What's Up with Progressive?

[Crabcake Johnny]

They just tried to pull the same BS with me - wanted to jack me about 22%. I said...literally "bite me." The same day I got their notice that my rates were going up I just called another carrier, switched, then called Progressive and said "cancel my policy."

The lady was stunned - wanted to know why. I told her that I guessed Progressive lives in some fictional world without competition. I told her that within 30 minutes of being notified of my rate increase I had already been bound be another carrier. Good riddance Progressive.

Coakley opposes Progressive request to up rate

 

[djs]

But why should the government oppose it? You just showed that the free market system works. Why not let it work?

Besides, the lady wasn't 'stunned'. She already knew why. She just wanted to act stunned.

Dan

 

[Insurance-Guy]

They just tried to pull the same BS with me - wanted to jack me about 22%. I said...literally "bite me." The same day I got their notice that my rates were going up I just called another carrier, switched, then called Progressive and said "cancel my policy."

The lady was stunned - wanted to know why. I told her that I guessed Progressive lives in some fictional world without competition. I told her that within 30 minutes of being notified of my rate increase I had already been bound be another carrier. Good riddance Progressive.

Coakley opposes Progressive request to up rate

This is what people just don't understand about insurance...companies like progressive...geico spend boat loads of money advertising how cheap their rates are...so you get someone who has been insured for 20 years with Nationwide they call and see that they can save 30% on their insurance then at renewal you get hit with a double digit increase...if they would have had a claim their rate would have at least doubled. But guess what the apples to apples comparison that they said they got failed to mention that their old policy had accident forgiveness. I see this happen quite often...and it is sad. You get what you pay for and there are many...many times that people would be better to stay with their current carrier...I have had two people this week that I could have saved a little money for that I reccomeded to keep what they currently had...just got a referral from one of them and wrote a nice case of business.

As far as Progressive they will appoint a rock to sell insurance for them...I have them for RVs, boats, motorcycles, a few commercial trucks but I don't put much preferred business with them and I have several reasons for that. For the most part they are a good company to have...their software is 2nd to none. Ease of doing business is a huge advantage that they have going for them...I know that I could teach my 3 year old son to issue a policy with them...and he would know more about the coverages then the bulk of people. I guess it boils down to the fact that I have a choice where I want to put business...so for now at least it goes somewhere else. Progressive is just above MAIF in my book...at least for now...for those of you who don't know MAIF is a state insurance fund.

Sorry for the rant...and glad you found a better rate! At least you were in a position that you could.

 

[1manshow]

Surprisingly,they've been showing up with some pretty good rates lately on preferred drivers here in Pa. Guess their appetite must be changing again...they tried "preferred" here a few years back and it didn't fly.

Hard to trust a company that competes directly with their agents

 

[Insurance-Guy]

Hard to trust a company that competes directly with their agents

That is my biggest problem with them!

 

[somarco]

According to this map, Progressive only has 6% of the market in your state.

Nationally, Progressive has 7.2% of the market, trailing behind GEICO (7.7%), Allstate (11%) and State Farm (17.8%).

According to the left and idiots in DC, there isn't enough competition and carriers should sell across state lines which will lead to even lower prices for consumers.

 

[CaptiveGuy]

I spoke with the marketing rep from Progressive yesterday to get appointed. It took me an entire 30 minutes for her to say I was good to go just fill out the paperwork. Goes to show they really don't care who they appoint as long as you have e&o and a license.

She actually told me to send them preferred business as they have a new ultra preferred and preferred tier for drivers in MD. In full disclosure they were up front about the varying rates between direct and going to an agent. I don't see Progressive being in the ballpark with Geico, Erie, etc. on preferred business in the DC area but we will see.

For now I will send them my garbage and hope to hit the quota by June to qualify for the commission bump to 15% new 12% renewal...

 

[djs]

According to this map, Progressive only has 6% of the market in your state.

Nationally, Progressive has 7.2% of the market, trailing behind GEICO (7.7%), Allstate (11%) and State Farm (17.8%).

According to the left and idiots in DC, there isn't enough competition and carriers should sell across state lines which will lead to even lower prices for consumers.

Interesting chart, I'm surprised they post that. Also, I think nationally they have lost market share, or at least market ranking, since 2007, which is when the chart was done. Reason I suspect this is simply that Farmers bought their way up in rankings (from 5) to I think number 2, with their acquisition of Bristol West and 21st Century. Of course, I think all carriers have been struggling to keep people insured lately. Lets see, unemployment, no paycheck, choice between food and insurance? Guess what wins.....

Dan

 

[1manshow]

How does a Captiveguy get the green light to contract w/Progressive? Or is it xcaptiveguy

And...I don't think it's just progressive that's giving out contracts to everyone...who's not licensed with Travelers, Safeco, Farmers...? makes it a lot more enviable to have an Erie contract

 

[CaptiveGuy]

1manshow,

I'm a free man! I left my captive carrier in February, Erie gave me the green light to get appointed with Progressive and Foremost.

(Not sure if I can/should change my name on here...)

And you are right every independent around here has Encompass, Travelers, and Safeco. Having Erie in my agency will definately help.