How Can You Save Money On A Progressive Renters Insurance Policy
The simplest way to get the cheapest policy is by going with a basic plan with no additional coverage. Whatever coverage you need, the cost of renters insurance doesn’t have to be high. Progressive offers bundling and other renters insurance discounts if you know where to look.
It’s easy to add renters insurance to a Progressive car insurance policy. If you bundle an auto policy and renters types of coverage, you can receive a discount of 5 percent or more. Additional ways to save include getting a renters insurance quote ahead of time , paying your policy in full upfront, getting your policy documents by email, and living in a secured or gated community. The discount opportunities offered through Progressive renters insurance vary by state.
One Clearsurance user talked about their bundling discount with Progressive renters insurance saying, My apartment complex required me to have a renter’s insurance policy before I could move in. Progressive made it very easy to add in just a few minutes. By the time I was finished, I ended up with a discount on on my auto insurance policy that more than covered the small additional cost of the renter’s insurance.
Renters Insurance Buying Guide
Before you compare renters insurance companies, gather key information such as the address of the rental and any safety and security features the unit has.
You should also figure out how much coverage you need. Take a quick inventory of your belongings: How much would it cost you to replace them? Include all furniture, electronic devices, clothing, jewelry and household items. This total is the minimum amount of personal property insurance you should have.
Your liability limit should be high enough to cover your net worth, while your deductible should be an amount youd feel comfortable paying in an emergency.
When evaluating renters insurance quotes, make sure each rate estimate includes the same coverage limits and deductibles so you know youre getting a fair comparison. While its tempting to buy the cheapest policy, you may also want to read reviews of your preferred company to make sure it offers good customer service.
The Progressive Snapshot Program
For instance, safe driving habits can boost your savings with Progressives Snapshot program. Just plug the Snapshot device into your cars diagnostic port and it will collect data on how often and when you drive, as well as how cautious you are.
Your safe driving habits can save you money on your car insurance and dont require extra legwork on your part. The device sends the data back to Progressive and, hopefully, saves you a bit of cash.
While Progressive advertises its Snapshot program as a way to save money, some users have reported negative experiences with the tool, and even occasionally a rate increase based on the findings of the system. However, even those who didnt achieve the savings they were looking for admitted to learning better driving habits from the results produced by the Snapshot program.
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Pros And Cons Of Progressive Renters Insurance
In order to provide you with the most accurate review, were going to look at the pros and cons of Progressive Renters Insurance.
In this section, we’ll have room to describe the pros in a bit more detail.
What are the pros of Progressive renters insurance?
- Single deductible for renters and auto insurance.
- Low rates for insurance.
- You can customize your policy to fit your budget.
- Theres an easy claims process.
- Flexible payments to fit your financial situation.
What are the cons of renters insurance Progressive?
- Automatic bank withdrawals for monthly payments. Not everyone feels comfortable with this.
- Low business and customer ratings if you look into that kind of stuff.
- You have to give out sensitive information to get a renters insurance quote online. You may not feel comfortable with giving out your SSN to get an insurance quote online.
Those are the pros and cons of Progressive renters insurance so that you have a clear picture of what youre getting into.
Progressive Renters Insurance Review 2022
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list ofour partnersandhere’s how we make money.
Progressive renters insurance policies come either from an affiliate, Progressive Home or from a third-party company called Homesite. If you need a renters policy for your home or apartment and you already have car insurance with Progressive, its worth checking renters rates to see if Progressives multipolicy discount can save you money.
Best for: Existing Progressive auto insurance customers looking to save money with a bundle.
Our writers and editors follow strict editorial guidelines that ensure fairness and accuracy in order to help you choose the financial products that work best for you. Here is a list of our partners and heres how we make money.
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Progressive Renters Insurance Discounts
Keep an eye out for these renters insurance discounts from Progressive:
- Bundling discount when you buy both renters and car insurance from Progressive.
- Secured/gated community discount If you live in a gated community that has an entrance with a 24-hour security guard or passkey access
- Pay in full discount if you pay your policy upfront in full.
- Quote in advance discount if you get a quote at least three days before your policy starts.
- Receive documents by email discount for going paperless.
Progressive Motorcycle Insurance Coverages
Progressive is the top option for motorcycle insurance due to its breadth of coverage options and discounts.
Aside from its free add-ons, Progressive’s motorcycle insurance comes with standard coverages listed below:
- Bodily injury and property damage liability coverage
- Uninsured and underinsured motorist coverage
- Comprehensive and collision coverage
- Medical payments
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Can I Add My Roommate
Are you thinking about your roommate to your Progressive Renters Insurance policy?
We know how expensive it can be to live on your own.
You may be thinking about having a friend move into the spare bedroom or moving in with your partner.
The good news is that you can add a roommate to your policy.
When youre looking for a quote online, youll be prompted with a question about who lives with you.
