Progressive Auto Insurance: Will they raise your rates for no reason?
I’ve always gone with local insurance companies, and Farmers. I’ve had good experiences. But my husband and I got a quote from progressive for auto insurance and we’ll be saving 75 dollars a month. However, I consider Progressive and companies like Geico in the same boat, and my husband says he used to have Geico and every six months they would raise his rates for no reason (not because of accidents or tickets), and I’m scared that will happen with us if we switch. Have you had this experience with them? Or are they good as far as rates? Thanks
Progressive has a habit of "uprating". You forget to send in the prior policy, you lose that credit, and get the uprate. They renew every six months, so every ticket will hit you faster.
Don’t get me wrong, I’ve had lots of customers very happy with Progressive. If you’ve got great credit, and plan on keeping it great, and don’t have claims issues, your rates will stay low. But they WILL check your credit every six months, and every time your policy renews, they will completely re-rate and re-underwrite you.
When you’re with a local agent with a company like Farmers, Travelers, Erie, etc, they tend to just renew you and not re-underwrite you every year, unless you have a claim.
July 17th, 2010 at 6:19 am
Your rates are not determined only by you, your driving record and y our claims. Every insurance company raises – and lowers – rates as costs and claims experience of the company as a whole goes up and down.
Every single one. That’s what insurance is – sharing the risk.
Of the four companies you mention, Progressive is the last one I’d be insured with. They have their own policy form and in many areas it limits coverage more than the other companies you mention. And they do the same thing you’re worried about the other companies doing.
Go with one of the other three.
Good luck!
References :
15 years as an insurance agent, retired.
July 17th, 2010 at 6:58 am
Progressive has a habit of "uprating". You forget to send in the prior policy, you lose that credit, and get the uprate. They renew every six months, so every ticket will hit you faster.
Don’t get me wrong, I’ve had lots of customers very happy with Progressive. If you’ve got great credit, and plan on keeping it great, and don’t have claims issues, your rates will stay low. But they WILL check your credit every six months, and every time your policy renews, they will completely re-rate and re-underwrite you.
When you’re with a local agent with a company like Farmers, Travelers, Erie, etc, they tend to just renew you and not re-underwrite you every year, unless you have a claim.
References :