Certainly, most people have heard of Progressive Auto Insurance because we are regularly greeted by Flo and Jamie who spend a lot of time hawking Progressive on TV.
They also remind us to “bundle” so that we can save money on home and auto insurance.
So then, it’s logical that consumers would want to know more about Progressive Home Insurance.
In this article, like many others you’ll find at InsuranceQuotes2Day.com, we will drill down and offer up the information you need if you plan to make an informed decision and use Progressive for your home insurance.
About Progressive Home Insurance
Table of Contents
Founded in 1937, Progressive has grown to be a significant player in the property and casualty insurance marketplace. They are one of the top-selling auto insurers and it will not be long before they rank at or near the top with Progressive homeowners insurance.
Prior to 2014, when you purchased Progressive’s home insurance, you were doing business with a third-party insurer but in 2014, Progressive purchased American Strategic Insurance which allows them to market their homeowners’ insurance across the U.S.
Becoming a homeowner insurance company also benefits the Progressive policyholder since the rates are set by Progressive (rather than a third party insurer) and claims are the sole responsibility of Progressive as well.
The Progressive Home Insurance Policy
Unless you are buying or living in an unusual home like a very old historic home or a mansion on the coast, Progressive will use the HO3 form homeowners’ policy that contains a package of coverages that provide great coverage except for flood and earthquake.
The Progressive home insurance offering is interesting because they use the HO3 as their Base Policy, and then broaden the coverage limits for the HomeShield policy and then broaden it even more with the HomeShield Plus coverage.
The coverage differences between the Base Policy, HomeShield, and HomeShield Plus are associated with your personal property coverage, dwelling coverage, and other structure coverages.
On top of these three policy enhancements, Progressive home insurance also comes with some other bells and whistles that really help its homeowners’ coverage to stand out among the rest.Here are the coverages provided in a traditional HO3 Homeowners’ Insurance Policy:
|Type of Coverage||What it Covers||Typical Limit of Coverage||Deductible Applied|
|Dwelling||Covers the structure of the home and any attached/built-in appliances||Claims are generally based on replacement cost of the home (land or lot not covered)||Yes - Flat amount or % of structure value|
|Other Structures||Covers any structures on the property not attached to the house such as fences, barns, workshops||Usually 10% of dwelling limit. Can be increased if needed.||Yes|
|Personal Property||Personal belongings inside and outside of your home||50% of dwelling limit but can be increased or decreased as needed||Yes|
|Loss of Use||Pays for temporary relocation expenses while the home is under repair||20% of dwelling limit||Yes|
|Personal Liability||Pays for medical expenses and legal expenses if found liability for injuries or property damage to a third-party||Typically available limits are $100,000 to $1 million||No|
|Medical Payments||Pays medical expenses for third-party injuries regardless of fault||Typical limits are $1,000 to $10,000||No|
Here, we compare the Base Policy, HomeShield, and HomeShield Plus side-by-side:
|Coverage||Basic Policy||HomeShield||HomeShield Plus|
|Replacement Cost Dwelling||No Change||Extended 25%||Extended 50%|
|Personal Property||Actual Cash Value||Replacement Cost||Replacement Cost|
|Personal Injury||not covered||Added to policy||Added to Policy|
|Ordinance or Law||10% of Coverage A||10% of Coverage A||25% of Coverage A|
|Water Backup Coverage||not covered||$5,000 coverage||$10,000|
|Loss Assessment Coverage||$1,000||$2,500||$5,000|
|Jewelry or Furs||$1,000||$3,000||$5,000|
|Electronics||$2,000 all items||$2,000 per item||$2,000 per item|
|Theft of Tools||$5,000||$5,000||$5,000|
Additional Coverages from Progressive Home Insurance
Depending on the geographical area you live in, you’ll likely need additional coverages to better protect your home which for most homeowners, is their most valuable asset.
To accommodate your coverage needs, Progressive offers the following additional coverages:
- Water backup coverage – this coverage, which helps pay for damage resulting from sewer backups, is especially important if you live in a neighborhood that has an old or outdated infrastructure.
- Ordinance or law coverage – This coverage is triggered if your home must be rebuilt and certain new ordinances or laws are increasing estimated construction costs.
- Personal Injury Coverage – This is not about bodily injury, rather, this coverage applies if you are found liable for slander, defamation, false arrest, imprisonment, or wrongful eviction.
- Credit Cards – This coverage works on a reimbursement basis if someone uses your debit or credit card without your permission.
- Identity Theft – Reimburses for expenses incurred to restore your stolen identity.
- Earthquake Coverage – Can be endorsed onto your policy to cover damages due to an earthquake. A separate deductible will apply for this peril.
Progressive Home Insurance Discounts
In many cases, discounts can be essential to reducing your cost of homeowners’ insurance. The discounts available on Progressive homeowners insurance are significant:
- Bundling Discount – Probably the most popular discount is when you combine your purchase with Progressive home and auto and save up to 10% on each policy.
- Pay-in-Full – When you pay your premium in full rather than monthly, Progressive will reward you with a discount of up to 20%.
- Go Paperless – When you elect to receive bills and documents electronically Progressive saves money on each transaction. The discount for going paperless is rather small compared to other discounts but going paperless is convenient and saves you money.
- Alarm and Safety Device – Applicants can earn additional discounts if the home has smoke, fire, burglar, or security alarms.
- Quote in Advance – Spend a little time and get your quote at least 10 days before your coverage starts and Progressive will offer lower rates.
Progressive Home Insurance Claims Process
Progressive makes filing a claim very quick and easy for policyholders. You can call the claims department at (866) 274-5677 or go online to set up your claim 24/7, and don’t forget the Progressive App available for all cell phone users.
For catastrophic events, Progressive will likely have claims professionals staged in your area.
What Customers and former customers are saying about Progressive
The best way to find out if Flo and Jamie at Progressive are as good as they claim, check out Progressive online to see what people are saying. Here’s what we found in less than 5 minutes:
- ConsumerAffairs – 4 out of 5 stars (116 reviews)
- NerdWallet – 3.5 out of 5 stars
- WalletHub – 5 out of 5 stars (311 reviews)
- Clearsurance – 4.1 out of 5 stars (12,256 reviews)
The Bottom Line
Whether you need auto, home, renters, or motorcycle insurance, Progressive is a great company to choose when it comes to claims service, customer service, and affordable rates.
If you prefer not to go through a local agent, you can simply take control and call them directly.
Progressive won’t be a great fit for everyone but the rankings and ratings demonstrate that a lot of people across America really like the company and its insurance products.
Frequently Asked Questions
Does Progressive actually own its homeowners insurance company?
They didn’t use to. But, in 2014 Progressive purchased American Strategic Insurance Company. Although they continue to use thrird-party insurers for certain risks, most of their policies are written in-house.
How much does Progressive Home Insurance cost?
Your homeowner insurance rates depend largely on the geographic area you live in. If you live in Florida where there is a continuous risk of hurricane and sinkhole damage, your rates will be much higher than if you lived in Utah. The company’s rates are very competive, however, no matter which part of the country you call home,
Can I get a Progressive home insurance policy without an inspection?
Although you can get a policy started without an inspection, your insurer will eventually inspect your home and can adjust your rates or coverage as a result of the inspection.
Should I file a claim for the small stuff?
Anytime you have a claim that appears to be less, at, or even a little more than your deductible should be paid out of pocket. You can ask a handyman or home contractor for an estimate before contacting the claims department.