Progressive offers 13 different types of car insurance discounts to help their policyholders save money. With their range of discounts, Progressive drivers save an average of over $650 per year, or between 5% and 10%.
Progressive is a popular car insurance provider—but not just because they have catchy commercials. In fact, 14% of all car insurance premiums are from Progressive. In dollars, that’s approximately $44.5 billion (with a B!).
But when it comes to the cost of your own car insurance
policy, there are plenty of different ways to save. So, if you’re thinking of jumping on the Progressive bandwagon, be sure to ask about the following insurance discounts. Let’s go over them below. What car insurance discounts does Progressive offer?
Progressive insurance discounts are divided into four main buckets: loyalty-based discounts, driver-based discounts, payment-based discounts, and miscellaneous savings tools. And you don’t have to pick just one: many of Progressive’s discounts can be stacked for maximum savings.
Loyalty-based discounts
These discounts, as the name implies, are for drivers who have purchased multiple policies through Progressive. For example, if you have more than one vehicle or if you opt to purchase your home insurance
through Progressive as well, you can score a discount. Multi-policy: If you purchase more than one policy through Progressive, such as home and auto or auto and boat, you can save an average of 5% on your policy.
Multi-car: If you have more than one vehicle on your policy, you can save an average of 4% on your premium.
Continuous insurance: The amount of this discount varies based on how long you’ve held a Progressive insurance policy. There are six tiers to this policy: Silver (six months), Gold (one to three years), Platinum (three to five years) Diamond (five years or more), Emerald (10+ years), and Crown (20+ years).
Driver-based discounts
Just as it sounds, driver-based discounts are based on you, the driver. These discounts take different demographics into consideration, like age and whether or not someone is a homeowner.
Snapshot: Snapshot is Progressive’s telematics program that monitors your driving habits in real-time and rewards safe driving
with a discount. With Snapshot, drivers save an average of $146 when they renew their policy. Teen driver: If you add a driver who is 18 or younger to your policy, you can earn a discount to help offset the increase in your premium.
Good student: With Progressive, it pays to get good grades! Students who are 23 or younger can save an average of 10% if they maintain a B average or higher.
Distant student: Perfect for students who go away to college and opt to leave their car at Mom and Dad’s. If a full-time student lives more than 100 miles from home and leaves their car at home, they may be eligible for this discount.
Homeowner discount: For simply owning a home, you can save up to 10% on your Progressive car insurance policy. Plus, the home in question does not have to be insured with a Progressive home policy.
Payment-based discounts
The next group of discounts is linked to how you pay your insurance bill. Let’s take a look at precisely what that means—and how you can score these discounts:
Online quote: Just for getting a quote online, you can save an average of 7%. This discount applies even if a Progressive representative finalizes your policy over the phone.
Sign online: This is an easy one. Progressive policyholders can save an average of 9% by signing policy documents online.
Paperless: Another easy one, but only offered in conjunction with the sign online discount. You can earn this discount if you opt into receiving your Progressive documents via email.
Pay in full: Paying for your policy upfront will earn you a discount, but the exact rate will vary.
Automatic payment: If paying in full isn’t a financial option for you, this discount will come in handy. You can save by setting up automatic payments to a checking account, credit, or debit card. Keep in mind that this discount cannot be combined with the pay-in-full discount.
MORE: What is a paid-in-full discount?
Savings tools
Lastly, we’ve got the savings tools. While they technically aren’t discounts, they can help you save even more money on your Progressive policy. And if you’ve seen even one Progressive commercial in recent years, the Name Your Price Tool should ring a familiar bell.
AutoQuote Explorer: With AutoQuote Explorer, you can compare your Progressive quote against quotes from other insurance providers in real time.
Name Your Price Tool: This tool is one of Progressive’s most notable products. With the Name Your Price Tool, you can tell Progressive how much you’d like to pay, and they will which of their policies fit your budget.
Deductible savings bank: For every term of your policy (six months) that you do get into an accident or file a ticket, Progressive will subtract $50 from your collision or comprehensive deductible. Be aware that opting into the program will make your policy slightly more expensive.
MORE: What is a safe driver discount?
Does Progressive have good car insurance discounts?
With Progressive, the appeal of their available car insurance discounts really boils down to one thing: your eligibility. If you qualify for their discounts, you can find yourself saving a pretty penny. On the flip side, popular insurance discounts that are commonly offered by other providers, like defensive driving and safe driving, are noticeably absent from their list.
Even though the discount selection may not be as vast as some other providers, there’s a reason Progressive has such a tight grip on the car insurance market: their savings tools. The Name Your Price Tool is an easy way to keep your monthly payment at an affordable level and help you keep a little more cash in your pocket. While Progressive may not offer a safe driving discount, with Snapshot, you can still be rewarded for practicing safe driving habits.
The bottom line? The discounts from Progressive may be slim pickings for some, but the savings tools they offer can help compensate for it.
"It never occurred to me to look for more insurance quotes, but I’m so happy I saw Jerry
. After using the app, I am saving $2,000+ a year through my new Progressive plan. It blew my mind!” —Jarod M.
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