No, Progressive is not cheaper than Geico for car insurance. A minimum-coverage car insurance policy with Progressive costs $1,033 per year, on average, while a minimum-coverage policy with Geico costs an average of $796 per year. Full coverage from Geico costs less than Progressive’s coverage, too.
Average Cost of Car Insurance From Progressive vs. Geico
$1,161 per year
$888 per year
$5,767 per year
$3,841 per year
$561 per year
$460 per year
$2,315 per year
$1,931 per year
Note: Rates are an annual approximation based on a driver with a clean driving record in California. Actual rates will vary.
Progressive is so cheap because it offers a wide variety of discounts and gives consumers tools to acheive the best rates possible, such as Progressive's price comparison tool and their Name Your Price® program. A minimum coverage policy from Progressive costs an average of $54 per month, and Progressive premiums can be made even cheaper by taking advantage of discounts such as continuous insurance discount and paperless discount. Plus, Progressive rewards customer loyalty with discounts for insuring more than one car and bundling multiple policies, such as home and auto.… read full answer
Average Monthly Rates for Progressive vs. Top Competitors
Note: Premiums are representative of a 45-year-old good driver in CA; individual premiums will vary.
Progressive is especially cheap for safe drivers in particular. That’s because Progressive has special savings opportunities for drivers in this category, such as lower rates for drivers who have not had any accidents or tickets for at least three years.
Your final premium is based on a variety of factors, though, such as your driving record, insurance history, and more. Every insurance company determines their rates differently, so even though Progressive is among the cheapest car insurance companies, the only way to confirm you’ve found the lowest price is to compare quotes from multiple companies.
Yes, Progressive is an “A+” rated insurance company, according to financial analysis by AM Best. AM Best’s “A+” designation means that Progressive is in an excellent position to pay out claims to customers.
Car insurance companies are rated on a variety of metrics in addition to financial strength, including customer satisfaction and claims processes. Below, you can find a few additional ratings for Progressive that speak to its overall reputation.… read full answer
To cancel a Progressive insurance policy, call (866) 416-2003 to speak with a customer service representative and arrange for the cancellation to take effect immediately or at a future date. You can’t cancel Progressive insurance online, but you can cancel over the phone at any time. Just remember to purchase a replacement insurance policy that takes effect prior to cancellation in order to avoid a lapse in coverage, if you plan to continue driving.… read full answer
How to Cancel Progressive Auto Insurance
Call (866) 416-2003 and follow the prompts to speak to a representative.
Provide the date you want the cancellation to go into effect.
Pay any necessary cancellation fees.
Confirm that you receive a refund for unused premiums.
Progressive says you will be refunded the money you paid in advance for coverage you won’t use. Unfortunately, they don’t give details about how they pro-rate refunds or whether they charge any cancellation fees.
Progressive Insurance Cancellation Fees
Customers report a range of experiences with Progressive’s cancellation fees. Some were charged 10% of their outstanding premium, while others paid a flat rate of $50 to $65. Many say they paid no fees at all.
The amount you have to pay to cancel Progressive insurance coverage depends on a few factors, like state laws where you live, how far into the policy term you are, and how often you pay your premium. Check your Progressive policy or speak with customer service to confirm what fees (if any) you’ll have to pay before you cancel.
How to Decide When to Cancel a Progressive Insurance Policy
It’s a good idea to shop around for car insurance and compare quotes from different companies. But make sure you don’t lose more in fees by switching policies mid-term than you gain in lower premiums.
It’s usually easiest to wait until the end of your policy period to switch insurers—just make sure you have a new policy in place before you cancel with Progressive. Driving without insurance can have serious consequences, and a lapse in coverage of any length can make future rates more expensive.
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