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Progressive is one of the largest providers of auto insurance in the U.S and has been featured in Fortune 500 for the last 24 years. What you may not know is that Progressive also offers home insurance and renters insurance.
“We want to be there for our customers every step of their journey. From their first car to the moment they buy their first home and beyond. That’s why we offer a robust suite of coverages,” says Dan Witalec, Customer Acquisition Leader at Progressive Insurance.
Here’s an in-depth review detailing what to expect if you choose Progressive home insurance or Progressive renters insurance for coverage. In addition, you’ll find out what coverage is available, how to get a quote, and the pros and cons.
What do Progressive home insurance and renters insurance cover?
Below are the basic coverage types available through Progressive’s home and renters insurance. Once you purchase a policy, a third-party insurer will be solely responsible for the claims. For this reason, the claim process and customer service can vary by the insurance provider. Progressive lists all of their partner insurers on its website.
What is Progressive Home Advantage and Homeowners Insurance Coverage?
Progressive Home Advantage policies are placed through Progressive Advantage Agency, with affiliated and third-party insurers who are solely responsible for claims. Progressive’s nationwide homeowner’s insurance coverage includes the following coverage types.
Dwelling and other structures
Dwelling coverage will cover the costs to repair damage to your house. Similarly, other structure coverage covers damage to any stand-alone structures on your property. For example, stand-alone structures can be properties such as a shed or garage. Note that the company offers separate policies if you own a condo or a mobile home.
You have the option to choose from three policies which have three varying levels of coverage:
- First y,ou have homeowners one, which covers 11 perils. If you don’t know what perils are, they are causes of damage such as fire, wind, tornadoes, falling trees, etc.
- Then there are homeowners two, which covers 18 perils (including those in policy one).
- Finally, you have homeowners three, which covers you against most known perils (including all those in policy one and two).
The more perils you want coverage for, the more your policy will cost. In addition to perils, damages resulting from earthquakes, floods, nuclear accidents, or war require an additional hazard insurance policy.
Progressive Home Insurance and Progressive Renter’s Insurance: Loss of use
If your home incurs damages and you have to find temporary housing, policies will cover those costs. Insurers will also reimburse you for the amount you have to spend beyond your normal budget on meals out.
Most policies also cover the belongings inside your house in the event of theft, damage, or destruction. For example, personal property policies will typically include coverage for furniture, electronics, tools, jewelry (to an extent), and more. Furthermore, the coverage will your belongings if something happens to them while outside your home. Note that there are limits, so expensive items will require additional coverage.
Liability and medical payments
If someone sues you for personal injury or property damage, this coverage will reimburse you. For example, liabilities and medical payments such as legal fees, medical bills, and damages would be covered under this policy. Additional coverage is available for other types of lawsuits (i.e., slander or libel).
Sometimes standard coverage isn’t enough. In addition to standard coverages, the below listed are other add-on coverage options.
Progressive’s partners offer:
- Guard on inflation: If your home’s replacement cost increases due to inflation, this coverage ensures that insurance limits cover at least 80% of the cost.
- Guarantee your replacement cost: This protects you against inflation. However, this will guarantee coverage for the full replacement cost of your home. Coverage may need adjusting monthly, quarterly, or yearly.
- Personal article floater: This policy covers specific items, typically high-end, which the personal property coverage doesn’t fully cover.
- Secondary residence coverage: If you have a secondary home, you will need to add this on to extend your policy to cover it in addition to your primary home. For example, if you have a beach house, you will need to add your beach house to extend your policy to cover the home.
- Flood insurance: This add-on feature protects against damages that occur as the result of a flood.
- Credit card and identity theft protection: This will reimburse you for the unauthorized use of your credit cards or checks.
- Money and securities protection: Coverage is available for deeds, money, bank securities, and more.
Next, let’s look at renters insurance.
Progressive Home Advantage And Renter’s Insurance Coverage
Progressive’s nationwide renters insurance typically includes the liability, medical payments, personal property, and loss of use coverage explained above. Above all, the dwelling and other structures are the responsibility of the landlord.
Get a Quote with Progressive
When it comes to getting a policy with Progressive, the company has put a focus on streamlining the process through automation using a comparative rating system.
Witalec explains, “Progressive was the first to introduce the comparative rating experience to the auto insurance industry in 1996, and now we are bringing the same experience for customers looking for home insurance. Leveraging years of data and expertise, Progressive provides a simple and comprehensive home insurance purchasing experience available to customers across multiple platforms.”
Progressive Home Insurance Application Process:
1.) Visit the Progressive homesite and navigate to the page for homeowners insurance. Enter your zip code and click “Get a Quote.”
2.) Enter your address.
3.) Answer a few basic questions.
4.) Provide information about your home.
5.) Answer questions about your home’s structure.
6.) Give details about your home’s exterior.
7.) Answer questions about your home’s interior.
8.) Describe the utility and safety features of your home.
9.) Answer a few more questions about yourself and any other owners.
10.) Wait for results.
Progressive Renter’s Insurance Application Process:
1.) Visit the Progressive homesite and navigate to the page for Renters insurance. Enter your zip code and click “Get Quote.”
2.) Enter your personal information.
3.) Provide your residential address that will require coverage.
4.) Provide some additional information.
5.) Read and agree to this disclosure. Click “Next.”
Renters insurance quotes from Progressive are as easy as that.
FAQ on Progressive Home Insurance & Renters Insurance
What does Progressive home insurance cover?
Homeowners insurance covers so much more than just your house. Homeowners also covers other structures on your property (barn, shed, fence), your belongings (furniture, clothes, electronics), lawsuits, and even temporary living expenses during home repairs. And yes, these coverages come standard at no extra cost.
Does Progressive home insurance cover mold?
Most insurers don’t cover mold removal or damage from mold or bacteria. But that doesn’t mean you shouldn’t file a claim. If the mold in your home or residence was caused by something sudden or accidental, such as a bursting pipe or some other covered incident on your policy, you may be protected. If the mold grew because of neglected home maintenance, repeated water leaks, and seepage or long-term exposure to humidity, they won’t cover the damage.
What is Progressive renters’ insurance?
Progressive offers renter’s insurance through a second-party underwriter. The company provides standard coverage amounts to meet all your home and contents insurance needs, but it lacks some standard discounts and support options offered by other insurers.
How does Progressive renter’s insurance work?
Renters insurance protect your possessions and help pay for unexpected expenses. In addition to your belongings, renter’s insurance can pay for medical bills if someone is injured at your residence, lawsuits, and temporary living expenses if you’re forced to live elsewhere because your home is uninhabitable.
How much is renter’s insurance?
For 2017, the average cost of an ASI Renters insurance policy from Progressive ranges from $13-$25 per month. Renters insurance is fairly inexpensive. Plus, you can get extra discounts when you bundle it with your auto insurance.
Progressive Insurance Review and Summary
The fact that Progressive does not underwrite its own policies means that claims will be handled by a third party. As a result, the experience can vary from customer to customer.
However, when looking at the quote process and pricing, Progressive is attractive. You can easily provide your information online and receive a quote within minutes. And if you have an auto insurance policy with Progressive, you can get a 5% discount by bundling it with property insurance.
When it comes to the coverage, Progressive’s standard renters and home insurance coverages include all the basics. Likewise, the add-ons are great, too. Most noteworthy, the company advertises policies that guard against inflation, which not all insurers provide.
Beyond that, there’s personal article floaters, credit card and identity theft, money, and securities protection. All of this adds up to a comprehensive solution.