Progressive Renters Insurance Review

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Progressive wrote its first insurance policy in 1937. The company originally focused on selling car insurance, but over the decades branched out to offer business, home, recreational vehicle and renters insurance. Today, Progressive boasts more than 18 million customers who are served by over 37,000 Progressive employees.

In 2016, Forbes named Progressive to its America’s 50 Most Trustworthy Financial Companies list. AM Best rates Progressive A+ (Superior) for financial strength, and the Better Business Bureau gives the insurer a B- rating.

Progressive offers competitive premiums and operates in most major markets. It provides a wide range of discounts to lower your annual rate and offers several ways to file claims. But is Progressive renters insurance right for you?

Progressive renters insurance coverage

Progressive’s standard rental insurance policy includes an impressive collection of coverages, including:

  • Personal property coverage: This insurance helps pay for damage to or theft of clothes, electronics, furniture and other home furnishings. The protection applies to losses caused by fire, storm damage, theft and vandalism. Personal property coverage also covers items stored in cars and storage units, as well as temporary accommodation such as hotel rooms. Personal property coverage imposes claims limits on certain types of property, like artwork, collectible items and jewelry. In most cases, you can purchase a rider to increase coverage on your most valuable possessions.
  • Personal liability coverage: This helps pay for medical bills or property damage incurred by other people while in your covered property. Personal liability insurance can also help pay legal fees or awards when a court finds you liable for bodily injury or property damage.
  • Medical payments coverage: This covers medical expenses of people outside your household when they sustain an injury in your home.
  • Loss of use coverage: This covers some of your temporary living expenses if your home becomes uninhabitable due to a covered loss. For example, if a fire damages your apartment, loss of use coverage can help pay for temporary accommodation and meals while workers make repairs.

Optional coverage

Progressive’s standard renters insurance policy does not cover your home or apartment’s structure. While the Progressive’s standard renters insurance policy provides enough protection for most renters, it also offers several optional coverages, including:

  • Water back-up coverage: This option covers losses caused by backed-up sewers and sump pumps.
  • Personal injury coverage: This coverage helps pay your legal expenses when someone sues you for libel or slander.
  • Pet insurance: Pet insurance helps pay for medical expenses when your pet gets sick or sustains an injury.

Reasons to choose Progressive renters insurance

Progressive offers an impressive number of discount programs to help lower your renters insurance rate, including:

  • Documents by email discount: By requesting your Progressive renters insurance documents by email instead of postal mail, you could earn a discount.
  • Multi-policy discounts: Save up to 5% on your Progressive auto insurance policy when you bundle it with Progressive renters insurance. Discounts also apply when bundling renters insurance with boat, motorcycle and other Progressive coverages.
  • Pay-in-full discounts: Progressive offers discounts on your renters insurance when you pay your entire premium in one payment.
  • Quote-in-advance discount: If you start your renters policy within three days of receiving a quote, you could earn a discount.
  • Secured or gated community discount: Policyholders with houses or apartments in gated communities or complexes with security guards can earn renters insurance discounts.

Progressive’s mobile app, available for Android and Apple devices, makes it easy to manage your insurance policies. The app enables you to view details of your insurance coverages, view, print and share your insurance card, pay your insurance bill and contact a claims representative or file a claim. Auto policyholders can also request roadside assistance within the app.

Progressive makes it easy to file a claim. You can file online at the Progressive website, over the phone or using the Progressive mobile app.

According to The Zebra, a private organization that studies insurance companies, U.S. renters pay an average annual premium of $188 for renters insurance. Louisiana renters pay the highest average annual rate, $340, while Wyoming residents pays an average premium of $107, the lowest in the nation.

Bankrate reached out to Progressive to request a couple of renters insurance quotes and here is what we found:

Property Location Personal Property Coverage Personal Liability Coverage Medical Liability Coverage Deductible Annual Premium
San Francisco, CA $20,000 $100,000 $1,000 $500 $183
Rockville, MD $20,000 $100,000 $1,000 $1,000 $153

Additional policies offered by Progressive

Besides renters insurance, Progressive sells a full range of coverage, including:

  • ATV, boat, classic car, golf cart, motorcycle, Segway and snowmobile insurance
  • Automobile insurance
  • Business insurance
  • Condo and homeowners insurance
  • Electronic device insurance
  • Event, travel and wedding insurance
  • Flood insurance
  • Health insurance
  • Homeshare and mobile home insurance
  • Identity theft insurance
  • Pet insurance
  • RV and trailer insurance
  • Umbrella insurance

Choosing the coverage that’s right for you

Before shopping for renters insurance, get organized and make a few basic decisions.

Take an inventory of all your personal property

When taking a written inventory, record details such as serial numbers and replacement values. You might also take a video inventory using your smartphone or video camera. You could also use a mobile app designed for home inventory, which enables you to photograph each item and add a text description.

Decide whose property you want to cover

If you share an apartment with a roommate, it might be tempting to purchase one renters policy to cover your combined personal property. While this can save you a little money, it can lead to conflicts if your premium increases due to excessive claims by one party.

Consider additional coverages

Personal property coverage has limits and may not fully cover expensive items such as musical instruments or fine art. In the insurance business, your personal property has an actual cash value and a replacement cost value. For example, if someone steals your three-year-old tablet computer, it may have an actual cash value of $100, but it could cost $500 to replace with a new device. Ask your insurance agent about purchasing riders for your most valued possessions.

Frequently asked questions

What information is needed to get Progressive renters insurance quotes?

The information required for a renters insurance quote varies by state. In most cases, a Progressive representative will need to know your age, address, number of people in your household and if you own a pet. In many states, Progressive will also require you to submit your Social Security number to run a credit check. You can obtain a Progressive renters insurance quote over the phone or on the Progressive website.

How do I file a claim with Progressive?

Progressive policyholders can file a claim on the Progressive website, by calling the progressive claims center or using the Progressive mobile app.

Do I need renters insurance?

Yes. Renters insurance is relatively inexpensive in many places. You never know when a calamity will strike, so it makes sense to cover your valuable possessions with renters insurance.

Does Progressive renters insurance include liability coverage?

Yes. Progressive’s standard renters insurance policy includes liability, personal property, loss of use and medical liability coverages.

Can I get a discount on renters insurance if I have a Progressive car insurance policy?

Yes. If you bundle your renters insurance with a Progressive auto policy, you can save up to 5% on your car insurance. You can also earn additional discounts when you purchase Progressive policies to cover recreational vehicles, vacation homes, classic cars and other types of property.