Progressive Insurance Review: Everything You Need to Know
Progressive Insurance Review: Everything You Need to Know, Progressive Insurance is the third largest auto insurance company in the United States, with flexible solutions like usage-based insurance and rideshare insurance that appeal to a broad spectrum of drivers.
According to our progressive insurance analysis, the company’s full coverage premiums for excellent drivers are about 19% lower than the national average. Progressive consistently ranks as one of the best auto insurance companies in the country based on industry reviews.
However, is a progressive insurance program worth the money? In this article, we’ll review Progressive insurance coverage options, examine who Progressive would be a good fit for, and compare it to other popular options.
What is progressive insurance?
Progressive Corporation is an American insurance company that is the third largest insurance company and the largest commercial auto insurer in the country. As a corporation co-founded by Jack Green and Joseph M. Lewis in 1937, its headquarters are located in Mayfield Village, Ohio, USA.
The company covers passenger cars, motorcycles, RVs, trailers, boats, personal watercraft, and commercial vehicles. Progressive also offers home, life, pet and other insurance options through a network of trusted providers. Having expanded globally, Progressive now offers car insurance in Australia.
The company is ranked 74th on the recently released Fortune 500 list of America’s top corporations.
Experts have given Progressive significant ratings, including an A+ financial strength rating from AM Best and an A+ rating from the Better Business Bureau (BBB). Customer feedback on Progressive Insurance is mixed.
History of progressive insurance
In an attempt to provide security and protection to automobile owners, Joseph Lewis and Jack Green founded the Progressive Mutual Insurance Company on March 10, 1937.
They were both attorneys who believed that starting an insurance company would be a worthwhile investment. 80 years in the business line, his gamble seems to have paid off.
Progressive, as the name suggests, is about discovering new and inventive methods to improve the auto insurance market. It was the first auto insurer to provide a drive-in claims service and was also the first to allow customers to pay premiums in installments rather than annual payments.
In the 1950s, the company’s rapid growth prompted a relocation to new offices in downtown Cleveland. Following the death of Joseph Lewis in 1955, Jack Green became CEO of Progressive, and Joseph’s son Peter began a prosperous career with the company.
In 1965, the Progressive Corporation was formed due to further growth and expansion in the early 1960s.
Still, in the same year, Peter Lewis was named CEO, a position he held for 35 years until Glenn Renwick took over in 2000. Tricia Griffith, the current CEO, and the chairman took over from Renwick in 2016.