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Compare State Farm vs. Progressive Auto Insurance

July 11, 2014

While you’re encouraged to cast a wide net when making car insurance comparisons, it often culminates in showdown between two companies. In State Farm and Progressive, you have two of the most venerable car insurance providers; they’ve been insuring America’s drivers longer for more than 160 years combined. State Farm and Progressive have obviously been doing something right all these years – many things, actually – so how do you pick just one?

Why Compare State Farm vs. Progressive?

At the end of the day, a car insurance rate is a car insurance rate. And selecting your provider could be as easy as picking the best rate. But it’s not that easy. When you break down the potential insurance providers, you can expose different strengths and weaknesses that resonate uniquely with each consumer. For example, State Farm has helped grown its loyal customer base through a commitment to tradition and highly visible agents. Progressive, especially in the past few decades, has been innovating its way to greater market share. From customer service to available discounts, and yes, the actual rates you’re served up, there are a number of factors to take into consideration before selecting State Farm or Progressive.

About State Farm

State Farm stands out from the crowd of car insurance providers for a few reasons. Founded in 1922 by G.J. Mecherle, it’s the largest auto insurance company in the world, checking in at No. 43 on the Fortune 500 list with 80 million-plus policies and more than 65,000 employees. Second, State Farm is privately held, which comes with its own set of pros and cons but few that directly impact policy holders.

Advantages of State Farm

Size and experience give State Farm the ability to provide truly top-flight customer service. Additionally, as the company also covers everything from home and property insurance to health and disability policies, State Farm allows you to streamline your policies through one provider – and save up to 17% through bundling. The company also offers financial planning resources and identity protection tools.

Customers of State Farm report a high amount of satisfaction: 93% plan to renew their policies and 85% said they would recommend the insurer to friends and family.

State Farm’s Top Discounts

Premiums and discounts need to be equally considered when comparing rates among various car insurance providers. State Farm provides both attractive rates and a wealth of discounts to its customers, including the following:

  • Drive Safe & Save Discount (for using a telematics device) – Up to 50% discount
  • Steer Clear Safe Driver Discount (a program for drivers under age 25) – Up to 15% discount
  • Multiple Automobiles – Up to 20% discount
  • Good Driving Discount (three years without moving violations or accidents) – Up to 10% discount

About Progressive Auto Insurance

Progressive has built a reputation as an industry trailblazer with features ranging from an intuitive website to creative discounts and pricing. Additionally, Progressive sponsored the Automotive X Prize, a competition to build the first car to achieve 10 mpg.

Founded in 1937 and now operating as a public company, Progressive pioneered the practice of providing online car insurance quote comparisons.

Advantages of Progressive

Named the No. 1 car insurance website by Keynote Competitive Research, Progressive’s shopping portal even provides a discount for new customers who sign their documents online.

With more than 13 million policies and a team of agents that’s 30,000-strong, Progressive is always looking for ways to innovate traditional auto insurance practices and services. One upshot is the company’s multiple patents related to usage-based pricing efforts, which today are packaged as the Snapshot program. Drivers determine if they’re eligible for safe driving discounts by participating in a 30-day trial in which they plug in a small device that tracks driving data. If drivers are found to be eligible after this introductory period, they may save up to 30% on annual premiums.

Another benefit of Progressive is its Auto Insurance Loyalty Rewards program, which provides customers with benefits such as streamlined service and accident forgiveness.

Progressive’s Top Discounts

In addition to the Snapshot program detailed above, Progressive offers a number of other discounts and programs to drivers. That said, it does not provide a maximum percentage saved for all of these programs.

  • Add a Property Discount – save up to 10%
  • Multiple Policies Discount
  • Good Student Discount
  • Online Discount – You get an immediate car insurance discount simply by buying your policy and signing the documents online.
  • Name Your Price – Not a traditional discount, but a pricing program by which Progressive matches its best policy to your budget

State Farm vs. Progressive: Which One Works for You?

When stacking up State Farm against Progressive, one thing is clear: you can’t make a bad decision. Both of these highly credible auto insurance providers have established themselves as industry leaders who serve up competitive rates and solid customer service. That said, all consumers have their own preferences, and something you’ve read here or researched elsewhere could certainly swing your decision toward Progressive or State Farm. If you need even more information, you can also check out our State Farm and Progressive company pages. All things being equal, you always have the rate to guide your decision of who you will choose as your car insurance provider.

Ready to Compare Car Insurance?

Now you’re in the know. And with knowledge comes power, so there is no better time to flex your new smarts and compare auto insurance quotes. You did your homework – choosing is the easy part.

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