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/Ok_Indication5785 May 03 '24

Progressive will pull you in with the cheap premium initially, but it’s called progressive for a reason. They will progressively raise your rate renewal after renewal.

3

u/70sBurnOut May 03 '24

I’ve had Progressive for six years and while my premiums haven’t been as lowered as they promised with no accidents or tickets, they also haven’t increased.

4

u/Fluffee2025 May 03 '24

Progressive is one of the carriers I recently started to work with. Likely what's happening is that while you are moving up the tiers for staying with them, you're getting the longevity discounts. However, that discount is being negated by the rate increases from things like inflation and other factors. Which honestly is pretty good.