Its important that you mention your roommate so that theyre covered.
FINANCIAL STRENGTH SCORE: 5 Out of 5
The Downside: You Cant Pick And Choose
Most insurers allow you to pick and choose what kinds of additional coverage you want, but for some reason, Progressive offers them in one big bundle. This means that if youre interested in water backup coverage, you cant get it unless you also buy additional bicycle coverage, which you might not want or need.
Although Progressives add-ons are interesting and potentially useful, its odd that they give you so little control over your policy, which we factored into our score.
Takeaway: Overall, we found Progressives coverage options to be about average.
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Is Progressive Renters Insurance Legit
Progressive has been in business since 1937 so the company has been around for a while. You likely know someone who has user their products in the past.
You dont have to worry about Progressive going under anytime soon or having any issues with payouts.
The company offers many insurance discounts and they have an easy-to-use system so that you can simplify your life when it comes to insurance.
Geico Vs Progressive: Customer Satisfaction
To get a better sense of Progressive’s and GEICOs overall customer satisfaction, we read online reviews from current and past policyholders. Generally speaking, both companies have decent ratings. Customers arent completely dissatisfied with either company, but both carriers have their fair share of negative reviews.
GEICO and Progressive customers complain about denied claims, unfair claim payouts, unfriendly customer service agents, unexpected premium increases, and other issues.
However, we also read positive testimonials from customers who had great experiences with both companies. Many policyholders said they enjoyed GEICOs low rates and Progressives online experience and helpful online tools.
Recap: Should You Choose Progressive Renters Insurance
Progressive isnt really a renters insurance company, and it shows. If you get insurance from their subsidiary, ASI, youre probably in decent shape . On the other hand, if they match you with Homesite, you may receive sub-par coverage.
Unfortunately, Progressive doesnt let you pick between the two insurers theyll assign one to you based on your zip code.
Progressives underwriting partners have better reputations than GEICOs main partner, Assurant. However, the fact remains that when you buy a policy from Progressive, you dont have any control over who your insurer will be. Between this and Progressives higher-than-average prices, were not able to recommend them very highly.
Which Renters Insurance In Nc Is Best For You
While theres no one-size-fits-all renters insurance policy, the providers listed in this review offer a variety of benefits that may be valuable to you.
For example, we recommend Allstate for its comprehensive coverage and affordable policies, Geico for its user-friendly mobile app and Nationwide for those who want to add multiple endorsements to their plan.
Ultimately, we recommend getting quotes from a few different renters insurance providers to compare plan and pricing options and find the right insurer for your home.
Use this simple online toolto compare quotes.
Compare Renters Insurance Policies
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Is Progressive Good Renters Insurance
To put things bluntly, any renters insurance policy is good.
We want you to be protected financially at all times.
As we took a closer look at Progressive Renters Insurance we realize that the policy is very good.
The company works with many underwriters to offer you insurance for your situation.
Our editor’s scores for Progressive Company for pricing, customer service, policy options, and financial stability:
Studenomics Score: 4.6 Out of 5 Stars
- Financial Strength Score: 5
PRICING SCORE: 5 Out of 5
How Do Customers Rate Progressive Life Insurance
Remember, Progressive has grown to become one of the largest insurers in the nation. But how does that play out in how customers feel about the insurer?
Progressives life insurance coverage gets good reviews. While there are fewer overall comments, Progressive scored almost four out of five stars online.
Positive reviews mention low rates of coverage and multiple policy options, and negative reviews commonly refer to customer service when filing a claim.
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Progressive Homeowners Insurance Offers Bundling And Home Safety Discounts But Customer Satisfaction May Be An Issue
Progressive ranks #12 out of 21 in J.D. Power’s homeowners insurance customer satisfaction survey
Progressive offers homeowners, condo, renters, and mobile home insurance. It also offers flood insurance and home warranties. It gives discounts for home security systems, automatic sprinkler systems, bundling your auto and homeowners insurance, and a new home.
To obtain quotes from Progressive, you must have your home’s structure, exterior, interior, utilities, and personal information on hand.
Homeowners insurance protects your dwelling, protects your personal belongings, and offers personal liability coverage for injuries that occur on your property. The table below includes coverages provided by standard homeowners insurance but will vary depending on your provider.
Progressive ranks #8 out of 9 in J.D. Power’s renters insurance customer satisfaction survey. While it does rank in customer satisfaction, Progressive ranks quite low compared to the segment average.
Progressive offers discounts for bundling your auto and renters insurance. You can also earn additional savings for living in a gated apartment complex/community or one that has a security guard.
Renters insurance will cover your personal property in the event of damage and theft. Your landlord is responsible for insuring the building and structure, so you won’t need to pay for dwelling coverage, unlike standard homeowners insurance.
