The Half Payment Budget Method Explained

The post The Half Payment Budget Method Explained appeared first on Penny Pinchin' Mom.

The half payment budget method might be what you need.  If traditional budgets do not work, you really might want to consider this method instead.

 

half payment budget method

 

If you do any research, you will find many ways to budget.  However, many times, the options you find do not work for you.  That is why it is important to find the right budget for your needs.  A new one you may not have tried is the the half-payment budget method.

This system helps many people stop living paycheck to paycheck.  Simply explained, it is where you take your regular, recurring payments and divide them in half.  Each payday, you set aside the necessary money out of each check so that you have the full payment available when it is due.  The half payment is not paid at that time, but rather you hang onto it and pay it on the due date.

If you are just learning about budgeting, you will want to check out our page — How to Budget. There, you will learn everything you want to know about budgets and budgeting.

HOW TO USE THE HALF-PAYMENT BUDGET METHOD

In order to explain this in a simple manner, here is how this system might look for you:

Monthly income: $2,500 (paid $1,250 every other week)

Recurring monthly payments (other than utilities):

Mortgage/Rent: $900
Vehicle Payments: $450
Auto insurance: $100

When you apply the half-payment method, your weekly budget would look something like this:

Paycheck #1 – $1,250

Set aside $450 for rent/mortgage
Set aside $225 for vehicle payments
Set aside $50 for insurance

Leaves $525 out of your paycheck for other expenses

Paycheck #2 – $1,250

Take $450 from previous paycheck and add $450 and pay $900
Take $225 from previous paycheck and add $225 and make full $450 payment
Take $50 from previous paycheck and add $50 to make $100 payment

Leaves $525 out of your paycheck for other expenses from each check

 

Now, let’s compare this to the method that many use – to just pay when the bill is due:

Paycheck #1 – $1,250  

Rent – $900

Leaves $350 for all expenses

Paycheck #2 – $1,250

Vehicle payments – $450
Insurance – $100

Leaves $700 for additional expenses

If you do the math, you will notice that you still have the same to spend over the course of a month, however, you will see a difference in the amount from each paycheck.  You might show that you have more money left after your 2nd paycheck of the month, but will you really save that?  Most people do not. If they have extra month to spend, they just spend it.

 

How to Start

I would not recommend that you jump in and change all of your bills so that they are paid using this method.  That may be too much and you might quit before you even really get started!  Instead, select one bill, such as a car payment, and try using the half payment method for a few months.  Once you see it works, you can transition other bills into this same payment method.

 

Why it Works

So, why would you use the half payment method?  For many it works better because you have around the same income to spend out of every check, rather than cutting your spending in half like you see in the second example.  For many, there is always that paycheck that makes spending tough.  When you have to pay a few larger bills all out of one check, it often leaves little to no money left for other purchases.

By changing to the half method, you are still paying your bills, but you are just earmarking money to pay a bill due later in the month.  You still have the same income.  You still pay your bills on time. However, you have more disposable income every two weeks by doing it in this way.

What is great about this method is that it works no matter how you are paid.  If you are paid monthly or weekly you might try using a quarter payment method every week (breaking out your check to leave spending weekly).

 

If you want to learn more about understanding your money attitude, change your spending habits and get out of debt once and for all, check out the Financial Rebook eBook.

The post The Half Payment Budget Method Explained appeared first on Penny Pinchin' Mom.

Source: pennypinchinmom.com

Progressive Auto Insurance Review – Good Financial Cents®

Key takeaways: Progressive is one of the lowest-cost car insurance providers in most states. They offer rideshare coverage for gig workers. Progressive features an easy, online, obligation-free quote system that’s not common among the major car insurance providers. The company provides one of the most extensive lists of discounts, which may get you the lowest […]

Source: goodfinancialcents.com

State Farm Auto Insurance Review

Key takeaways:

  • State Farm is the number one auto insurer in America
  • State Farm offers rideshare insurance, which can be added to a personal auto insurance policy, keeping their customers safe during work and pleasure.
  • State Farm offers programs like the Steer Clear driving course for drivers under the age of 25 as well as Drive Safe and Save, which is a device that awards you for good driving.
  • The company provides a long list of discounts to help get the lowest rates for policies, as well as a mobile app that allows you to shop for insurance, pay bills, and file claims right on their mobile app.

We all know about Jake from State Farm, wearing khakis at three in the morning, and the famous motto, “like a good neighbor, State Farm is there”. Those famous commercials have built a strong following for State Farm, but commercials aren’t the only reason State Farm is the number one company for auto insurance. State Farm offers a large selection of products and services, all sold by the company itself, as well as a wide range of discounts to help you get the best rate.

#ap11905-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap11905-ww #ap11905-ww-indicator{text-align:right}#ap11905-ww #ap11905-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end}#ap11905-ww #ap11905-ww-indicator-wrapper:hover #ap11905-ww-text{display:block}#ap11905-ww #ap11905-ww-indicator-wrapper:hover #ap11905-ww-label{display:none}#ap11905-ww #ap11905-ww-text{margin:auto 3px auto auto}#ap11905-ww #ap11905-ww-label{margin-left:4px;margin-right:3px}#ap11905-ww #ap11905-ww-icon{margin:auto;padding:1px;display:inline-block;width:15px;height:15px;min-width:15px;min-height:15px;cursor:pointer}#ap11905-ww #ap11905-ww-icon img{vertical-align:middle;width:15px;height:15px;min-width:15px;min-height:15px}#ap11905-ww #ap11905-ww-text-bottom{margin:5px}#ap11905-ww #ap11905-ww-text{display:none}#ap11905-ww #ap11905-ww-icon img{text-indent:-9999px;color:transparent}

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer

#ap11905-w-map{max-width:600px;margin:20px auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap11905-w-map #ap11905-w-map-title{color:#212529;font-size:18px;font-weight:700;line-height:27px}#ap11905-w-map #ap11905-w-map-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap11905-w-map #ap11905-w-disclosure{margin-top:10px;font-size:12px;color:#9b9b9b}#ap11905-w-map #ap11905-w-map-map{max-width:98%;width:100%;height:0;padding-bottom:65%;margin-bottom:20px;position:relative}#ap11905-w-map #ap11905-w-map-map svg{position:absolute;left:0;top:0}#ap11905-w-map #ap11905-w-map-map svg path{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap11905-w-map #ap11905-w-map-map svg path:hover{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9;cursor:pointer}#ap11905-w-map #ap11905-w-map-map svg g rect{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap11905-w-map #ap11905-w-map-map svg g text{fill:#000;text-anchor:middle;font:10px Arial;transition:fill 0.6s ease-in}#ap11905-w-map #ap11905-w-map-map svg g .ap00646-w-map-state{display:none}#ap11905-w-map #ap11905-w-map-map svg g .ap00646-w-map-state rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap11905-w-map #ap11905-w-map-map svg g .ap00646-w-map-state text{fill:#fff;font:19px Arial;font-weight:bold}#ap11905-w-map #ap11905-w-map-map svg g:hover{cursor:pointer}#ap11905-w-map #ap11905-w-map-map svg g:hover rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap11905-w-map #ap11905-w-map-map svg g:hover text{fill:#fff}#ap11905-w-map #ap11905-w-map-map svg g:hover .ap00646-w-map-state{display:initial}#ap11905-w-map #ap11905-w-map-btn{padding:9px 41px;display:inline-block;color:#fff;font-size:16px;line-height:1.25;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap11905-w-map #ap11905-w-map-btn:hover{color:#fff;background-color:#508fc9}

With proper car coverage, you'll be protecting your vehicle and the investment it represents.
Getting a free quote from State Farm will allow you to see how much you can save on your car insurance policy. Click your state to get stared
HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas

Get a Free Quote

About the Company

State Farm is the largest auto insurance provider, based on direct premiums written, with 16.2% of all auto insurance in force in the U.S. The company has more than 83 million accounts, with over $40 billion in direct premiums written.

