geico uses various local insurers to underwrite and finance its home insurance policies. That means you should be similarly scrupulous when it comes to vetting your state’s Geico providers. It’s worth checking prices and local ratings for both Progressive and Geico to see which has better offerings in your area.

Progressive and Geico are also on par for coverage, more or less — though Geico offers home business insurance as an endorsement, an option that Progressive lacks. Both companies are also known for having fair rates and generous discounts; if you insure your car with Progressive or Geico, bundling deals might be enough to sway you when it comes to choosing a homeowners insurance policy.

(Please note: Geico quotes can only be obtained from Geico.)

Progressive Homeowners Insurance FAQ

Who underwrites Progressive homeowners insurance?

Progressive home insurance is underwritten by a handful of different “partner” insurers. The underwriters available to you vary by state and region. If you buy a Progressive home insurance policy, one of these partner companies will be the one that actually sets your rates and pays out on claims. See a full list of Progressive’s home insurance underwriters below.

The 12 companies that underwrite Progressive home insurance

How can I evaluate local Progressive underwriters?

We haven’t reviewed each insurer that Progressive partners with to provide homeowners insurance. However, if you’re looking to learn more about any individual company, it’s easy enough to do some sleuthing on your own.

We recommend starting with customer satisfaction ratings from J.D. Power and Consumer Reports to learn more about the company’s service and claims process. Smaller, regional companies may not be in these reports, but you can always scan their Better Business Bureau profiles for reviews that individual customers have shared.

You can also check in with financial ratings agencies A.M. Best, S&P Global, and Moody’s to verify an insurer’s financial strength. Look for scores of “A” or higher, which indicate a stable financial outlook and ability to pay out on claims of any size.

Why doesn’t Progressive have J.D. Power or Consumer Reports ratings?

You may have noticed in our comparison chart that Progressive (and Geico, for that matter) doesn’t have ratings from J.D. Power or Consumer Reports. This is due to its underwriting structure; it’s hard to assign a single rating for customer satisfaction or claims service because the experience can change from one partner underwriter to another.

If you want more insight about specific Progressive underwriters in your area, check out the tips we shared above for evaluating insurers. And as a general rule, ask around your community to see if any acquaintances are insured by the companies you’re considering. Opinions from a friend or neighbor are a great way to begin scoping out local insurance companies.

The Bottom Line

If you have auto or another line of insurance through Progressive, it’s worth considering the company for home insurance as well. You may be eligible for bundling discounts of 10% or more — and the convenience of managing all of your policies through one platform is a big draw for some folks.

If you don’t already use Progressive, it may still be worth getting a quote, as the company’s unique comparison tool makes it easy to view rates from multiple partner providers. Just remember that Progressive’s endorsement options are limited, so if you need extra-specialized coverage, this likely isn’t the insurer for you.

Whether or not you consider Progressive for your home insurance, make sure to look at a few other providers as well. Experts recommend checking quotes from at least three different homeowners insurance companies before buying to make sure you’re striking the right balance between affordable premiums, great coverage, and strong service and financials.


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