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

Quick Facts

• In general, Progressive offers significantly cheaper premiums than Electric
• Progressive offers more affordable average prices for policyholders who drive fewer than 6,000 miles annually
• Progressive offers more affordable rates for policyholders who have a clean driving record, free of collisions, tickets, or DUIs

Electric or Progressive: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering huge savings, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Electric or Progressive, but between the two, which one will save you the most?

As you can see, Progressive is quite a bit cheaper than Electric, with prices averaging $180 a month compared to $266 with Electric when looking at the national average rates for auto insurance.

That being said, that doesn't mean Progressive will necessarily be less expensive than Electric for every single driver. After all, insurance carriers can offer drastically different rates to every driver depending on rating factors like your driving record, where you call home, your age, or even your credit score (among other things). So, at the end of the day, premiums from each carrier will differ quite a bit from person to person.

Wanting to know if Electric or Progressive is really the right company for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Electric vs. Progressive: Average Car Insurance Rates by State

Electric and Progressive compete against each other in five states, with Progressive offering cheaper prices to the average driver in all of them. Virginia has the most noticable difference, where Progressive premiums are $234 more affordable than car insurance rates at Electric.

There's a lot more that goes into your auto insurance bill than just your home state. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for car insurance compared to older drivers. That's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high premiums, teen drivers can still find ways to save money. As you can see above, teens who use Progressive save almost 25% per month compared to those who use Electric.

Even so, both companies will offer you dramatically lower prices once you turn 25. For example, average rates for Electric policyholders decrease around $300 and Progressive's prices drop over $300 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the most affordable auto insurance premiums out there. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for insurance.

So, which carrier offers the best rates to retired drivers? Progressive gets the edge here, with average premiums coming in at about $131 per month compared to Electric's $178.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance prices tend to be more expensive for single drivers than they are for married drivers. This usually boils down to married couples having several vehicles on their policy -- something a lot of auto insurance carriers will reward with discounts.

For single policyholders, the difference in average premiums between these two companies is significant, with Progressive rates coming in at around 30% less than Electric's. The advantage for married policyholders with Progressive is also obvious, where drivers save nearly 40% a month.

Electric or Progressive: Average Rates by Gender

You may not know, but insurance is normally more expensive for men than for women. That's because women are less likely to get speeding tickets and get into accidents, which lowers the chances of filing a claim with insurance.

On average, men see prices about 7% per month higher with Electric, but with Progressive, the difference is closer to 3% a month.

When it comes to the lowest rates for each gender, Progressive comes out as the most affordable option for both genders, with average premiums 34% less for men and 31% cheaper for women.

Electric vs. Progressive: Compare State Minimum vs. Full Coverage Rates

*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.

It's no secret that car insurance can be a complicated subject for most people. Everyone needs insurance, but there are so many different limits and coverages that it can be hard to find the right policy for you.

The two most common policies end up falling into two different types of coverage -- liability coverage (that covers bodily injury and property damage for other drivers if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with liability).

Looking specifically at state minimum liability limits, Progressive has the significant edge, with average monthly rates coming in at $111. If you want a full coverage policy with the same state minimum limits, Progressive again has the edge, with policies averaging around $250 per month to Electric's $383.

Is Electric or Progressive Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto insurance. But that's not to say you can't save money if you don't have the best driving record, either.

Accidents and speeding tickets will most likely raise your prices, but is Electric or Progressive less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Electric for their car insurance can generally expect their monthly bill to go up about 12% after getting a speeding ticket. Progressive policyholders can expect a bit more drastic of an increase of around 17%.

But Progressive has cheaper premiums for drivers in both categories -- their rates are around 28% less expensive for drivers with clean records and 24% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Electric drivers who get in an accident can expect to see their prices increase by just under $30, while those who have insurance through Progressive will see about a $65 increase.

At the end of the day, the cheaper rates come from Progressive, with average premiums coming in at $214 compared to Electric Insurance Company's $236.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- usually a lot more than a collision or ticket. On average, Electric will increase your rates around 46% after a DUI, while Progressive's average premiums rise by more than 15%.

How does Credit Score Impact Electric and Progressive Rates?

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

Car insurance companies argue that those with good credit scores are more likely to pay their bills on time every month, which lowers the risk involved on their end, while the opposite is true for those with bad credit.

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

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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

How much you drive can have a sizable impact on your monthly premiums. Typically, the more milage you drive, the more you can expect to pay for auto insurance.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Progressive charges. However, there's a pretty significant difference in monthly prices for Electric, with policyholders who drive the least paying about $33 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Progressive is the less expensive carrier.

Electric 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 insurance, but the type of area you live in can have a big impact as well. Generally, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

Progressive tends to offer the cheapest rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

For policyholders in urban ZIP codes, Progressive's average prices are around $97 less than Electric Insurance Company. People who live in suburban areas pay about $55 less with Progressive compared to Electric. Those in rural areas can expect to save around $108 with Progressive compared to Electric.

Electric 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 hard to find all the ones you're eligible for or to nail down the company that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and looked at all of the different discounts Electric and Progressive offer their customers so that you can see which company can save you the most money each month.

Progressive blows Electric away when it comes to the sheer amount of discounts available, offering 17 more discounts than Electric.

A couple of those are overlapping for things like advance quote discounts, COVID-19 relief discount, discounts for being a defensive driver, and group discounts. Progressive also offers discounts for advanced safety feature, agency transfer, continuous insurance, and more.

On the other hand, Electric has a few proprietary discounts of their own for things like driver training discounts, electric vehicle discounts, hybrid vehicle discounts, and more.

Final Thoughts: Is Electric or Progressive Best for You?

You've seen the role certain variables have on your auto insurance and the different discounts carriers offer. But, when it comes down to it, which insurance carrier is the right carrier for you, your vehicle, and your wallet?

Progressive might be best for you if....

• You want to save money on your insurance after an accident.
• You're worried about the impact your credit score will have on your premiums.
• You want to save money while purchasing car insurance for a teenager.

Electric might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide has ben a valuable resource as you compare Electric and Progressive and that it aids in making a more informed decision about your auto insurance.

At the end of the day, the best way to make sure you're getting the best deal on your insurance policy is to compare quotes from a handful of companies, not just Electric and Progressive. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of the top auto insurance carriers in your area, all in just a few minutes.

Electric vs. Progressive FAQs

Is Electric 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 $266 for Electric. However, that doesn't mean Progressive will be the lowest company for everyone, since there are a variety of different factors that come into play when it comes to your car insurance cost.

Who is better, Electric or Progressive?

Unfortunately, the real answer is "it depends.". No one carrier is necessarily "better" for every policyholder -- it all depends on the makeup of your unique insurance profile.

Why do Electric and Progressive offer me different rates?

Car insurance carriers use quite a few different variables when calculating the prices they charge. Factors like where you live, gender, where you park your vehicle, age, and sometimes even things like your credit score can all come into play. Both Electric and Progressive calculate premiums using different variables, so it's likely they'll offer different rates. The best way to determine which company is the cheapest for you is by comparing personalized quotes from a range of different companies.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from several 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 information once 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 lowest rate. And maybe you'll find that the best company for you isn't Electric 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.