Although the company offers a large variety of other services, their main product is car insurance. In this review, we’re going to focus on State Farm car insurance, and also spend some time on their home insurance offerings.

State Farm Car Insurance

Basic features of State Farm car insurance are as follows:

  • Availability: All 50 states, plus the District of Columbia
  • Covered vehicles: Autos, classic cars, snowmobiles, motorcycles, RVs, recreational vehicles, ATVs/UTVs, campers, dune buggies, golf carts, trailers, mobile homes, and boats
  • Customer support: 24/7, 365 days a year by phone
  • Claims satisfaction: According to the JD Power 2020 US Auto Claims Satisfaction Study (released in October, 2020), State Farm ranks #6 out of 24 companies providing car insurance nationwide. They score 881 out of a potential 1,000 points, which is above the industry average of 872.
  • Financial strength rating: A++ (Superior)
  • Better Business Bureau ranking: Not Rated

How to Sign Up with State Farm Car Insurance

Signing up for State Farm can be done online or by phone, as well as finding your local State Farm office and getting a quote in person.

Much like other insurance quotes, State Farm’s application requires basic information as well as your driver’s license number or social security number to get a quote. The application will also require either an email address or phone number from the applicant.

If you prefer live contact, State Farm has a network of offices and agents across the country to walk you through the application process.

Unique Features

State Farm is number one for a reason, and although they don’t always have the lowest rates, they do offer a long list of discounts as well as great customer service. Here’s what makes State Farm so great:

  • Large number of discounts: State Farm offers many discounts for any policy.
  • Accident-Free Discount: Discounts can be applied to your policy if you go three or more years without any accidents or claims.
  • Accident forgiveness: Offered to customers who’ve been with the company for 9 years and have no accidents.
  • Drive Safe and Save: A device in your car that allows you to keep track of your driving through the State Farm app, savings vary based on how well you score.

State Farm Auto Insurance Coverage Options

State Farm offers standard auto insurance coverage provisions.

  • Bodily injury and property liability coverage.
  • Collision and comprehensive coverage.
  • Uninsured and underinsured liability coverage.
  • Medical payment and personal injury protection coverage.

Optional coverage provisions include the following:

  • Rental car reimbursement and travel expenses: Your car must be undriveable in order to qualify, and you’ll receive reimbursement for a rental car while your vehicle is in the shop being repaired as well as up to $500 in travel expenses.
  • Rideshare coverage: Extends from your regular auto insurance policy and provides coverage when you’re logged into your ridesharing app and waiting for a trip request or if you’re a driver waiting for a customer.
  • Roadside assistance: Includes towing, lockout service, delivery of gas, oil, battery, or a flat tire change, and up to one hour of mechanical labor at the breakdown site.
  • Drive Safe and Save: Provides a score of how well you drive and discounts your premium based on your score.

NOTE: State Farm does not offer GAP insurance however, they do offer a Payoff Protector. If you have an auto loan through State Farm, the benefit covers the outstanding principal balance if your car is totaled or stolen. Otherwise you will need to obtain gap coverage from the dealer or lender on your vehicle.

State Farm Discounts

State Farm offers one of the most extensive lists of discounts in the auto insurance industry.

Below is a list of the discounts they offer, and the average premium savings you can expect:

  • Passive Restraint: varies (airbags, seatbelts, etc.)
  • Anti-Theft System: varies
  • Drive Safe and Save: up to 30%
  • Drivers Training: varies (under age 21)
  • Good Driver: varies (three or more years accident- and claim-free)
  • Defensive Driving: 10-15%
  • Good Student: 25%
  • Multi-Vehicle: 20%
  • Multi-Policy: 17%
  • Student Away at School: varies (under age 21)
  • Steer Clear: 15% (under age 25)

Sample Premiums

To provide reasonable estimates of State Farm car insurance premiums, the table below presents semi-annual premiums for four drivers under six scenarios each. We’ve obtained these through direct quotes from the State Farm website.

Three quotes are based on liability amounts. Liability limits are expressed in a three-number sequence that looks like XX/XX/XX. The first number in the sequence is the amount of coverage for an injury to one person in an accident that’s determined to be your fault. The second number is the coverage limit for all injured parties in a single accident, while the third is coverage for property damage to other people’s property.

The limits we’ve used in our table are as follows:

1. 30/60/25 (the minimum coverage allowed in Texas)

2. 50/100/50

3. 100/300/100

In addition, the table also presents each liability coverage amount with uninsured and underinsured motorists, as well as collision and comprehensive coverage added to the basic liability policy.

We got quotes for four individual driver profiles, including a 23-year-old male, a 23-year-old female, a 53-year-old male, and a 53-year-old female. All four live in suburban Houston, Texas (Zip Code 77009), and drive a 2018 Toyota Camry 12,000 miles per year. None of the drivers has a moving violation or at-fault accident claim in the previous three years.

For simplicity’s sake, each driver is single, rents their home and has a college degree.

Here are the results:

Coverage / Driver Profile Male, 23 Female, 23 Male, 53 Female, 53
Rate for State Minimum –30/60/25 – Liability Only $434 $360 $273 $274
With Un/Under-insured Motorist and Collision & Comprehensive  $1,083  $922  $685  $685
50/100/50 – Liability Only  $472  $391  $297  $297
With Un/Under-insured Motorist and Collision & Comprehensive  $1,189  $967  $724  $724
100/300/100 – Liability Only  $512  $423  $322  $322
With Un/Under-insured Motorist and Collision & Comprehensive  $1,199  $1,024  $772  $772

NOTES: These are simplified quotes. For example, each driver’s credit history is not considered. Neither are certain optional coverages, like car replacement rental, roadside assistance, or GAP coverage for the payoff of a loan or lease.

