Progressive / ASI Homeowner's...Thoughts?

[insurancemansam]

I was informed that progressive no longer has profit sharing. In MN renters product already exists. ASI stingy about contracts. I have about $250K with progressive and don't even quote them on most preferred risks because of no home product. The discount for my preferred carriers is so large on homeowners that it doesn't make sense to quote progressive.

 

[huntron]

Anyone have any more information on how this merge has been going?

 

[FL P&C Broker]

I know they recently launched the progressive home advantage program to a select few agencies here in Florida.

 

[Derrick]

The Progressive and ASI partnership is kind of weird. Progressive tends to be for non-standard drivers. That can mean a variety of things but young age, insurance record, driving record, the list goes on. They are willing to take these risks at a better price than not. But in return, their preferred policies (IE people over 30, decent driving record, decent insurance scores, etc) are ALWAYS a bit higher than anything else.

ASI, on the other hand, tend to be more selective. They don't allow a replacement cost of anything less than $250,000 and very tough underwriting guidelines; no "dangerous" dogs, no trampoline, no pool, can't extend liability coverage to empty property, etc etc. Anything built past 1990, they rate out of the market, for me at least. It also runs, and bases your rate on your credit score.

Point is, the people who non-pay their auto insurance, have bad driving records, are 20 something years old, are not the people who have $250,000+ houses with good credit scores. The only time I've ever been able to combine Progressive / ASI is a 32 year old, married couple with 2 accidents, and like a 70 year old couple with a minor NAF.

If Progressive made their preferred more competitive, they'd be one of my top carriers for the home and auto combo.

 

[PhilL]

ASI is a very good company. I am insured with them in Florida. Glad to have them.

 

[insurancemansam]

In MN progressive seems to be becoming more of a preferred company for auto.

 

[FL P&C Broker]

In MN progressive seems to be becoming more of a preferred company for auto.

That's what they are pushing for as well in Florida.

 

[Derrick]

Do you guys believe Progressive will eventually shed most of its non-standard business?

Or do you think maybe they will spin off their preferred auto into something like "ASI Auto" that will specifically target combining preferred home and auto

 

[FL P&C Broker]

Do you guys believe Progressive will eventually shed most of its non-standard business? Or do you think maybe they will spin off their preferred auto into something like "ASI Auto" that will specifically target combining preferred home and auto

I don't think they will do either. I think they just want to make a significant push for the preferred market. They just came out with a product update here that was supposed to make preferred business more competitive. I ran a quote for just myself with one car and it was $300 more than what I am paying with safeco for me and fiancé with 2 cars.

 

[indienoise]

They are still worthless in sc for preferred auto. Consistently 50% higher than everybody else. Except safeco, they aren't far behind progressive here.