Data from Hippo Insurance
Available Discounts From Progressive Insurance
While many insurance companies offer discounts, Progressive prides itself on the amount it offers. There are several savings opportunities to help everyone find the right insurance.
Theres no limit to the number of discounts you can qualify for, and 95% of Progressives customers qualify for at least one type of savings.
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What Are The Standard Renters Insurance Coverages
Standard renters insurance coverages include personal property, loss of use , personal liability, and medical payments to others. These coverages offer protection for your personal belongings that are damaged from a covered loss and liability if youre legally responsible for damages to someones property or their injuries, plus additional living expenses if you’re forced to live elsewhere while your residence is being repaired or rebuilt. You can also purchase extra coverage in addition to your standard renters insurance policy such as personal injury and water backup coverage.
Here are the basic coverages on a renters insurance policy:
Why Should I Buy Renters Insurance
If youre like many renters out there, you might assume insurance isnt necessary, especially if your landlord already has insurance for the home. Unfortunately, the policy your landlord purchased wont cover all of your personal belongings inside your rented apartment, condominium, or house.
Think about it. What would you do if a fire or water leak destroyed almost everything you own? What if you were a victim of theft? Would you have the money to replace those valuable items? Thankfully, ASI renters insurance can help you feel secure, even if you dont own the place.
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Renters Insurance For College Students
Whether you live in a dorm room or off-campus in an apartment, renters insurance may provide coverage for college students. Your personal belongings such as laptops, tablets, gaming consoles, clothing, books, furniture, and bicycles may be covered under your renters policy if the loss is due to a covered peril, such as theft. A renters insurance policy also provides coverage for liability claims as well as additional living expenses if you’re unable to live in your dorm or apartment due to a covered loss.
Progressives Liability And Collision Coverage
Accidents happen, so making sure youre covered is important. Like most providers, Progressive offers bodily injury and property damage liability to help protect you regardless of who is at fault when something goes wrong. The company will pay the other drivers medical bills and for any damage. It will even protect you in the case of a lawsuit for the ultimate peace of mind.
Collision coverage will protect you if you hit or get hit by another vehicle. You choose your deductible, and Progressive will take care of the rest. Comprehensive coverage will protect your vehicle if something other than a collision damages it. You just pay the deductible, and they will pay the difference.
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How Do Customers Rate Progressive Auto Insurance
Progressive Auto Insurance gets overall average ratings online. With over 2,300 individual reviews, it scored almost three out of five stars.
Positive reviews list price and policy options, and common complaints mention the difficulty of getting claims covered and the quality of recommended service centers. Some users also reported long wait times to speak with a customer service agent.
Can You Bundle Progressive Renters Insurance With Other Policies
Most insurance companies will give you a discount if you buy more than one type of insurance policy. This is called bundling, and its usually the best way to save on renters insurance.
Progressive is a major auto insurer, and unsurprisingly, they offer a bundling discount on renters and car insurance. Their website notes that this discount averages about 3%, which frankly isnt great.
If you dont mind shopping around, youll probably be able to get a higher discount from another insurer. For instance, GEICO offered us a 5% discount on car insurance in Virginia, and State Farm offered us an impressive 9% discount in California.
If you already have Progressives auto insurance and youre satisfied with it, bundling your renters insurance policy with it is a reasonable choice. However, if you dont have either type of policy yet and youre looking to buy them together, you can probably save more money by picking a different insurer.
On the plus side, Progressive also offers bundling discounts when you purchase motorcycle or boat insurance, although these are fairly niche policies that fewer people need.
Takeaway: Overall, we found that Progressives renters insurance bundling options were slightly worse than average.
Progressive offers several other discounts
Like several other providers, Progressive offers discounts if you live in a gated community, if you install a burglar alarm or smoke detectors, or if you pay for an entire year of coverage upfront.
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Overview Of Progressive Renter’s Insurance
Progressive has been in the insurance business since 1937. While they are best known for their Auto policies, their goal since Inception has always been to provide affordable insurance plans to the public. Whether you need auto insurance, renters insurance, or a bundle of different policies, Progressive offers highly competitive rates.Most insurance companies offer a basic renters insurance plan, along with Progressive. However, Progressive offers extra coverage, specialized add-ons, and other customizations that allow customers to have the best policy for their needs.
Regarding application processing, Progressive Insurance has the lead in application processing. Its most notable feature is The Name Your Price tool, which will help you get a policy that aligns perfectly with your budget. A comparison feature shows competitors quotes and rates alongside Progressives quotes.Progressive leads other insurers when it comes to processing applications quickly and effectively.
The Name Your Price tool is an intuitive and user-friendly tool Progressive uses to build a policy around your budget. To ensure that you are getting the best rates, they provide a window showing competitors rates and comparing them side-by-side to what Progressive quotes.If you prefer mobile applications, Progressive offers a smartphone app that will run rates, allow you to file claims, and even request roadside assistance, depending on your policy.