Progressive Renters Insurance
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The Progressive Corporation is a large American insurance company based in Mayfield Village, Ohio. They were founded in 1937, and specialize in auto insurance. They have more than 10 million active auto insurance policies, with customers all over the United States.
In recent years, like many auto insurance companies, Progressive have started to branch out into other forms of insurance. They offer renters insurance and homeowners insurance, as well as insurance for a whole host of vehicles from snowmobiles to Segways.
Progressive have had a number of popular advertising campaigns over the last few years. Their best-known campaign features an enthusiastic woman called Flo who animatedly describes the benefits of Progressive’s insurance products.
Their most recent campaign features video game character Sonic the Hedgehog.
Progressive is publically traded on the New York Stock Exchange, and is ranked at 164 in the Fortune 500. Progressive went public in 1971.
They are one of the most innovative insurance companies in the US. They were the first company to let people pay their auto insurance premiums monthly (now an industry standard) and they were also the first to send their claims specialists to the scene of an accident.
Progressive – Company Ratings
AM Best rate the financial strength of the Progressive Corporation as A+. This is categorized as a “superior rating” and is one of the highest ratings that AM Best gives out. This is a very positive indication of the financial strength of the company.
Fitch’s financial strength analysts have decided that the Progressive Corporation is in a very strong (AA) position. This means that the Progressive Corporation has a very strong capacity to meet their financial obligation, with no problems foreseen.
Standard and Poor’s also put Progressive Corporation in the AA category, saying that they have a very strong ability to meet insurance commitments.
Progressive – Customer Satisfaction
Progressive have a fairly mediocre customer satisfaction score on most surveys. They don’t disgrace themselves, but they don’t quite excel either.
The J.D. Power customer satisfaction ratings for Progressive’s insurance products put overall satisfaction at 3 out of 5. This is around the same as most other large insurers.
Progressive offers a service where they will tell you a few competitors’ insurance quotes before revealing their own. This is to make their own quote seem like good value, and to stop you from getting independent quotes from other insurance providers. However, there has been a lot of controversy about this recently, with some customers claiming that Progressive has been giving inaccurate competitor quotes to make their own quotes look cheaper.
Shop Around And Compare Renters Insurance Quotes
It’s absolutely essential to get independent quotes from other insurance companies before you purchase your renters insurance from Progressive. Although Progressive claim to offer you competitors quotes so you can make a decision there and then, in the past this has been proven to be inaccurate. It is mostly used as a high-pressure sales tool rather than a true comparison.
If you want to be sure of getting the best renters insurance for you, then you should get quotes from several different insurance companies before making your decision.