It is imperative that you choose a good auto insurance company for your cars. Today we will be reviewing two of the most popular insurance companies in the world. In the face-off between Allstate Vs Progressive car insurance we’ll take a look at average insurance rates, financial ratings, discounts, and more.
Quick history of both companies.
The Allstate Corporation has been a pioneer of the insurance industry since 1931. Currently, Allstate is the second largest personal lines insurer in the United States.
Progressive was founded in 1937 by Joseph Lewis and Jack Green. In 1995 Progressive became the first major auto insurer in the world to launch a website.
ValuePenguin did a study of 30-year-old males with and without an accident. In the study, Progressive customers without an accident paid $300 less on their annual premium than Allstate customers.
Progressive customers with an accident paid over $800 less on their annual premium than Allstate customers.
Rates vary from person to person. The only true way to find out which company offers cheaper insurance is to compare rates.
In J.D. Power’s customer satisfaction study Allstate scored higher than Progressive by 11 points. On a 1000-point scale Progressive received 853 points while Allstate received 864 points. In overall claims satisfaction both companies received 3 out of 5 Power Circles. Allstate scored higher by one Power Circle in the estimation process and the repair process part of the insurance study. However, Progressive scored higher by one Power Circle in the rental experience part of the study. Although both companies are almost identical in claims satisfaction, Allstate wins in the claims category.
Financial Strength Ratings
Using three of the top financial rating organizations, we will determine the financial stability of both insurers. This report allows us to know if your insurance company has the ability to pay your claim or not.
- A.M. Best (Allstate) – A+ (second highest of 16 categories)
- Standard & Poor’s (Allstate) – “AA-” (fourth highest of 22 categories)
- Moody’s Investors Service (Allstate) -Aa3 (fourth highest of 21 categories)
- A.M. Best (Progressive) – A+ (Superior)
- Standard & Poor’s (Progressive) – “AA” (Slightly better than Allstate)
- Moody’s Investors Service (Progressive) – Aa2 (Slightly better than Allstate)
Progressive – With Progressive you are able to combine as much policies as you desire. 95% of customers will qualify for at least one discount.
- Snapshot is progressive’s awesome program that allows you to save on your auto policy by being a safe driver. It’s simple! Driver safe and you will save more. Here are the best ways to maximize on your Snapshot benefits. First, take it easy on the brakes. Make sure that you avoid slamming on your brakes. Second, avoid driving late on the weekends. Limit your driving between 12AM – 4AM. Lastly, try to drive less overall. Not only will you save on gas, but you will receive a huge discount with Progressive. This is perfect if you work close to home or if you are a low-mileage driver. Just by signing up you will save on average $25.
- You can save slightly over 30% on your premium by being a safe driver. If you have not had any tickets or been in any accidents for the past 36 months, then you will qualify for this discount.
- You can combine auto policies with anyone in your household to save up to 10% on your policy. With Progressive the person does not have to be a family member.
- Easily save on your premium by adding your newly licensed teen driver to your policy. The amount that you can save with this discount varies.
- Whether you were insured with another company, it doesn’t matter. To qualify for this discount, you have to have maintained active car insurance with no gaps in between. The longer that you have had car insurance for without any gaps will determine how much you will be able to save.
Allstate – Allstate is known for their huge package of auto insurance discounts.
- Everyday safe driving can earn you up to 25% cash back every six months with Allstate. By just getting started with this program you will be able to save 10%. Through the Allstate app you will be able to access your Drivewise app and check out your recent trips info, performance cash rewards balance, Allstate Rewards points balance, safe driving trends, and more.
- Unfortunately, even the best drivers may get into a car accident. If you ever get into an accident whether it’s your fault or not, you will not have to worry about Allstate jacking up your rates like some car insurance companies may do. Accident forgiveness is great if you are insuring your young drivers.
New ride discount
- If you recently bought a new car you can save over 10% on your policy with their new ride discount. Even if your vehicle is one year’s old, you will still be eligible for savings.
- Allstate customers are able to save up to 10% on their premium by signing up for ePolicy. ePolicy is a convenient way to view insurance documents online.
Smart student discount
- Are you a single full-time student, under 25, getting good grades? If so, you can save up to 35% with their Smart student discount.
- View coverages
- View ID cards
- Pay your bills by credit, debit, or checking account.
- Contact roadside assistance
- Get in touch with your insurance agent.
- Easily find a service center.
- Instantly contact your agent
- Digital ID Cards
- Easily manage your claims
- Good Hands Rescue
- Extras such as Allstate’s car buying service, parking reminder, and gas finder
- With Allstate, customers are able to use their smart phones to take photos of the damage and upload them to Allstate for faster claims service.
Product options – The more insurance products available to you, the greater chance that you will be able to save by bundling different insurance products. Progressive offers more products that you can insure.
Progressive’s product options available.
- Car Shopping
- Classic Car
- Electronic Device
- Golf Cart
- ID Theft
- Mechanical Repair
- Mexico Auto
- Mobile Home
- Wedding & Event
Allstate’s product options available
Allstate has 3 options for customers who desire roadside assistance.
Allstate Motor Club – This membership is available to everyone. This is their only roadside assistance service that gives you exclusive savings and services. First year membership costs anywhere from $52 – $99.
Good Hands Rescue – Good Hands is Allstate’s pay-per-use option. This option is available for customers and non-customers. No membership fees are required. Only pay when you use their service.
Towing & Labor Coverage – This option is only available to Allstate customers. With Towing & Labor you will get added protection for slightly more money on your premium.
Roadside coverage options
- Tire Changes
- Fuel Delivery (Customers have to pay for the gas.)
Progressive’s roadside assistance offers 7 services to their customers.
- Towing – Anywhere within a 15-mile radius.
- Winching service
- Battery Jump-Start
- Fuel Delivery
- Locksmith Service
- Flat Tire Change
- On Scene Labor – Up to one hour.
Which auto insurance company is better?
This is a close comparison. Progressive on average might be slightly cheaper. However, Allstate offers a truckload of discounts that you can save with. Allstate on average handles claims better while Progressive has a slightly better financial rating. Both companies are neck and neck. They both have their advantages and because of this I encourage you to compare quotes to see which auto insurer gives you better rates.