Progressive Renters Insurance Review (2020)

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A renters insurance policy can protect the apartment, condo, or house you’re renting and your personal belongings. Keep reading this Progressive renters insurance review to learn about the company’s policies and pricing.

Progressive has been around for more than 80 years and provides a variety of insurance products and services, including renters insurance. With a Progressive renters insurance policy, you can get personal property, loss of use, medical payment, and liability coverage for under $25 a month.

The This Old House Reviews team created this Progressive renters insurance review to help you determine if this is the best renters insurance company for you and your home.

Pros and Cons of Progressive

Here are the Progressive advantages and disadvantages that stood out to our team:

Progressive Coverage

Progressive policies, including renters and home insurance, offer named-peril coverage, which means only the events explicitly stated in your policy are covered. These events include:

  • Windstorms
  • Fire and smoke
  • Lightning
  • Hail
  • Tornadoes
  • Explosions
  • Theft and vandalism
  • Car or aircraft crashing into your home
  • Falling trees or other objects
  • Weight of snow, sleet, or ice
  • Water damage

Note: Progressive renters insurance doesn’t cover water damage from floods. You will have to purchase a separate flood insurance policy for water damage coverage.

In addition to providing named-peril coverage, a Progressive renters insurance policy covers these four areas:

1. Personal Property

This covers the cost of the personal belongings you have in your rented home. Progressive allows you to choose between replacement cash value (RCV) and the actual cash value (ACV). RCV costs more, but it covers replacement costs as if your items were new. ACV takes into account the depreciated value of your items and gives you that cash amount.

2. Loss of Use

If an accident like a fire makes your home inhabitable for a period of time, your policy will cover living expenses. This could include payment for a hotel room and food expenses.

3. Liability

If you’re found guilty of bodily injury or property damage to someone else, your policy will cover the costs. It will also cover the legal costs if someone sues you.

4. Medical Payments to Others

If someone is injured in your home, your policy will cover their medical bills up to a certain amount.

Here are the coverage options based on a North Carolina residence:

Progressive Optional Coverage

For an additional cost each month, you can add optional coverage for water backup, computers, earthquakes, and personal injury.

How Much Does Progressive Cost?

According to the company, the average cost of renters insurance from Progressive is between $13 and $25 per month, but your insurance rates will depend on where you live, your gender, and how many pets you have, among other factors. Using Progressive’s online tool, we received the monthly cost for a young woman living in a one-bedroom apartment in Raleigh, North Carolina:

Progressive Renters Insurance Discounts

To save some money on your renters insurance policy, take a look at these six Progressive discounts:

  • Multi-policy—You can save up to 12% when you bundle renters and auto insurance policies.
  • Quote in advance—You can get a discount for getting a quote at least three days before your policy starts.
  • Receive documents by email—Going paperless can help the environment and your bank account and Progressive will give you a discount for doing so.
  • Pay in full—Your renters insurance policy will be cheaper when you pay upfront instead of splitting it into months.
  • Secured/gated community—If your community has a security guard or a key to get in, you’ll receive a discount for having this safety feature.
  • Single deductible benefit—If an event occurs that requires you to file a claim for both auto and renters insurance, you will only be charged one deductible. For example, if someone steals your car, Progressive auto insurance will cover the theft of the car and Progressive renters insurance will cover the theft of the belongings inside.

To get your a free quote from Progressive, have the following personal information on hand:

  • Address
  • Gender
  • Type of rental
  • Number of units in the building
  • Number of pets
  • Date of birth
  • Type of siding
  • Proximity to fire hydrant and fire station
  • Safety features

Customer Service and Claims Support

Progressive has a customer portal, a chat function on its website, a customer service line at 888-671-4405, and a mobile app that allows you to tailor your customer service experience to the type of communication you like best.

Regarding cancellation, you can cancel a Progressive policy at any time by calling 866-416-2003. Progressive isn’t clear about cancellation fees, but most customers report no fee or a low one. You may also be eligible for a prorated refund for the amount of the policy you have left.

How Do I Find the Best Renters Insurance Policy?

With all of the insurance providers out there, it can be difficult to know where to look for renters insurance. Here are a few tips to make your search as painless as possible:

  • Take an inventory of your belongings—To know how much personal property coverage you need, you have to determine how much your belongings are worth, so take an inventory of them before you begin your search.
  • Start with your auto insurance company—Insurance companies often offer a discount for bundling several insurance policies, so be sure to get a quote from your car insurance provider to see how much you could save.
  • Get several quotes—The best way to find a policy that works for your budget and your home is to get more than one quote and compare cost and coverage.

Compare Progressive to the Competition

If you’re not sure whether Progressive is right for you, compare it to other top-rated renters insurance carriers below.

Our Conclusion

Progressive not only offers coverage for the four main areas of renters insurance, but it also goes above and beyond to provide its customers with good customer experience, offering four communication channels and six discount options.

As you start your renters insurance search, we recommend getting a quote from Progressive, along with a few others so that you can compare pricing and coverage.

Progressive Company Overview

  • CEO: Tricia Griffith
  • Years in business: 83
  • State availability: 50
  • Address: 6300 Wilson Mills Road
  • City/State: Mayfield Village, OH
  • Zipcode: 44143
  • A.M. Best financial strength rating: A+

To share feedback or ask a question about this article, send a note to our Reviews team at reviews@thisoldhousereviews.com.

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