Pros and Cons of Progressive Renters Insurance
Compare the pros and cons of a Progressive renters insurance policy:
Progressive Renters Insurance at a Glance
Our rating: 4.9
Year founded: 1937
J.D. Power rating: 831 out of 1,000
AM Best rating: A+*
State availability: 50
*AM Best rating is accurate as of May 2023.
Progressive State Availability
Progressive uses a network of affiliated and unaffiliated insurance companies to deliver home insurance and renters insurance coverage. This lets Progressive put policies into place in 50 states.
Cost of Progressive Renters Insurance
The average monthly premium of a Progressive renters insurance policy is $15.42, slightly higher than the national average cost of $15 a month. Policyholders might be able to use discounts — like bundling renters insurance and car insurance — to lower their premiums.
Keep in mind that these are estimates. You can get an online quote to see how much Progressive’s renters insurance coverage would cost for you.
Progressive Discounts
Progressive offers several discounts to renters insurance customers, most of whom easily qualify. That plus a multi-policy discount helps people save an average of 3%. Among the discounts:
- Multi-policy discount
- Quote in advance
- Receive documents by email
- Pay in full
- Secured/gated community discount
- Single deductible benefit for bundled policies
Progressive Renters Insurance Reviews
As with those of many insurance companies, reviews for Progressive are either overly negative or quite positive. Customers leaving reviews with the Better Business Bureau and Trustpilot seem unhappy with their service. Many reviews and complaints mention long waits for claim payouts or poor customer service. However, almost all of these reviews relate to Progressive auto insurance, and many reviews come from other drivers who have been in an accident with a Progressive customer. Positive reviews, on the other hand, regularly mention low rates and great customer service experiences as well as the easy-to-use website and mobile app.
Real provider reviews from customers:
“[As it’s online insurance], you can only expect so much. This is a business working to a high level of efficiency. I got what I expect, fast and easily updatable policies, lots of notifications, low prices and great service.” — Benjamin B. via Trustpilot
“They pay their claims. I had an insurance claim, and I expected the low end of the deal. To my surprise, their pay out for my accident was more than I was expecting. I truly thought since my premiums were so low, when it came time for a claim, I wouldn’t get hardly anything. I was wrong, therefore Progressive keeps my business for as long as I drive. Their competitors aren’t so fair, and really, I wouldn’t trust anyone but Progressive now that I know they handle claims with integrity.” — Klamath F. via Trustpilot
“I have been with Progressive for some years now, and the process to get them documents is frustrating. I am not happy with the process to submit documents and the way they handle the situation if a document needs to be resubmitted. I was very frustrated, and they were no help in making the situation right.” — KK via BBB
“I decided to buy Progressive’s renter’s insurance because their online purchase form was simple. However, later I started to dig into the content of the personal liability part of this renter’s insurance, and it seemed quite limited… I called Progressive and spoke with two different agents. Both told me that [it] only covers you for occasions related to your insured home. Nothing outside of it is covered… I find that this type of liability insurance is quite useless and pointless… Progressive got me by their convenient subscription system but took something way more important away from me. And it’s something that you can find out only if you read your policy document carefully. I’m switching back to my previous renter’s insurance company.” — Elena via Trustpilot
The Bottom Line
Progressive can be an easy, affordable way to get renters insurance, especially if you also need car insurance. With discounts for bundling auto insurance and other coverages, including renters insurance, Progressive is our top pick for bundling. By tying your coverages together, you don’t just get a lower rate on your coverage. You also make managing your insurance policies easier because you only have one website, mobile app and customer service team to work with.
Depending on the discounts you qualify for, you may have to pay rates that are slightly higher than average for Progressive renters insurance. If you’re looking for the lowest price, you may want to try a different insurance provider, such as State Farm or Lemonade. Both insurance carriers offer lower average premiums than Progressive, but you may not get the same coverage options. Lemonade, for example, offers coverage for as little as $5 per month for qualified renters but isn’t available in every state. State Farm, on the other hand, has affordable coverage options but only three deductible options for your policy.
Overall, Progressive renters insurance can provide quality coverage for your personal belongings and protect you from the cost of liability. You can get a Progressive renters insurance quote online and use it to compare to other carriers to help you make the best choice when shopping for renters coverage.
Tara Seboldt is a writer specializing in insurance and personal finance. Prior to writing full-time, Tara spent several years in the financial advisory and life insurance industry. She uses her professional background to help readers better understand complicated (and sometimes boring) topics. When she’s not writing, you’ll find Tara hiking with her dog, riding her horse or planning her next ski trip.
Sabrina Lopez is an editor with over six years of experience writing and editing digital content with a particular focus on home services, home products and personal finance. When she is not working on articles to help consumers make informed decisions, Sabrina enjoys creative writing and spending time with her family and their two parrots.
