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

Quick Facts

• Based on national averages for car insurance, Progressive offers significantly more affordable prices than Key
• Progressive has less expensive rates for drivers who have a speeding ticket on their driving record
• Progressive offers cheaper average prices for drivers with a DUI

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

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering hefty savings. But exactly how much can you save by switching?

You might be considering Key or Progressive as potential options, but between the two, which carrier will offer you less expensive rates?

As you can see, Progressive is quite a bit cheaper than Key, with premiums averaging $180 a month compared to $285 with Key when looking at the national average rates for insurance.

That being said, Progressive may not be the most affordable or best option for each driver out there. After all, car insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, your credit score, your driving record, or even where you call home (among other things), so prices will differ quite a bit from person to person.

Luckily, we've broken down average premiums from both Key and Progressive by a bunch of different rate factors, so read on to find out which company is the best for you.

Key vs. Progressive: Average Car Insurance Rates by State

Key and Progressive only compete against each other in Nevada, where Progressive offers the cheaper average rates. Progressive drivers tend to pay about $107 per month less on average compared to drivers who use Key for their auto insurance.

But there's more to car insurance than just your home state. As we mentioned above, there's a lot of things that go into how insurance companies determine your premiums. Read on to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for auto insurance than any group on the road. It's generally because teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use Progressive save almost 35% a month compared to those who use Key.

However, with both carriers, you'll see your rates decrease significantly by the time you turn 25. For example, average prices for Key policyholders reduce around $450 and Progressive's premiums lower about $300 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the lowest car insurance rates out there. After all, they've likely been driving for quite some time, which typically lowers their chances of collisions and other infractions that can raise prices.

So, which carrier offers the best rates to retired drivers? Progressive gets the edge, with premiums for drivers 65 and older $92 cheaper than the national average for Key.

Which is the Best Company for Married Drivers?

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

For single policyholders, the difference in average prices between these two companies is significant, with Progressive premiums coming in at a third less than Key's. The advantage for married couples with Progressive is also obvious, where drivers save nearly $80 per month.

Key or Progressive: Average Rates by Gender

Because women are less likely to get speeding tickets and get into accidents, they have a decreased chance of filing a claim with insurance. So, insurance carriers will tend to charge women less than men.

On average, men see rates over 15% a month higher with Key, and around 3% with Progressive.

Looking at the data for each company specifically, Progressive comes out as the cheapest option for both genders. On average, male drivers save about $128 per month and women save about $80 with Progressive compared to the average Key policyholder.

Key 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 insurance can be pretty complicated. Everyone needs auto insurance, but there are so many different coverages and terms that it can be hard to find the right policy for you.

But most policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause a collision) and full coverage (which usually refers to having collision and comprehensive coverages in addition to liability coverage).

Looking specifically at state minimum limits for liability insurance, Progressive has the significant edge, with average monthly premiums 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 a month to Key's $373.

Is Key or Progressive Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their car 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 Key or Progressive more affordable for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Key insurance policies don't report seeing their premiums increase after getting a ticket, but Progressive policyholders can expect to see their monthly bill increase by about $30.

Even so, Progressive tends to offer the best prices for drivers both with a speeding ticket and with a clean record, offering rates that are $61 and $30 less expensive, respectively, compared to Key Insurance Company.

Which Company is Best for Drivers After an Accident?

Key drivers who get in an accident can expect to see their prices rise by $25, while those who have insurance through Progressive will see around a $65 increase.

At the end of the day, Progressive offers the most affordable premiums for drivers with an at-fault collision on their records, with average rates coming in at $214 compared to Key Insurance Company's $235.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your auto insurance bill. For example, Key increases average prices by more than $250 per month -- that's more than a 55% increase.

How does Credit Score Impact Key and Progressive Rates?

Did you know many car insurance companies take your credit score into account when determining premiums? This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as an insurance factor) but it does affect quite a few policyholders out there.

Insurance carriers argue that those with good credit scores are more likely to pay their bills on time each month, which decreases the risk involved on their end, while the opposite is true for those with bad credit.

So, which carrier offers the best prices 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 Key or Progressive Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in how much auto insurance companies will charge for coverage. That's because the more milage you put on your car, the more likely you are to be in a collision and file an insurance claim.

In this case, neither Key or Progressive report increasing rates for drivers with higher annual mileage figures. Even so, Progressive comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle every year, with average premiums of $180 a month for both.

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

Where you live can play a substantial role in how much you pay for insurance. Generally, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers due to the small number of cars that are on the roads where they live.

Progressive tends to offer the cheapest prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save about 34% with Progressive compared to Key. People who live in suburban areas pay around 24% less with Progressive compared to Key. For policyholders in urban ZIP codes, Progressive's average premiums are about 46% less than Key Insurance Company.

Key vs. Progressive Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many auto insurance discounts as possible.

But with what seems like a million different discounts out there, it can be challenging to find all the ones you qualify for or to nail down the carrier that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Key and Progressive so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Progressive knocks Key out of the park when it comes to the sheer number of discounts available, offering 30 more discounts than Key.

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for insuring multiple cars with the same company, and passive restraint discounts. Progressive also offers discounts for ABS, advance quote, advanced safety feature, and more.

Key's discounts come through just a few categories, including Defensive Driver, Good Driving, Multi-Car, and more.

Final Thoughts: Is Key or Progressive Best for You?

So, we've broken down the average rates for many of the variables insurance carriers look at, and walked through the different discounts each company offers, too. But, when it comes down to it, is Key or Progressive the best one for you, your vehicle, and your wallet?

Progressive might be best for you if....

• Your driving record includes a DUI charge.
• You're looking for the best premiums on liability only coverage.
• You don't spend much time in your car.

Key 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 Key and Progressive. We also hope we've given you the information you need to make the best decision when it comes to your car 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 several companies, not just Key and Progressive. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best auto insurance carriers in your area, all for free.

Key vs. Progressive FAQs

Is Key or Progressive cheaper?

Progressive is the more affordable of the two companies when looking at national average prices, with policies averaging $180 per month with Progressive and $285 for Key. That being said, that doesn't mean Progressive will be the most affordable carrier for each policyholder, since there are several different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Key or Progressive?

Sadly, the only answer we can give you is "it depends.". No one company is necessarily "better" for every policyholder -- it all depends on what your unique car insurance profile looks like.

Why do Key and Progressive offer me different rates?

Auto insurance carriers use lots of different variables when calculating the rates they charge. Factors like where you park your vehicle, gender, age, where you call home, and sometimes even things like your credit score can all come into play. Both Key and Progressive calculate prices differently, so it's likely they'll offer different rates. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from a range of different companies.

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

The only way to find the insurance company that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance companies for free. That way, you can guarantee you're getting the cheapest premium. And maybe you'll find that the best carrier for you isn't Key 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.