Who State Farm Is Best For

Driver profiles and situations will vary, but State Farm may be the right choice for you if any of the following apply:

  • State Farm is the lowest-cost provider in your state for your driver profile.
  • You participate in ridesharing activities.
  • You have multiple drivers and vehicles that will qualify for several volume discounts.
  • You prefer dealing with a live agent, rather than an all-online experience.
  • You need multiple insurance policy types that you want to keep with one company.

State Farm vs. Other Car Insurance Companies

The table below compares State Farm with three of the most popular auto insurance providers in the country: Progressive, Geico, and Allstate. We’ve used side-by-side comparisons of three popular coverage levels, as well as the claims satisfaction and financial strength rating for each company.

Category / Company State Farm Progressive Geico Allstate
Average Annual Premium: State Minimum $500 $516 $464 $756
Average Annual Premium: 50/100/50 with Collision & Comprehensive $1,190 $1,106 $1,006 $1,754
Average Annual Premium: 100/300/100 with Collision & Comprehensive $1,380 $1,346 $1,222 $2,140
J.D. Power Claims Satisfaction Rating 881/1,000 856/1,000 871/1,000 876/1,000
A.M. Best Financial Strength Rating A++ (Superior) A+ (Superior) A++ (Superior) A+ (Superior)

The company that you feel will work best for you will depend on your own driver profile, your state of residence, and the specific needs and preferences you have for your policy.

SOURCE: Average Cost of Car Insurance in 2021 from The Zebra

What To Know About Auto Insurance

You’ll want to make sure that the coverage you carry matches your net worth. Cutting corners on price and coverage can leave you in financial ruin. If you find yourself in an accident, a lower premium may not provide you with enough coverage. Below are some things to look for when shopping around for a premium.

  • Keep sufficient coverage: State minimum may not be enough coverage, especially if you’re a higher risk driver or you drive a newer, more expensive car.
  • Clean credit: Insurers will look to your credit score when it comes to your premium. If you have a higher score, it’s more likely you’ll get a lower rate.
  • Add important coverage options: Although most states require insurance, some people still drive without it, or an insufficient amount of it. Optional provisions like uninsured/underinsured motorists can protect you if you’re in a situation with either type of driver.
  • Deductible: Larger deductibles will lower your rate, but don’t choose a deductible unless you’re sure you can pay it upfront for a claim.
  • Discounts: Most insurers offer discounts, find out from each company about any and all that apply to you.
  • Shop around: Get quotes from several companies to compare coverage and premium.

State Farm Home Insurance

State Farm ranks Number 1 in homeowner’s insurance. Although the company has fewer discounts than other home insurers, they still offer the same types of coverages.

  • Availability: all 50 states

Basic Home Insurance Coverage

State Farm home insurance policies provide the following basic homeowner coverage types:

  • Dwelling: Covers damage to your home as well as loss of your home in the event of an incident.
  • Personal possessions: Protects against damage, theft, and destruction of your personal items.
  • Loss of use: Provides coverage for living expenses, like lodging, if you’re unable to stay in your home.
  • Medical Payments: Covers medical bills for someone injured on your property.
  • Liability: Much like auto insurance, this provision offers protection for bodily injury and property damage against someone that you’re at-fault for.

Home Insurance Discounts

State Farm’s home insurance discounts are similar to those available for car insurance, and include:

  • Bundle home and auto
  • Sprinkler system discount
  • Security device discount
  • Damage resistant roofing material discount

State Farm Home Insurance Ratings & Average Premium

  • Claims satisfaction: Scored 880 out of 1,000 points 2021 US Property Claims Satisfaction Study, ranking #13 among18 companies nationwide.
  • Financial strength rating: A++ (Superior) by A.M. Best.
  • Average homeowner’s insurance premium: $1,296 (SOURCE: The Zebra)

#ap49712-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap49712-ww #ap49712-ww-indicator{text-align:right}#ap49712-ww #ap49712-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end}#ap49712-ww #ap49712-ww-indicator-wrapper:hover #ap49712-ww-text{display:block}#ap49712-ww #ap49712-ww-indicator-wrapper:hover #ap49712-ww-label{display:none}#ap49712-ww #ap49712-ww-text{margin:auto 3px auto auto}#ap49712-ww #ap49712-ww-label{margin-left:4px;margin-right:3px}#ap49712-ww #ap49712-ww-icon{margin:auto;padding:1px;display:inline-block;width:15px;height:15px;min-width:15px;min-height:15px;cursor:pointer}#ap49712-ww #ap49712-ww-icon img{vertical-align:middle;width:15px;height:15px;min-width:15px;min-height:15px}#ap49712-ww #ap49712-ww-text-bottom{margin:5px}#ap49712-ww #ap49712-ww-text{display:none}#ap49712-ww #ap49712-ww-icon img{text-indent:-9999px;color:transparent}

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer

#ap49712-w-text{margin:20px auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap49712-w-text #ap49712-w-text-title{color:#212529;font-size:20px;font-weight:700;line-height:30px}#ap49712-w-text #ap49712-w-text-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap49712-w-text #ap49712-w-disclosure{color:#9b9b9b;margin-top:10px;font-size:12px}#ap49712-w-text #ap49712-w-text-btn{margin-top:25px;padding:9px 13px;display:inline-block;color:#fff;font-size:16px;line-height:20px;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap49712-w-text #ap49712-w-text-btn:hover{color:#fff;background-color:#508fc9}

You can save up to 25% when bundling Home and Auto Insurance.
Make sure that both investments are protected at all times while you save money. Click below to get a free quote.

Get a Free Quote

How to Sign Up with State Farm Home Insurance

Much like a State Farm car insurance quote, you’ll complete the application process for home insurance online. If you prefer, you can call a toll-free number or go to a local office.

Other Services Offered by State Farm

Listed below are the other products and services that State Farm provides.

  • Pet insurance (through Trupanion)
  • Disability (long and short term)
  • Life insurance (term, whole, universal, change policy and beneficiary)
  • Small business insurance (owner, commercial, contractors, workers comp., liability umbrella, bonds)
  • Liability (business, professional, personal)
  • Health insurance (individual, supplemental, Medicare)

If any of the above situations apply to you, you may want to discuss it with a State Farm representative when adding it to your auto insurance policy, or if you already have a policy with them.

The Bottom Line

State Farm covers more than 16% of all drivers in the country, as well as being number one in life insurance and homeowner’s insurance. With such high ratings in customer satisfaction and customer service, it’s hard not to give them a chance. When searching for any kind of insurance, State Farm should be among the companies you look to for a quote.

State Farm FAQs

Is State Farm good car insurance?

State Farm is the biggest auto insurer in the country. Customers are typically drawn to a company by a combination of quality and affordability, so this speaks volumes about State Farm. They offer a wide range of insurance policies, including life, health and business insurance, which makes it easier for consumers to keep all their insurance coverage with the same company.

Is State Farm the cheapest insurance?

State Farm is not always the cheapest, though they are the lowest in some states. But car insurance should never be purchased based on premium alone. You need to evaluate the cost of a policy against the quality of coverage being provided. State Farm comes up strong in those comparisons.

