Avoid seeing any State Farm vs. Progressive commercials today. Both are household names in the insurance industry, and they rank first and second in the country for auto insurance policies sold. They spend billions of dollars every year on marketing to rise to the top and stay there. Many companies offer auto insurance quotes, but State Farm vs. Progressive are two of the biggest. It is in your best interest to compare plans side by side to find one that offers the protections you require at a price you can afford. In this article, we will discuss the full comparison between State Farm vs. Progressive car and home insurance, as well as the difference between Geico.<\/p>
According to the National Association of Insurance Commissioners (NAIC), Progressive is the third-largest car insurance provider in the United States, behind State Farm and Geico. The company will write more than $35.8 billion in vehicle insurance premiums in 2021, giving it a 13.7% market share.<\/p>
Progressive was founded in 1937. In 1956, the firm started paying special attention to motorists with moving infractions such as at-fault collisions. The company is still providing low prices for those motorists today. In light of this, our 2022 analysis of the best auto insurance providers found that Progressive offered the most affordable rates to high-risk drivers.<\/p>
According to the NAIC, State Farm accounts for 15.9% of the total U.S. vehicle insurance market, making it the industry leader. The business wrote more than $41.6 billion in car insurance premiums in 2021. <\/p>
On the other hand, State Farm has been around for a century, and in that time it has been known for its low rates and extensive discounts. In addition, the organization has over 19,000 insurance agents in all states besides Massachusetts and Rhode Island, making it simple to get in touch with a local expert.<\/p>
The results of our policyholder survey and ranking of the Best Car Insurance Companies of 2023 demonstrate that these people favor State Farm over Progressive. On both lists, State Farm is #3 out of 10, while Progressive is #10. In addition, our analysis revealed that State Farm typically offers lower annual rates than Progressive for many of the demographics we looked at, including teen and senior drivers as well as those with less-than-stellar driving records.<\/p>
Our study of policyholders shows that State Farm outperforms Progressive in terms of customer service, claim processing, and loyalty.<\/p>
However, Progressive does have its strengths. When compared to State Farm’s prices, its rates for drivers with bad credit are much more reasonable. Our poll results also showed that customers were more satisfied with Progressive’s claims service.<\/p>
Each insurer provides similar savings opportunities, such as a discount for bundling home and vehicle policies or a discount for using a tracking tool to monitor driving behavior (Snapshot for Progressive or Drive Safe and Save from State Farm). Progressive also offers savings for customers who choose to sign their documents electronically. Both initiatives, however, received low satisfaction scores from policyholders in our study.<\/p>
Also, keep in mind that available coverage options and discounts may vary depending on your region.<\/p>
Both Progressive and State Farm provide the usual array of coverage options, including liability insurance for injuries and property damage, uninsured motorist coverage, collision insurance, and comprehensive coverage.<\/p>
Differences between the two service providers can be seen in their supplementary coverage options. Furthermore, in the event that your vehicle breaks down while you’re far from home, State Farm provides trip interruption benefits that can assist in covering food and other costs. Progressive’s travel interruption insurance only covers trips by motorcycle and boat.<\/p>
Neither Progressive nor State Farm provide gap insurance, which pays the difference between the value of your automobile and the amount still owed on your loan in the event of a total loss. However, Progressive does offer lease\/loan payback coverage, which restricts the payout to 25% of the vehicle’s value. State Farm offers gap coverage, but only for vehicles financed through State Farm Bank.<\/p> State Farm is typically less expensive than Progressive for the typical driver. When compared to Progressive’s sample rate of $1,540 and the national average of $1,547, State Farm’s average annual rate of $1,279 is significantly lower. In almost every category we compared, State Farm’s average premiums for drivers were lower.<\/p> Also, keep in mind that your auto insurance rate is calculated uniquely for you depending on a number of criteria, such as your location, driving history, age, and the amount of coverage you want.<\/p> Teenage drivers are the least knowledgeable on the road, and as a result, they pay the highest rates for auto insurance. When it comes to car insurance for 17-year-olds, State Farm is the most affordable choice for both male and female drivers. When comparing sample annual rates, State Farm is around $1,700 cheaper than the national average for teen drivers, while Progressive is almost $2,700 more expensive. Teenage male drivers, regardless of gender, will face increased insurance costs.<\/p> While both Progressive and State Farm provide substantial car insurance reductions, clients will find that the discounts they offer vary. The usage-based Snapshot program of Progressive tracks customer driving behavior, whereas State Farm’s safe driver discount is only available after three years of safe driving without tickets or accidents.<\/p> You may learn more about the deals provided by these industry leaders below.<\/p> Again, the survey shows that State Farm is preferred to Progressive in this respect. In this subcategory, State Farm and Farmers tie for third place, while Progressive, along with Nationwide, Geico, and Allstate, tie for second-to-last place.<\/p> However, customers were more satisfied with Progressive in several aspects of filing claims than they were with State Farm. For instance, whereas 50% of State Farm customers were pleased with the simplicity of filing a claim, 52% of Progressive customers felt the same way. Further, 48% of the questioned Progressive consumers indicated they were entirely satisfied with the status updates they got concerning their claim, compared to 44% of State Farm customers.