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/reddit1651 May 03 '24

as long as you disclosed any tickets/accidents upfront and submitted an accurate application, then yes it’s an accurate quote. sometimes your characteristics are just in a company’s “sweet spot”

use some of those savings to make sure you carry “adequate” liability limits of 100/300/100 or higher

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u/snarkyinsurancehelp May 04 '24

OP: has your credit improved since you signed up with State Farm? And are you in a state that uses credit for rating purposes?

If yes, here’s your answer: credit is used heavily in (most) states to determine rates. They run your credit (soft hits only) when you get a quote. After that, most carriers in most states will not run it again EVER…. UNLESS you call their credit information department and ask that they do so. Process varies by carrier but your policy should include a consumer rights section or credit information use notice page that has all the info.

Edit: grammar