Is State Farm good at paying claims?

State Farm ranks sixth in the nation on customer claims satisfaction, according to the J.D. Power 2020 US Auto Claims Satisfaction Study cited earlier. That’s no small advantage, given the large number of auto insurance companies in the country. You can generally expect a good claims experience with State Farm.

The post State Farm Auto Insurance Review appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

Esurance Car Insurance Review

Key takeaways:

  • Esurance was purchased by rival insurance company Allstate in 2011, yet these two companies still operate independently of one another.
  • While it has been reported that Allstate was planning to drop Esurance in 2019 and then again in 2020, this hasn’t happened yet.
  • Esurance was originally envisioned as a low-cost insurance provider that may be able to compete with GEICO and Progressive.
  • The company makes it easy to get an online quote for car insurance, and multiple discounts can help you save big on premiums.

Esurance was originally envisioned as an online auto insurance provider who could provide cheaper premiums than other big players in the industry. While originally founded in 1999, the company was purchased by Allstate in 2011. To this day, Esurance is still part of the Allstate family, which brings more than 90 years of experience in the insurance industry along with it.

Unfortunately, Esurance was not rated in the most recent auto insurance study from J.D. Power, so it’s somewhat difficult to gauge customer service satisfaction ratings among customers with this company. With that being said, Esurance does boast an average star rating of 3.9 out of 5 stars across more than 1,300 reviews on Consumer Affairs.

If you’re in the market for a new auto insurance policy, you may be wondering if Esurance is worth considering. Read on to learn how this company’s car insurance policies are structured and whether you should consider it.

#ap95097-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap95097-ww #ap95097-ww-indicator{text-align:right}#ap95097-ww #ap95097-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end}#ap95097-ww #ap95097-ww-indicator-wrapper:hover #ap95097-ww-text{display:block}#ap95097-ww #ap95097-ww-indicator-wrapper:hover #ap95097-ww-label{display:none}#ap95097-ww #ap95097-ww-text{margin:auto 3px auto auto}#ap95097-ww #ap95097-ww-label{margin-left:4px;margin-right:3px}#ap95097-ww #ap95097-ww-icon{margin:auto;padding:1px;display:inline-block;width:15px;cursor:pointer}#ap95097-ww #ap95097-ww-icon img{vertical-align:middle;width:15px}#ap95097-ww #ap95097-ww-text-bottom{margin:5px}#ap95097-ww #ap95097-ww-text{display:none}#ap95097-ww #ap95097-ww-icon img{text-indent:-9999px;color:transparent}

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer

#ap95097-w-map{max-width:600px;margin:20px auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap95097-w-map #ap95097-w-map-title{color:#212529;font-size:18px;font-weight:700;line-height:27px}#ap95097-w-map #ap95097-w-map-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap95097-w-map #ap95097-w-disclosure{margin-top:10px;font-size:12px;color:#9b9b9b}#ap95097-w-map #ap95097-w-map-map{max-width:98%;width:100%;height:0;padding-bottom:65%;margin-bottom:20px;position:relative}#ap95097-w-map #ap95097-w-map-map svg{position:absolute;left:0;top:0}#ap95097-w-map #ap95097-w-map-map svg path{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap95097-w-map #ap95097-w-map-map svg path:hover{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9;cursor:pointer}#ap95097-w-map #ap95097-w-map-map svg g rect{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap95097-w-map #ap95097-w-map-map svg g text{fill:#000;text-anchor:middle;font:10px Arial;transition:fill 0.6s ease-in}#ap95097-w-map #ap95097-w-map-map svg g .ap00646-w-map-state{display:none}#ap95097-w-map #ap95097-w-map-map svg g .ap00646-w-map-state rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap95097-w-map #ap95097-w-map-map svg g .ap00646-w-map-state text{fill:#fff;font:19px Arial;font-weight:bold}#ap95097-w-map #ap95097-w-map-map svg g:hover{cursor:pointer}#ap95097-w-map #ap95097-w-map-map svg g:hover rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap95097-w-map #ap95097-w-map-map svg g:hover text{fill:#fff}#ap95097-w-map #ap95097-w-map-map svg g:hover .ap00646-w-map-state{display:initial}#ap95097-w-map #ap95097-w-map-btn{padding:9px 41px;display:inline-block;color:#fff;font-size:16px;line-height:1.25;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap95097-w-map #ap95097-w-map-btn:hover{color:#fff;background-color:#508fc9}

Make sure that you're not over paying for car insurance – get a free quote today.
Click your state to get matched to a top ranked car insurance provider in your area.
HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas

Get a Free Quote Today

About the Company

  • Esurance was founded in 1999 before being purchased by Allstate Insurance in 2011. 
  • A.M. Best, an independent insurance rating organization, awarded Esurance an A+ rating for its financial strength. 
  • Currently, Esurance is licensed to offer auto insurance in 43 states. 
  • Esurance claims to offer auto quotes online in as little as six minutes, and that customers who switch save an average of $462 on their policies. 

In addition to auto insurance, Esurance also offers homeowners insurance, renter’s insurance, motorcycle insurance and more.

Esurance Car Insurance Sample Rates

Coverage / Driver Profile Male, 23 Female, 23 Male, 53 Female, 53
30/60/25– Liability Only $186.43 per month $171.10 per month $145.78 per month $142.78 per month
With Un/Under-insured Motorist and Collision & Comprehensive $485.31 per month $418 per month $290.05 per month $283.98 per month
100/300/100 – Liability Only $260.40  per month $245.74 per month $180.26 per month $174.93 per month
With Un/Under-insured Motorist and Collision & Comprehensive $464.97 per month $417.17 per month $324.54  per month $315.54 per month

To come up with the sample auto insurance premiums for the chart above, we sought quotes for Houston, Texas drivers ages 23 and 53. Each quote is for a single insured driver who owns a 2018 Toyota Camry and drives approximately 12,000 miles per year. Quotes in the chart are for fully-employed male and female drivers with a clean driving record.

Note: Liability limits are expressed in a three-number sequence that looks like XX/XX/XX. The first number in the sequence is the amount of coverage for an injury to one person in an accident that’s determined to be your fault. The second number is the coverage limit for all injured parties in a single accident, while the third is coverage for property damage to other people’s property.

Unique Features

Esurance does offer some unique features that help them stand out, including the following:

  • Rideshare Coverage: Esurance offers specialized ShareSmart® coverage for customers who drive for Uber or Lyft. 
  • Esurance Mobile App: You can use the Esurance mobile app to check the details of your policy, update your coverage, pay your car insurance bill, file a claim and more.
  • DriveSense Savings Program: This program lets you download an app and save on car insurance premiums based on how you drive. 
  • Flexible Coverage Options: You can tailor your auto insurance coverage options and limits to your needs and your budget.
  • Photo Claims: The Esurance mobile app lets you file claims using your mobile device, often by taking a photo of the damage with your phone.

