Cincinatti Financial vs. Progressive: Which Company is the Best Fit for You?

You've probably seen ads offering big savings on auto insurance, but are Cincinatti Financial or Progressive right for you? Which carrier offers the lowest premiums, or the most discounts? Read on to see how Cincinatti Financial and Progressive compare, and to find out which company is the best one for you, your vehicle, and your budget.
Newly insured car driving down the road
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Quick Facts

  • Looking at the national averages for insurance, Progressive offers more affordable prices than Cincinatti Financial
  • Cincinatti Financial offers more affordable rates for drivers who have a speeding ticket on their driving record
  • Progressive has cheaper premiums for policyholders who live in urban areas


Cincinatti Financial or Progressive: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? After all, you've seen ads from all sorts of companies offering large savings. But exactly how much can you save by switching?

You might have narrowed it down to Cincinatti Financial or Progressive as your top options, but between the two, which carrier has less expensive rates for auto insurance?

Cincinatti Financial Progressive
$200$180

Looking at the national average rates for both carriers, Cincinatti Financial is around $20 more a month than Progressive.

That being said, that doesn't necessarily mean Progressive will be the cheaper option for each driver. Car insurance companies vary their prices depending on things like how clean your driving record is, where you live, how old you are, how good your credit score is, and tons of other factors, so rates will vary quite a bit from person to person.

So, if you want to find out which of Cincinatti Financial or Progressive is really the best for you, keep reading to see average prices for each carrier broken down by a variety of different rate factors.

Cincinatti Financial vs. Progressive: Average Car Insurance Rates by State

State Cincinatti Financial Progressive
AL$137$187
KY$218$247
OH$147$120
TN$194$139
VA$301$139

Cincinatti Financial and Progressive compete against each other in five states, with Cincinatti Financial offering less expensive premiums to the average driver in all of them. Virginia has the most noticable difference, where Progressive rates are $162 more affordable than insurance prices at Cincinatti Financial.

There's a lot more that goes into your car insurance bill than just where you call home. Keep reading to learn more.


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Which is the Best Company For Young Drivers?

Cincinatti Financial Progressive
18-year-old drivers$496$451
25-year-old drivers$193$142

You might already know that teen drivers normally pay a lot more for auto insurance than any other group of drivers out there on the road. That's because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But that doesn't mean teen drivers can't still save money on their insurance. Just look at the table above -- where 18-year-old drivers who have Progressive for their auto insurance pay 10% less than those who use Cincinatti Financial.

Even so, both carriers will drop premiums by the time you turn 25. For example, average prices for Cincinatti Financial policyholders lower over 60% and Progressive's rates decrease almost 70% over that time.

Which is the Best Company for Retired Drivers?

Cincinatti Financial Progressive
65+-year-old drivers$122$131

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the most affordable premiums you can find.

When looking at Cincinatti Financial and Progressive specifically, which company is best for retired drivers? Cincinatti Financial gets the slight edge, with rates for drivers 65 and older about 7% cheaper than the national average for Progressive.

Which is the Best Company for Married Drivers?

Cincinatti Financial Progressive
Single$242$221
Married$143$126

Did you know that car insurance premiums are typically more expensive for those who are single than they are for married drivers? That's generally because married policyholders tend to own and insure several vehicles, which can often earn you a discount.

For single drivers, the difference in average prices between these two companies is not very significant, with Progressive premiums coming in at around 10% less than Cincinatti Financial's. The advantage for married couples is more obvious, where drivers who use Progressive save more than 10% per month.

Cincinatti Financial or Progressive: Average Rates by Gender

Cincinatti Financial Progressive
Male$206$183
Female$193$178

You may not know, but auto insurance is usually more expensive for men than for women. This is because men are statistically more likely than women to get into collisions and get tickets, which leads to increased risk for insurers and, therefore, higher rates.

Men typically pay about 6% more a month than women with Cincinatti Financial, but with Progressive, the difference is closer to 3% per month.

Looking at overall affordability, Progressive offers the cheapest average prices for both men and women. On average, women save about $15 a month and men save around $23 with Progressive compared to the average Cincinatti Financial policyholder.


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Cincinatti Financial vs. Progressive: Compare State Minimum vs. Full Coverage Rates

Cincinatti Financial Progressive
State Minimum*$106$111
Full Coverage**$293$250

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

For most people, insurance can be pretty complicated. There are a range of different coverages that account for multiple different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

The two most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with liability).

When it comes to state minimum liability limits, Cincinatti Financial has the edge, while Progressive offers the lowest average rates for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $5 with Cincinatti Financial, while full coverage comes out to be about $45 less expensive with Progressive.

Is Cincinatti Financial or Progressive Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that speeding tickets and collisions lead to higher prices, but which carrier -- Cincinatti Financial or Progressive -- has the most affordable premiums for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Cincinatti Financial Progressive
Clean Record$122$149
1 Speeding Ticket$143$180

Drivers who use Cincinatti Financial for their insurance can usually expect their monthly bill to go up around 15% after getting a speeding ticket. Progressive policyholders can expect a bit more drastic of an increase of about 17%.

However, Cincinatti Financial tends to offer the best prices for drivers both with a ticket and with a clean record. With Cincinatti Financial, drivers with a clean record can save around $27 per month and drivers with a speeding ticket can save about $37 a month.

Which Company is Best for Drivers After an Accident?

Cincinatti Financial Progressive
Clean Record$122$149
1 At-Fault Accident$214$214

Cincinatti Financial policyholders who get in a collision can expect to see their prices rise by just under 45%, while those who have insurance through Progressive will see around a 30% increase.

