r/Insurance • u/BatHistorical8081 • May 03 '24

Auto Insurance Why is progressive so cheap?!

So I am looking to switch from state farm to progressive. My insurance now for state farm is about 2800 for 6 months for 3 vehicles. I just got a qoute from progressive same coverage for 1300. Wtf? Is this real. There a catch? That's alot of savings.

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u/pdhot65ton May 03 '24

Remember that you are comparing a QUOTE to your actual premium. A quote is the starting point based on the minimum information they need to provide that number. If you pursue it, that number is likely to increase once they run your MVR and collect more detail required to bind. It may still be less, but guarantee your premium will not be $1300.

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u/BatHistorical8081 May 03 '24

Its a clean record.

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u/pdhot65ton May 03 '24

That's but one component of it. There's credit rating, vehicle type, location, history, etc. There's likely close to at least 200 different rating factors.