Esurance Car Insurance Discounts

Like other major car insurance providers, Esurance offers a range of discounts that can help you pay less for your premiums overall. Also be aware that Esurance makes it possible to “stack” multiple discounts for even more savings. For example, you can save money with one of the discounts below while also using their DriveSense savings app and program.

If you’re planning to get a quote for auto insurance from Esurance, make sure to see if you’re eligible for the following discounts:

  • Full Payment Discount: Pay less for your policy when you pay for six months of premiums upfront instead of on a monthly basis.
  • Good Student Discount: Score lower premiums if you’re a student with good grades or an excellent GPA.
  • Multiple Policy Discount: You can save on auto insurance with Esurance if you also use this company for your homeowners insurance or renter’s insurance coverage.
  • New Customer Discount: Esurance says new customers qualify for special savings that work out to an average of $462 when they switch insurance providers.
  • Safety Features: Pay less for your auto insurance coverage if you have safety features like anti-lock brakes and airbags.
  • Low Mileage Discounts: Customers often pay less for auto insurance when they work at home or drive their cars infrequently.
  • Multiple Vehicle Discounts: Insure more than one car within your Esurance policy and you can get a discount on your overall premiums.
  • Safe Driving Discounts: You’ll pay less for premiums if you have a safe driving record without any tickets or accidents.
  • PayPal Discount: Some customers are eligible for a discount if they have a PayPal account and have made an eligible transaction in the last 12 months.
  • Online Shopper Discount: Get a discount just for shopping for car insurance with Esurance online.

Who Esurance is Best For

If your goal is getting a good deal on car insurance, you should shop around and compare premiums with at least three or four different insurance companies. With that being said, you should make sure you’re comparing premiums for the same level of coverage and the same policy limits.

While Esurance auto insurance may or may not offer better premiums than other providers when you enter your information, we still believe this company is better for certain types of consumers than others.

For example, Esurance may be ideal for:

  • Rideshare drivers who want additional protection when they drive for Uber or Lyft
  • Anyone who plans to bundle their car insurance with renter’s insurance or another policy in order to save money
  • Consumers who want to manage their car insurance and make claims using a mobile app
  • People who can qualify for multiple Esurance discounts to save big on premiums
  • Anyone who wants to try the Esurance DriveSense program for even more savings
  • People who want insurance “extras” added to their policy, such as roadside assistance, loan/lease gap coverage and rental car coverage

To find out if Esurance is right for your insurance needs, you’ll want to start the process by getting a free quote. From there, you can play around with coverage options and policy limits to see how much you would need to pay for the amount of coverage you need to sleep well at night.

Esurance vs. Other Insurance Companies

As we mentioned already, we also suggest comparing auto insurance premiums among at least three or four different providers. This exercise will help you determine which company offers the best coverage for a price you can afford.

To help in your search, we picked a few top providers that offer similar coverage options to Esurance. The following chart highlights the basic details of three other auto insurance companies — GEICO, Liberty Mutual and Allstate.

GEICO Liberty Mutual Allstate
Discounts offered Vehicle equipment discountsDiscounts for driving history and habitsGood Driver discountGood student discountFederal employee and military discountsMultiple policies Vehicle equipment discountsDiscounts for driving history and habitsHomeowner discountMilitary discountMultiple policy discountGood student discountEarly shopper discount New car discountMulti-policy discountGood student discountEquipment discountsPayment discountsSafe driving discounts
Ratings for customer service in J.D. Power’s 2021 U.S. Auto Insurance Study Scored above average in 3 out of 11 regions nationwide Scored above average in 2 out of 9 regions where offered nationwide Scored above average in 1 out of 11 regions nationwide
Customer star rating (Consumer Affairs) 3.7 out of 5 stars 4 out of 5 stars 3.8 out of 5 stars
Financial strength rating (A.M. Best) A++ A A+

What To Know About Esurance Car Insurance

Esurance offers robust auto insurance coverage with plenty of ways to customize your policy. With that being said, they note that their insurance coverage is mostly aimed at protecting you in the following three areas:

  • Coverages that protect your car 
  • Coverages that protect you and your passengers (medical)
  • Coverages that protect your wallet (liability)

Within these three categories, the main types of auto insurance coverage you can purchase through Esurance include the following:

  • Collision coverage that helps repair or replace your car in the event of an accident
  • Comprehensive coverage that protects your car from damage not caused by an accident
  • Emergency roadside assistance that can be there for you if you run out of gas, your car breaks down or you need other types of help
  • Rental car coverage that reimburses you if your car is being fixed and you need a rental car
  • Loan or lease gap coverage that kicks in to pay the difference when your car is totaled and you owe more than it’s worth
  • Medical payments coverage for you and the passengers in your car
  • Personal injury protection (PIP) that covers your medical expenses regardless of who was at fault in an accident
  • Bodily injury liability coverage that protects the driver against financial losses when another person is injured in an accident
  • Property damage liability coverage that protects the driver when another person’s property is damaged in an accident
  • Uninsured/underinsured motorist coverage that kicks in to pay for bodily injury and property damage claims when the other party in an accident is uninsured or underinsured

Note that these are the types of coverage you can buy through Esurance, but that you can tailor your policy so you’re only paying for the types of insurance you want or need. You can also play around with policy limits, deductibles and other coverage options to get your monthly premiums where they need to be.

#ap31769-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap31769-ww #ap31769-ww-indicator{text-align:right}#ap31769-ww #ap31769-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end}#ap31769-ww #ap31769-ww-indicator-wrapper:hover #ap31769-ww-text{display:block}#ap31769-ww #ap31769-ww-indicator-wrapper:hover #ap31769-ww-label{display:none}#ap31769-ww #ap31769-ww-text{margin:auto 3px auto auto}#ap31769-ww #ap31769-ww-label{margin-left:4px;margin-right:3px}#ap31769-ww #ap31769-ww-icon{margin:auto;padding:1px;display:inline-block;width:15px;cursor:pointer}#ap31769-ww #ap31769-ww-icon img{vertical-align:middle;width:15px}#ap31769-ww #ap31769-ww-text-bottom{margin:5px}#ap31769-ww #ap31769-ww-text{display:none}#ap31769-ww #ap31769-ww-icon img{text-indent:-9999px;color:transparent}

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer

#ap31769-w-text{margin:20px auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap31769-w-text #ap31769-w-text-title{color:#212529;font-size:20px;font-weight:700;line-height:30px}#ap31769-w-text #ap31769-w-text-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap31769-w-text #ap31769-w-disclosure{color:#9b9b9b;margin-top:10px;font-size:12px}#ap31769-w-text #ap31769-w-text-btn{margin-top:25px;padding:9px 13px;display:inline-block;color:#fff;font-size:16px;line-height:20px;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap31769-w-text #ap31769-w-text-btn:hover{color:#fff;background-color:#508fc9}

One of the best ways to pay less for Car Insurance is by comparing car insurance quotes.
Click below to begin finding your lower rate today on Progressive.