<\/p> Telematics insurance programs are available from both Progressive and State Farm, and they can help you save money if you’re a careful driver. After signing up for Progressive’s Snapshot\u00ae program, your driving patterns are monitored via a mobile app or plug-in device for a certain amount of time. From that point on, careful driving will earn you discounts. <\/p> Snapshot has the potential drawback of raising your rates if you are deemed a dangerous driver. It’s also vital to understand that the Snapshot program is not available in California.<\/p> Drive Safe & SaveTM is the name of State Farm’s usage-based program. Simply enrolling in the program will get you a discount, and staying accident-free until your policy renewal can save you up to 30% more money. Drive Safe & Save analyzes your driving based on factors including acceleration, braking, cornering, speed, time of day, and phone use.<\/p> In addition, the states of California, Massachusetts, and Rhode Island do not participate in the Drive Safe & Save program. Some North Carolina motorists may not be eligible for discounts.<\/p> The J.D. Power 2021 U.S. Auto Claims Satisfaction StudySM and the J.D. Power Insurance Shopping Study both give State Farm top marks. State Farm scored 885 out of a possible 1,000 in the shopping study and 892 out of a possible 1,000 in the claims satisfaction area, placing them first and sixth, respectively. State Farm ranks significantly higher than typical in both categories. Both J.D. Power surveys gave Progressive below-average ratings.<\/p> When it comes to BBB customer ratings, neither company obtains good reviews. People are more likely to report unfavorable experiences to the BBB than positive ones, so this is par for the course in business. The Better Business Bureau has given State Farm an A+ rating, whereas Progressive has been given an F.<\/p> In some circumstances, Progressive does hike rates every six months. You should expect an increase in your Progressive premium if you make a claim or receive traffic tickets within the first six months of your policy’s inception.<\/p> Variables like a person’s driving history, claims experience, and geographic location affect insurance premiums. Progressive examines your driving habits, accident history, and other pertinent data to determine if your rates need to change. The underwriting standards and market fluctuations of an insurance provider might affect premium costs. Rates are often reevaluated every six to twelve months when policies are renewed. The particular adjustments to rates, however, might vary substantially based on factors like an individual’s financial situation and the rules in place. <\/p> Get in touch with Progressive’s customer support or check out their website to receive the latest and greatest details on their policies.<\/p> State Farm and Progressive are both well-known car insurance providers, each with its own set of advantages and considerations. State Farm is widely recognized for its extensive network of local agents, providing personalized service and face-to-face interactions. They emphasize customer relationships and are often praised for their excellent customer service. State Farm offers a variety of coverage options and discounts, catering to different customer needs.<\/p> On the other hand, Progressive is known for its user-friendly online platform and innovative approach, offering tools like Name Your Price\u00ae and Snapshot\u00ae. Progressive tends to appeal to tech-savvy individuals who prefer managing their policies online or through the mobile app. They are also known for their competitive rates and unique programs for safe drivers, making them an attractive choice for those looking for affordable options.<\/p><\/td> Progressive <\/td> State Farm<\/td><\/tr> Bodily injury liability (BI)<\/td> \u2713<\/td> \u2713<\/td><\/tr> Property damage liability (PD)<\/td> \u2713<\/td> \u2713<\/td><\/tr> Collision coverage<\/td> \u2713<\/td> \u2713<\/td><\/tr> Comprehensive coverage<\/td> \u2713<\/td> \u2713<\/td><\/tr> Medical payments (MedPay)<\/td> \u2713<\/td> \u2713<\/td><\/tr> Personal injury protection (PIP)<\/td> \u2713<\/td> \u2713<\/td><\/tr> Uninsured or underinsured motorist (UM\/UIM)<\/td> \u2713<\/td> \u2713<\/td><\/tr> Roadside assistance<\/td> \u2713<\/td> \u2713<\/td><\/tr> Accident forgiveness<\/td> \u2713<\/td> \u2713<\/td><\/tr> Loan\/lease payoff<\/td> \u2713<\/td> <\/td><\/tr> Rental car reimbursement coverage<\/td> \u2713<\/td> \u2713<\/td><\/tr><\/tbody><\/table><\/figure> Progressive vs. State Farm: Which Is Cheaper?<\/strong><\/span><\/h2>
<\/td> 17-Year-Old Females<\/td> 17-Year-Old Males<\/td><\/tr> Progressive<\/td> $7,757<\/td> $8,525<\/td><\/tr> State Farm<\/td> $3,280<\/td> $4,019<\/td><\/tr> National Average<\/td> $5,076<\/td> $5,756<\/td><\/tr><\/tbody><\/table><\/figure> State Farm Is Cheaper for Teen Drivers<\/span><\/h2>
Progressive vs. State Farm: Discounts<\/strong><\/span><\/h2>
<\/td> Progressive Car Insurance Discounts<\/td> State Farm Car Insurance Discounts<\/td><\/tr> Multi-policy<\/td> \u2713<\/td> \u2713<\/td><\/tr> Multi-car<\/td> \u2713<\/td> \u2713<\/td><\/tr> Continuous coverage<\/td> \u2713<\/td> <\/td><\/tr> Good student<\/td> \u2713<\/td> \u2713<\/td><\/tr> Good driver<\/td> \u2713<\/td> \u2713<\/td><\/tr> Accident-free<\/td> <\/td> \u2713<\/td><\/tr> Driver\u2019s education<\/td> <\/td> \u2713<\/td><\/tr> Defensive driving<\/td> <\/td> \u2713<\/td><\/tr> Anti-theft device<\/td> <\/td> \u2713<\/td><\/tr> Passive restraint<\/td> <\/td> \u2713<\/td><\/tr> Usage-based<\/td> \u2713<\/td> \u2713<\/td><\/tr> Pay-in-full<\/td> \u2713<\/td> <\/td><\/tr><\/tbody><\/table><\/figure> State Farm vs Progressive: Claims<\/strong><\/span><\/h2>
State Farm vs Progressive: Usage-Based Insurance<\/strong><\/span><\/h2>
State Farm vs Progressive: Customer Experience<\/strong><\/span><\/h2>
Does Progressive Raise Rates After 6 Months?<\/strong><\/span><\/h2>
State Farm vs Progressive: Car Insurance<\/strong><\/span><\/h2>