Progressive and Allstate are among the top car insurance companies in the country. Together, they serve a large part of the U.S. insurance market. Both companies offer a wider range of insurance products. The question is, which insurance provider will meet your needs and budget better?
To answer this question, let’s go through a set of criteria to compare the two auto insurance companies. This covers reliability, pricing, discounts, customer satisfaction, and available digital tools.
Table of Contents
Reliability
Reliability among car insurance companies does not only mean history and availability. It’s also about their ability to pay clients in case of a claim.
Progressive and Allstate have been in the business for a long time. Progressive started in Ohio in 1937, while Allstate began in Illinois in 1931. Insurance products from both companies are available in all 50 states.
Both companies have an A+ AM Best financial strength rating and Better Business Bureau rating. These ratings represent the insurers’ financial strength and ability to meet existing contract obligations and insurance policies.
Pricing
Price is a primary consideration when deciding which insurance policy to choose, especially when on a tight budget. Remember that the cost of auto insurance will depend on the state you live in, your age, and your driving history.
In 2021, MoneyGeek studied the average cost of auto insurance in 48 U.S. states. Results show that Allstate’s average price was lower than Progressive’s. Out of 48 states, Allstate had a lower rate in 30 states, while Progressive was cheaper in 18 states.
Teen drivers and drivers with a speeding ticket, accidents on record, and poor credit get lower rates using Allstate. Meanwhile, Progressive costs less than Allstate for young adults, adults, and senior drivers. It also offers lower rates for drivers with a driving under the influence (DUI) record.
Browsing through Progressive insurance reviews is one way to understand how the insurance company’s pricing works. Depending on your circumstances, you may get different quotes from these two insurers.
Discounts
You may already have determined the possible rates you may get from Progressive and Allstate, but the cost of insurance does not end with price. It may still change because both auto insurance providers offer different discounts to bring down your cost.
Investopedia listed a total of 14 discount offers in one of its Allstate insurance reviews. These include a new car discount, multiple policy discount, and anti-theft device discount.
While Progressive has fewer discount offers, it extends extra money-saving features. These include small accident forgiveness, large accident forgiveness, and deductible savings bank.
Customer Satisfaction
Insurance is built on the relationship and trust between a customer and the company. That’s why it’s also vital to compare Progressive and Allstate based on customer satisfaction.
J.D. Power’s 2021 customer satisfaction ratings showed that out of a possible 1,000 points, Progressive scored 832 points while Allstate got 829. Data from the National Association of Insurance Commissioners (NAIC) also revealed that Progressive had a lower complaint ratio than Allstate.
Digital Tools
Nowadays, almost everyone accesses the internet and uses mobile devices wherever they go. To capitalize on this, auto insurance companies have developed digital tools that they can use to access and manage their insurance policies.
Progressive has the Name Your Price Tool digital tool. It allows you to place how much you are willing to pay for a car insurance policy. The company will then give you coverage options based on your budget.
Meanwhile, Allstate received the best score in Forbes’ review of mobile app features from car insurance companies. The Allstate mobile app has essential features like paperless filing and online claims. It also has extra features for making emergency lists and plotting virtual escape routes during a fire.
Final Thoughts
You have your own car insurance needs, so it makes sense to shop around for the best deal you can get. Ask for a quote from both Progressive and Allstate, and even get from a few others for comparison.
Keep in mind that price is not everything. The important thing is to get an auto insurance policy that suits you best and understand its details.