Compare Quotes & Find Lower Rate

The Bottom Line

Esurance is a highly-rated auto insurance provider that offers coverage in 43 different states. You may be able to save money on premiums with the many auto insurance discounts they offer, and you can find out in six minutes or less by getting a free quote from Esurance online.

With that being said, it never hurts to compare coverage options from other auto insurance providers, including ones that may have more reviews as well as ratings from third parties like J.D. Power.

Esurance Auto Insurance Frequently Asked Questions (FAQ)

Are Esurance and Allstate the same?

Allstate purchased Esurance in 2011, and rumors have swirled the last few years that the insurance giant plans to drop the brand. However, Allstate still owns Esurance as of August 2021. While one company owns the other, the two insurance companies operate independently.

How do I pay Esurance?

You can pay Esurance premiums over the phone, on the company website or using the Esurance mobile app.

How do I contact Esurance?

You can call Esurance 24 hours a day at 1-800-378-7262. You can also contact the company through their online email form, reach out to Esurance on Facebook or tweet the company at @Esurance.

What kinds of insurance can I get through Esurance?

Esurance offers auto insurance, homeowners insurance, renter’s insurance and motorcycle insurance.

The post Esurance Car Insurance Review appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

Allstate Insurance Auto Review

Key takeaways:

  • Allstate ranked below average for customer service satisfaction in most regions nationwide, according to 2021 data. 
  • This provider offers a plethora of auto insurance discounts you can qualify for, as well as its own driving-based Allstate Drivewise program.
  • Allstate features an easy online claims process, as well as an online portal where you can track your policy information and payments.

Allstate is one of the most popular auto insurers nationwide, and this is partly due to the company’s marketing efforts. After all, the company slogan — “You’re in good hands” — gives potential customers a warm and fuzzy feeling about the coverage they’re buying, and their low introductory rates for new customers can easily lure people in.

Unfortunately, not all Allstate customers are happy with their experience when it comes time to file a claim. This is evidenced by J.D. Power’s 2021 U.S. Auto Insurance Study, which ranked Allstate below average for customer service satisfaction in 10 out of 11 regions nationwide. Some Allstate car insurance customers have also complained about premiums that inch up over time, as well as problems getting claims covered or reimbursed.

If you’re shopping for car insurance, however, you’ll quickly find that all insurers have their downsides. Keep reading to learn how Allstate Auto Insurance stacks up to the competition, when you should consider it and how to qualify for the best car insurance rates.

#ap9829-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap9829-ww #ap9829-ww-indicator{text-align:right}#ap9829-ww #ap9829-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end}#ap9829-ww #ap9829-ww-indicator-wrapper:hover #ap9829-ww-text{display:block}#ap9829-ww #ap9829-ww-indicator-wrapper:hover #ap9829-ww-label{display:none}#ap9829-ww #ap9829-ww-text{margin:auto 3px auto auto}#ap9829-ww #ap9829-ww-label{margin-left:4px;margin-right:3px}#ap9829-ww #ap9829-ww-icon{margin:auto;padding:1px;display:inline-block;width:15px;cursor:pointer}#ap9829-ww #ap9829-ww-icon img{vertical-align:middle;width:15px}#ap9829-ww #ap9829-ww-text-bottom{margin:5px}#ap9829-ww #ap9829-ww-text{display:none}#ap9829-ww #ap9829-ww-icon img{text-indent:-9999px;color:transparent}

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer

#ap9829-w-map{max-width:600px;margin:20px auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap9829-w-map #ap9829-w-map-title{color:#212529;font-size:18px;font-weight:700;line-height:27px}#ap9829-w-map #ap9829-w-map-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap9829-w-map #ap9829-w-disclosure{margin-top:10px;font-size:12px;color:#9b9b9b}#ap9829-w-map #ap9829-w-map-map{max-width:98%;width:100%;height:0;padding-bottom:65%;margin-bottom:20px;position:relative}#ap9829-w-map #ap9829-w-map-map svg{position:absolute;left:0;top:0}#ap9829-w-map #ap9829-w-map-map svg path{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap9829-w-map #ap9829-w-map-map svg path:hover{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9;cursor:pointer}#ap9829-w-map #ap9829-w-map-map svg g rect{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap9829-w-map #ap9829-w-map-map svg g text{fill:#000;text-anchor:middle;font:10px Arial;transition:fill 0.6s ease-in}#ap9829-w-map #ap9829-w-map-map svg g .ap00646-w-map-state{display:none}#ap9829-w-map #ap9829-w-map-map svg g .ap00646-w-map-state rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap9829-w-map #ap9829-w-map-map svg g .ap00646-w-map-state text{fill:#fff;font:19px Arial;font-weight:bold}#ap9829-w-map #ap9829-w-map-map svg g:hover{cursor:pointer}#ap9829-w-map #ap9829-w-map-map svg g:hover rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap9829-w-map #ap9829-w-map-map svg g:hover text{fill:#fff}#ap9829-w-map #ap9829-w-map-map svg g:hover .ap00646-w-map-state{display:initial}#ap9829-w-map #ap9829-w-map-btn{padding:9px 41px;display:inline-block;color:#fff;font-size:16px;line-height:1.25;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap9829-w-map #ap9829-w-map-btn:hover{color:#fff;background-color:#508fc9}

Make sure that you're not over paying for car insurance – get a free quote today.
Click your state to get matched to a top ranked car insurance provider in your area.
HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas

Get a Free Quote Today

About the Company

  • Allstate Insurance was originally founded in 1931, and they have since grown to become a top provider of auto insurance, homeowners insurance, umbrella insurance and more.
  • As of July 2021, Allstate Insurance Group boasts an A+ (Superior) rating for their financial strength from A.M. Best.
  • This company offers a rewards program for customers who use their Drivewise program, which lets you earn points you can redeem for merchandise, sweepstakes entries and more.
  • Customer reviews for Allstate are mixed. Currently, Allstate has an average rating of 3.9 out of 5 stars among customer reviews on Consumer Affairs. 
  • Allstate offers auto insurance in all 50 states with an array of discounts available.
  • Allstate also offers a robust roadside assistance program that can provide coverage for less than $7 per month during your first year.
Coverage / Driver Profile Male, 23 Female, 23 Male, 53 Female, 53
50/100/50 – Liability Only $77 per month $77 per month $64 per month $62 per month
With Un/Under-insured Motorist and Collision & Comprehensive $272 per month $200 per month $155 per month $143 per month
100/300/100 – Liability Only $82 per month $82 per month $84 per month $82 per month
With Un/Under-insured Motorist and Collision & Comprehensive $298 per month $205 per month $172 per month $150 per month

The sample auto insurance premiums shared in the chart above are based on Houston, Texas drivers ages 23 and 53. Each quote is for a single insured driver who owns a 2018 Toyota Camry and drives approximately 12,000 miles per year. Quotes in the chart are for male and female drivers with no accident history who are employed full-time.