At the end of the day, the more affordable rates come from Cincinatti Financial, with average premiums coming in at $214 compared to Progressive's $214.

Which Company is Best for Drivers with a DUI?

Cincinatti Financial Progressive
Clean Record$122$149
1 DUI$320$177

If you get a DUI charge, you can expect some pretty significant increases in your monthly auto insurance bill -- normally a lot more than an accident or ticket. On average, Cincinatti Financial will raise your prices about 62% after a DUI, while Progressive's average rates increase by more than 15%.


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How does Credit Score Impact Cincinatti Financial and Progressive Rates?

Did you know many car insurance companies take your credit score into account when determining prices? This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as a car insurance factor) but it might come into play for several drivers.

Auto insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with less expensive premiums.

So, which company offers the cheapest rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Cincinatti Financial Progressive
Excellent Credit Score$147$136
Good Credit Score$172$157

Which Company is Best for Drivers with Bad Credit?

Cincinatti Financial Progressive
Fair Credit Score$198$181
Poor Credit Score$281$247

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Is Cincinatti Financial or Progressive Better for Drivers who Work from Home or Have Short Commutes?

Cincinatti Financial Progressive
6,000 Annual Miles$200$180
12,000 Annual Miles$200$180

Did you know that the amount of time you spend in your car have a considerable impact on your monthly premiums? Generally, those who drive fewer miles will end up with cheaper rates since there's less of a chance of causing a collision and filing an insurance claim.

In this case, neither Cincinatti Financial or Progressive report increasing prices for drivers with higher annual mileage figures. That being said, Progressive comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle every year, with average premiums of $180 per month for both.

Cincinatti Financial or Progressive: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for car insurance, but the type of area you live in can have a substantial impact as well. Usually, those who live in rural areas will pay less than policyholders in urban areas due to the small number of cars that are on the roads where they live.

Cincinatti Financial Progressive
Urban Areas$220$207
Suburban Areas$197$179
Rural Areas$182$154

Progressive tends to offer the lowest prices for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Progressive's average rates are around $13 less than Cincinatti Financial. People who live in suburban areas pay about $18 less with Progressive compared to Cincinatti Financial. Those in rural areas can expect to save around $28 with Progressive compared to Cincinatti Financial.

Cincinatti Financial vs. Progressive Discounts

You want to save as much money as you can, right? The best way to do that is by utilizing as many insurance discounts as possible.

But with what seems like a million different discounts out there, it can be difficult to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you're eligible for.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Cincinatti Financial and Progressive so that you can see which one can save you the most money each month.

Cincinatti Financial Progressive
ABS Discount 
Advance Quote Discount
Advanced Safety Feature Discount 
Agency Transfer Discount 
Anti-Theft Discount
Continuous Insurance Discount 
Covid-19 Relief Discount
Defensive Driver Discount
Distant Student Discount 
DRL Discount 
E-Signature Discount 
Education Discount 
EFT Discount 
Good Driving Discount 
Good Student Discount
Group Discount
Homeowner Discount
Loyal Customer Discount 
Mature Driver Discount 
Military Discount 

Progressive blows Cincinatti Financial away when it comes to the sheer amount of discounts available, offering 24 more discounts than Cincinatti Financial.

Both companies offer several of the same discounts -- like advance quote discounts, COVID-19 relief discount, discounts for being a good student, and multi-policy discounts -- but Progressive also offers discounts for ABS, advanced safety feature, agency transfer, and more.

On the other hand, Cincinatti Financial has a proprietary discount of their own -- a special large ded discounts.


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Final Thoughts: Is Cincinatti Financial or Progressive Best for You?

So, we've broken down the average premiums for many of the variables auto insurance carriers look at, and we've shown you all the discounts each company offers. But, when it comes down to it, which insurance carrier is the right company for you and your specific needs?

Progressive might be best for you if....

  • Your driving record includes a DUI charge.
  • You're looking for the company with the most discounts.
  • You want to save money while purchasing insurance for a teenager.


Cincinatti Financial might be best for you if...

  • You've been pulled over for speeding recently.
  • You're looking for the best rates on liability only coverage.
  • You're of retirement age and want to take advantage of lower prices.

Hopefully, this guide helps you get a good idea of the differences between Cincinatti Financial and Progressive. We also hope we've given you the information you need to make the best decision about your car insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several companies, not just Cincinatti Financial and Progressive. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best car insurance carriers in your area, all for free.


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Cincinatti Financial vs. Progressive FAQs

Is Cincinatti Financial or Progressive cheaper?

Progressive is the more affordable of the two companies when looking at national average rates, with policies averaging $180 a month with Progressive and $200 for Cincinatti Financial. That being said, that doesn't mean Progressive will be the cheapest carrier for each driver, since there are many different factors that are considered when it comes to your insurance payment.

Who is better, Cincinatti Financial or Progressive?

Sadly, the real answer is "it depends.". Neither company is necessarily "better" for everyone -- it all depends on what your unique car insurance profile looks like. For example, Cincinatti Financial is cheaper for drivers who have already retired, while Progressive offers more affordable prices for single policyholders.

Why do Cincinatti Financial and Progressive offer me different rates?

Insurance carriers use lots of different variables when calculating the premiums they charge. Factors like where you call home, gender, age, where your home is, and sometimes even things like your credit score can all be taken into consideration. Both Cincinatti Financial and Progressive calculate rates using different variables, so it's likely they'll offer different prices. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from a bunch of different companies.

How do I know if Cincinatti Financial or Progressive is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from multiple carriers and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance companies for free. With those, you can guarantee you're getting the best price. And maybe you'll find that the best carrier for you isn't Cincinatti Financial or Progressive at all, but another you hadn't even thought of!


Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.

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