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UPDATED: Jul 16, 2021
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Total Assets: $24.408 billion2013 Net premiums earned: $17.1 billion
- Drive Insurance Holdings, Inc
- Garden Sun Insurance Services, Inc
- Progressive Direct Holdings, Inc.
- Progny Agency, Inc.
- Progressive Adjusting Company, Inc.
- And many others
Company History: Progressive was founded in 1937 as Progressive Mutual Insurance Company. Progressive is known as one of the more innovative insurance companies. They were the first to offer drive in claims service and to allow customers to pay their premiums in installments. In 1956, they launched Progressive Casualty Insurance Company which was focused on writing auto insurance for high-drivers. Progressive operates through a publicly traded holding company, Progressive Corporation, which was formed in 1965. The company was built (after 1965) from a small 100 employee insurance firm into the current large organization by Peter B. Lewis, who died November 23,2013.Progressive is now the #1 largest seller of motorcycle policies. Progressive’s insurance subsidiaries and affiliates provide personal and commercial automobile insurance as well as other specialty property-casualty insurance and related services throughout the United States. The Company employs 25,000 workers.
Principle Sales Methods: Independent Agents and brokers, or by phone or online
Life Annuity Business: Progressive works with Efinancial, a system which helps you chose life insurance online.
Auto Business: Progressive offers a variety of Auto coverage policies. Basic Coverage include Bodily Injury and Property Damage Liability and uninsured driver insurance (only active in some states). Personalized coverage can be added to basic coverage. Personalized coverage includes: collision (including pet injury), loan/lease payoff, medical payments, custom parts and equipment/accessory, rental reimbursement, and roadside assistance. Progressive also offers a variety of auto insurance discounts. The company also has expanded its offerings to include boats, RVs, snowmobiles, ATVs, golf carts, classic cars, mobile homes, travel trailers, and Segways.
Homeowners Business: Progressive offers three types of homeowners insurance policies. Homeowners 1 protects your property from fire and lightning, loss of property on premises due to fire or other perils, vehicles, windstorm or hail, smoke, explosions, theft, vandalism and malicious mischief, riot or civil commotion, aircraft, and breakage of glass constituting part of the building. Homeowners 2 protects your property against the 11 perils listed in Homeowners 1 as well as others (i.e., freezing of plumbing,domestic appliances, heating and air conditioning systems; falling objects; accidental discharge; leakage or overflow of water/steam from within heating or air conditioning system, plumbing, or domestic appliance). Homeowners 3 protects your property against all perils except for flood, war, earthquake, and nuclear accident.
Health Business: Progressive has teamed up with eHealthInsuranceÂ®, a system that offers more than 10,000 health care plans online as well as allows prospects to research and compare over 175 health insurance companies nationwide.