Note: Liability limits are expressed in a three-number sequence that looks like XX/XX/XX. The first number in the sequence is the amount of coverage for an injury to one person in an accident that’s determined to be your fault. The second number is the coverage limit for all injured parties in a single accident, while the third is coverage for property damage to other people’s property.

Unique Features

Allstate does have some unique features that help them stand out as an auto insurance provider. Some of these features provide additional coverage that can help protect against financial losses, while others help customers secure lower auto insurance premiums overall.

  • Rideshare coverage: Allstate offers rideshare coverage in nearly every state, which makes it easy for Uber or Lyft drivers to add this coverage to their personal auto insurance policy. 
  • Drivewise Program: The Allstate Drivewise program lets you save on auto insurance premiums when you agree to install a monitoring device in your car. This device can help you secure discounts when you drive within speed limits, avoid braking incidents and avoid accidents.
  • Allstate Rewards: Allstate Rewards lets customers earn points toward merchandise and sweepstakes entries when they use the Drivewise program and achieve certain driving milsteones.
  • Deductible Rewards: Allstate customers can get $100 off their deductible for signing up and another $100 off their deductible for each year they remain accident-free. The total deductible discount you can gain through this program is capped at $500.
  • Accident Forgiveness: This program allows you to maintain current rates when you’re at fault in an accident. In other words, your auto insurance rates won’t surge when you need to file a claim.
  • Safe Driving Bonus: Add this program to your policy and you can get a bonus when you are accident-free. Allstate auto insurance customers are eligible for a bonus every six months.
  • New Car Replacement: If your car is totaled, having this feature on your policy means you’ll get a new car replacement instead of a check for the depreciated value of your vehicle.
  • Allstate Mobile app: The Allstate mobile app makes it easy to file a claim, monitor your policy and pay your auto insurance premiums from your favorite mobile device.

Roadside Assistance: You can purchase premium roadside assistance coverage with your policy. This protection provides 24/7 assistance when you have a flat tire, you run out of gas or you encounter a problem when driving your vehicle.

Allstate Car Insurance Discounts

One of the major benefits of using Allstate auto insurance is the fact you may be eligible for so many discounts. Also note that the Allstate insurance company lets you combine or “stack” discounts to achieve the lowest rates you possibly can, which is something you’ll quickly notice when you take the time to get an Allstate insurance quote.

Which car insurance discounts from Allstate are most popular? The following discounts could apply to your policy:

  • New car discount: You can save big on your auto insurance premiums if you insure a brand new car with Allstate.
  • Multi-policy discount: Save money with Allstate when you insure more than one vehicle, or when you bundle your Allstate car insurance with homeowners insurance, renter’s insurance or another type of coverage.
  • Smart student discount: You may be eligible for additional discounts if you meet Allstate’s “smart student” requirements by maintaining a GPA of 2.7 or above, attending a teenSMART driver education program or attending school at least 100 miles from where your car is garaged.
  • Equipment discounts: Save on Allstate car insurance premiums when you have anti-lock brakes or an anti-theft device installed on your car.
  • Payment discounts: Pay less for car insurance if you pay for six months of premiums in full, you set up automatic withdrawals for your premiums each month or you enroll in paperless billing.
  • Safe driving discounts: You’ll also pay lower premiums when you remain accident-free and claims-free each year.

Who Allstate Auto Insurance is Best For

As you begin your search for a new auto insurance policy, you’ll probably consider the premiums you’re asked to pay first and foremost. However, you should make sure you’re making a true “apples to apples” comparison if you’re mostly shopping around based on price. For example, make sure the coverage you’re comparing from Allstate and other providers features the same coverage limits and deductibles, as well as the same add-ons and extras.

With this being said, Allstate insurance can be far superior for certain types of consumers, including:

  • Rideshare drivers who want to bundle coverage for their side hustle into their personal auto insurance policy
  • People who can qualify for multiple insurance discounts that help them lower premiums
  • Anyone who plans to bundle their Allstate auto insurance with homeowners insurance, renter’s insurance coverage or another type of insurance
  • Excellent drivers who want to use the Drivewise program to save based on their everyday driving habits
  • Anyone with a good driving record who could qualify for lower premiums based on their age, gender, credit score and other factors

At the end of the day, the best way to know if Allstate is for you is to take the time to get an Allstate insurance quote. From there, you can compare coverage levels and premiums from Allstate with quotes from competing auto insurance providers.

Allstate vs. Other Insurance Companies

Speaking of comparing quotes, there are plenty of other top auto insurance companies you should check out. Many even feature better customer service ratings than Allstate, and you could have the potential to qualify for lower rates based on the information you provide in your application.

The following chart highlights the basic details of three other auto insurance companies — GEICO, State Farm and Liberty Mutual.

GEICO State Farm Liberty Mutual
Discounts offered Vehicle equipment discountsDiscounts for driving history and habitsGood Driver discountGood student discountFederal employee and military discountsMultiple policies Vehicle equipment discountsDiscounts for driving history and habitsAccident-free discountsMultiple auto policyMultiple line discountsGood student discount Vehicle equipment discountsDiscounts for driving history and habitsHomeowner discountMilitary discountMultiple policy discountGood student discountEarly shopper discount
Ratings for customer service in J.D. Power’s 2021 U.S. Auto Insurance Study Scored above average in 3 out of 11 regions nationwide Scored above average in 10 out of 11 regions nationwide Scored above average in 2 out of 9 regions where offered nationwide
Customer star rating (Consumer Affairs) 3.7 out of 5 stars 3.9 out of 5 stars 4 out of 5 stars
Financial strength rating (A.M. Best) A++ A++ A

What To Know About Car Insurance

Before you invest in a car insurance policy, you should know about the different types of coverage you can buy, what they provide protection for and how important they are. Generally speaking, auto insurance coverage is meant to provide property, liability and medical coverage.

According to the Insurance Information Institute (III),

  • Property coverage pays to repair damage to a car, or to replace a car in the event of a theft.
  • Liability coverage pays for bodily injury or property damage caused to others.
  • Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses when the insured is at fault or responsible.

Other major types of car insurance protection include:

  • Collision coverage, which pays for damage to the policyholder’s car when an accident takes place
  • Comprehensive coverage, which kicks in to pay for theft or damage to a car that is not caused by a collision with another car
  • Uninsured and underinsured motorist coverage, which pays for covered losses when a covered driver is hit by an uninsured or underinsured driver

In addition to understanding the types of protection your auto insurance company can include, you should also understand policy limits for different types of coverage, as well as state minimum coverage amounts that can vary based on where you live. While state minimum auto insurance coverage can help you meet the legal limits for being an insured driver, you should know this amount of coverage may not be enough if you’re in an accident where substantial losses occur.

The Insurance Information Institute (III) features a chart that shows the minimum amount of liability coverage you’re required to have based on the state you live in. Keep these minimum limits in mind, but also know that cheap car insurance may or may not provide enough coverage to protect you from substantial financial losses when you’re in an accident.

