Barry Eitel is a content writer and journalist focused on insurance, small business and finance. He has researched and written about personal finance since 2012, with a special focus on entrepreneurship, freelancing and other small business operations. His writing on insurance and small business has been featured in 7x7, Brit + Co, Intuit Quickbooks, Bankrate, Policygenius and Lendio.
Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at Insurance.com.
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Progressive is an increasingly popular choice for home insurance and one of the biggest insurance companies in the nation. It landed at No. 7 in the 2024 Insure.com Best home Insurance Companies ranking among national insurers.
Most Progressive customers plan to renew their policy (94%), while 93% would recommend the company to others. Progressive was also highly rated on our survey for claims handling.
The company also scored well on Insure.com’s insurance-consumer survey for discounts and policy offerings. However, Progressive doesn’t have the lowest rates among the companies in our ranking – at $3,193, Progressive’s rates are above average.
In most areas, the company has earned a good reputation.
Progressive has an A+ rating with AM Best, which means it’s on solid financial ground and won’t have trouble paying claims.
AM Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet its ongoing insurance policy and contract obligations.
Below is Insure.com’s review of the company. It’s based on third-party metrics, including two J.D. Power studies (Home Insurance Study and Property Claims Satisfaction Study) and an in-depth survey of insurance customers. Find the full methodology here.
Progressive’s average home insurance rate nationwide is $3,193, which is above the national average and higher than most competitors.
Our survey found that 79% of Progressive customers rated it highly for customer satisfaction. It wasn’t the highest score, which belonged to Erie at 89%, but it was in the top half of the companies we ranked.
Progressive also has a score of 791/1,000 in J.D. Power’s 2023 U.S. Home Insurance Study customer satisfaction index, below the industry average of 819.
Progressive scored well when it comes to policy offerings, with 82% of customers saying they’re satisfied. It tied with State Farm for third place in this category and was only a few points behind category winner Erie, which scored 86%. Progressive offers everything from RV insurance to wedding insurance, so a high score in this category is appropriate.
When it comes to ease of service – how easy it is for customers to access policy documents and services – Progressive customers scored it below other competitors. At 78%, Progressive is well behind category winner American Family.
According to our survey, Progressive comes highly recommended by current customers; 93% would recommend it for home insurance. Only Erie, which won this category at 95%, came in higher than Progressive.
Progressive has earned the trust of most of its customers, but it was rated slightly lower than some other national competitors. Only American Family and State Farm broke 80% in this category.
According to our survey, 94% of Progressive customers plan to renew their home insurance with the insurer, which is very high. It tied with State Farm in this category and was only outscored by Erie at 97%.
Progressive scored fairly well in this category, where only two companies scored above 80% However, in J.D. Power’s 2023 claims satisfaction study, Progressive ranks toward the bottom. The average J.D. Power claims satisfaction score is 874.
Progressive is known for its use of technology, and 44% of customers chose digital experience as one of the top three things the company is best for. That tied for the top score with Allstate and Travelers. No company broke 50% in this category.
The Progressive app is highly rated, with 4.8 stars in the Apple App Store and 4.6 stars in the Google Play store.
When asked to choose the top three things Progressive is best at, 48% of customers chose bundling as one of the three. That’s close to or better than the score for top competitors, even though Progressive’s average discount is much smaller. Erie was an outlier, winning the category at 73%.
When selecting the top three things Progressive is best for, 46% chose discounts as one of their picks. That was on par with many competitors. American Family won this category at 54%.
On March 10, 1937, Joseph Lewis and Jack Green started Progressive Mutual Insurance Company to provide vehicle owners with security and protection. In 1956, Progressive Casualty Insurance Company was founded as the first specialty underwriter of nonstandard insurance.
The company expanded to writing other lines of business, including home. In addition to providing customers quotes from other companies through its agency, Progressive underwrites its own home insurance program.
Progressive was one of the first insurers to launch a website; it provides coverage across the United States, and is bundling options, discounts, and its well-designed digital experience.
Sources:
Progressive. “Homeowners insurance.” Accessed January 2024.
J.D. Power. “2023 U.S. Property Claims Satisfaction Study.” Accessed January 2024.
J.D. Power. “2023 U.S. Home Insurance Study.” Accessed January 2024.
Insure.com in the fall of 2023 surveyed more than 1,750 insurance consumers (1,151 people with home insurance). The survey was conducted by online market research company Slice MR.
Respondents were asked to name their home insurer and then grade it in the following categories: customer satisfaction, ease of service, claims satisfaction and policy offerings. The percentage of respondents who said they were satisfied or very satisfied with their insurer is presented in the results.
Respondents were then asked to pick their insurer’s top three attributes out of more than a dozen presented – including digital experience, discounts best for auto/home bundling and best for discounts. The number of responses for each attribute were totaled before dividing by the number of each company’s customers who responded to that survey question to create a percentage.
Respondents were then asked if they would recommend their home insurer to someone else and if they planned to renew their policies. The percentage who said yes is presented in the results.
Finally, respondents were given the statement “I trust my insurance company” and asked if they strongly agreed, agreed, disagreed or strongly disagreed with the statement. The percentage of those who said they agreed or strongly agreed is presented in the results.
The editors compiled the survey results and then selected – based on the number of survey responses – the top companies for further evaluation.
They then collected AM Best data, which measure financial strength, and National Association of Insurance Commissioners’ complaint data, which ranks a company by the number of customer complaints it receives. The Insure.com team identified the NAIC company code or codes that were the primary underwriting companies for each carrier and line of business using total annual premiums. The associated NAIC complaint index score was used in the calculations. If more than one underwriting company was identified for a line, the editors used a weighted average of the NAIC complaint index scores.
They also collected insurance rate data from Quadrant Information Services.
With the help of Prof. David Marlett, Ph.D., Managing Director of the Brantley Risk and Insurance Center at Appalachian State University, the editors created a rating system to determine which insurance companies were best in each sector. For home insurers, we took the following and gave each a weight.
Each insurer was awarded between half a star and 5 stars. No company in the ranking received less than half a star in any category, and 5 stars was the most any insurer could receive.