WalletHub, Financial Company
@WalletHub
Yes, Progressive does raise rates after 6 months in some cases. If you’re a new Progressive customer, you’ll see your auto insurance premium go up after your first 6-month policy period if you file a claim or traffic violations get added to your driving record during that time.
Auto insurance rate increases are usually related to increases in the insurance risk of the policy holder. But another reason that Progressive might raise rates after 6 months is that insurance costs market-wide have been rising over time. For example, the amount the average person spends on car insurance increased by 36% from 2010 to 2019, according to the Insurance Information Institute. However, your rate could go down for various reasons, too, like if you get married, move to a more rural area or improve your credit score.
- You had a costly accident. Progressive won't raise your rate when you file a claim for less than $500, whether it’s your fault or not.
- You filed a claim and are not a longtime customer/safe driver. Progressive won’t raise your rate when you file a claim for more than $500 if you’ve been a customer for at least 5 years and haven’t had an accident in the last 3 years – whether it’s your fault or not.
- You’ve gotten two or more speeding tickets in a 3-year period.
- You moved to a more densely populated area (considered a higher risk).
- You added a more expensive car to your policy.
- You added a new driver to your policy (especially a bad driver or teen driver).
- You started using your car for business.
- You increased your coverage.
Remember, auto insurance rates are not stagnant. While they rise as you make claims on your policy, they typically decrease as you get older, until about age 75, and as the number of years you’ve been an active driver increases. With Progressive, you can avoid rate increases on your auto insurance policy every 6 months as long as you don’t file any claims and you maintain a good driving record.
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@924sorioledr23451: we have only been with progressive 5 months and already got a renewal for our 6 months that out rates are going from $ 216 a month to $272 a month...no claims or tickets but their excuse is our e-sign discount drops off and car parts in our area have skyrocketed in the last 6 months which I call big BS...currently looking for a new insurance company that aren't crooks!!
This article is totally misleading! We started with Progressive auto insurance with 2 cars, 3 drivers in Feb 2023. We agreed to use their Snapshot driving monitoring device on both cars to track our driving behavior in hopes of getting rate discounts upon 6-month renewal. We just finished our Snapshot period and got discounts for safe/good driving on both cars. Nevertheless, our new rate for the next 6-month period for the same coverage, no claims, and no traffic violations is 67% HIGHER than our current rate!!!!! That’s $903 more for the next 6-month period!! I understand that the cost of everything in Biden’s wonderful world is higher than 6 months ago, but a 67% increase is absurd. I had heard Progressive lures in new business then sticks it to them, but I switched anyway - stupid me!! Now, I’ll be leaving one of the most dishonest companies out there!! Buyer Beware… of Progressive!! They are charlatans!! Adios to them and good riddance!!! PS - meanwhile Progressive’s CEO makes over $13 MILLION per year in compensation!! What a joke!!