The Bottom Line

Allstate could provide the auto insurance coverage you need for a price you can afford, but you’ll never really know unless you check. As you shop around for quotes, make sure to see whether you’re eligible for Allstate auto insurance discounts, including “easy” discounts you can get by enrolling in paperless billing or paying for six months of premiums upfront. Also check how your rates might change if you go with higher or lower coverage limits, or if you agree to install a Drivewise device in your vehicle.

While you’re taking the time to get an Allstate insurance quote, however, you should make sure you’re comparing coverage limits and premiums across at least two or three other insurance providers. Auto insurance premiums can vary widely across different insurance companies, and shopping around is the best way to make sure you don’t overpay.

#ap8077-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap8077-ww #ap8077-ww-indicator{text-align:right}#ap8077-ww #ap8077-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end}#ap8077-ww #ap8077-ww-indicator-wrapper:hover #ap8077-ww-text{display:block}#ap8077-ww #ap8077-ww-indicator-wrapper:hover #ap8077-ww-label{display:none}#ap8077-ww #ap8077-ww-text{margin:auto 3px auto auto}#ap8077-ww #ap8077-ww-label{margin-left:4px;margin-right:3px}#ap8077-ww #ap8077-ww-icon{margin:auto;padding:1px;display:inline-block;width:15px;cursor:pointer}#ap8077-ww #ap8077-ww-icon img{vertical-align:middle;width:15px}#ap8077-ww #ap8077-ww-text-bottom{margin:5px}#ap8077-ww #ap8077-ww-text{display:none}#ap8077-ww #ap8077-ww-icon img{text-indent:-9999px;color:transparent}

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer

#ap8077-w-text{margin:20px auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap8077-w-text #ap8077-w-text-title{color:#212529;font-size:20px;font-weight:700;line-height:30px}#ap8077-w-text #ap8077-w-text-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap8077-w-text #ap8077-w-disclosure{color:#9b9b9b;margin-top:10px;font-size:12px}#ap8077-w-text #ap8077-w-text-btn{margin-top:25px;padding:9px 13px;display:inline-block;color:#fff;font-size:16px;line-height:20px;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap8077-w-text #ap8077-w-text-btn:hover{color:#fff;background-color:#508fc9}

One of the best ways to pay less for Car Insurance is by comparing car insurance quotes.
Click below to begin finding your lower rate today on Progressive.

Compare Quotes & Find Lower Rate

Allstate Auto Insurance Frequently Asked Questions (FAQ)

Is Allstate a bad insurance company?

Allstate is not a “bad” insurance company at all, but they do have room for improvement. After all, the company scored below average for customer satisfaction in 10 out of 11 regions profiled in J.D. Power’s 2021 U.S. Auto Insurance Study. Then again, Allstate does have an A+ rating from A.M. Best for their financial strength.

Is Progressive cheaper than Allstate?

Your auto insurance rates will vary from company to company, so make sure to compare premiums for the same level of coverage with Progressive and Allstate.

How do I check my Allstate insurance policy?

You can read over your policy declarations and other details on Allstate.com when you create an account. You can also check your Allstate policy details on the company’s mobile app.

How do I contact Allstate Insurance?

You can contact Allstate Insurance at 1-800-ALLSTATE.

The post Allstate Insurance Auto Review appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

Progressive Auto Insurance Review

Key takeaways:

  • Progressive is one of the lowest-cost car insurance providers in most states.
  • They offer rideshare coverage for gig workers.
  • Progressive features an easy, online, obligation-free quote system that’s not common among the major car insurance providers.
  • The company provides one of the most extensive lists of discounts, which may get you the lowest premium available.
  • The Name-Your-Price tool lets you build a policy around the premium you can afford to pay.

Thanks to its Progressive advertising campaign, Progressive is one of the best-known — and most popular — car insurance companies. But there are plenty of reasons to choose Progressive beyond slick commercials. They became one of the largest car insurance companies in America thanks to a combination of generous discounts, customer-friendly coverage options, and some of the lowest premiums in the industry.

After reading this review, you’ll see why Progressive needs to be on your short list of choices for your next car insurance policy.

#ap67254-ww{padding-top:20px;position:relative;text-align:center;font-size:12px;font-family:Lato,Arial,sans-serif}#ap67254-ww #ap67254-ww-indicator{text-align:right}#ap67254-ww #ap67254-ww-indicator-wrapper{display:inline-flex;align-items:center;justify-content:flex-end}#ap67254-ww #ap67254-ww-indicator-wrapper:hover #ap67254-ww-text{display:block}#ap67254-ww #ap67254-ww-indicator-wrapper:hover #ap67254-ww-label{display:none}#ap67254-ww #ap67254-ww-text{margin:auto 3px auto auto}#ap67254-ww #ap67254-ww-label{margin-left:4px;margin-right:3px}#ap67254-ww #ap67254-ww-icon{margin:auto;padding:1px;display:inline-block;width:15px;cursor:pointer}#ap67254-ww #ap67254-ww-icon img{vertical-align:middle;width:15px}#ap67254-ww #ap67254-ww-text-bottom{margin:5px}#ap67254-ww #ap67254-ww-text{display:none}#ap67254-ww #ap67254-ww-icon img{text-indent:-9999px;color:transparent}

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer

#ap67254-w-map{max-width:600px;margin:20px auto;text-align:center;font-family:”Lato”, Arial, Roboto, sans-serif}#ap67254-w-map #ap67254-w-map-title{color:#212529;font-size:18px;font-weight:700;line-height:27px}#ap67254-w-map #ap67254-w-map-subtitle{color:#9b9b9b;font-size:16px;font-style:italic;line-height:24px}#ap67254-w-map #ap67254-w-disclosure{margin-top:10px;font-size:12px;color:#9b9b9b}#ap67254-w-map #ap67254-w-map-map{max-width:98%;width:100%;height:0;padding-bottom:65%;margin-bottom:20px;position:relative}#ap67254-w-map #ap67254-w-map-map svg{position:absolute;left:0;top:0}#ap67254-w-map #ap67254-w-map-map svg path{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap67254-w-map #ap67254-w-map-map svg path:hover{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9;cursor:pointer}#ap67254-w-map #ap67254-w-map-map svg g rect{fill:#e3efff;stroke:#9b9b9b;pointer-events:all;transition:fill 0.6s ease-in, stroke 0.6s ease-in, stroke-width 0.6s ease-in}#ap67254-w-map #ap67254-w-map-map svg g text{fill:#000;text-anchor:middle;font:10px Arial;transition:fill 0.6s ease-in}#ap67254-w-map #ap67254-w-map-map svg g .ap00646-w-map-state{display:none}#ap67254-w-map #ap67254-w-map-map svg g .ap00646-w-map-state rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap67254-w-map #ap67254-w-map-map svg g .ap00646-w-map-state text{fill:#fff;font:19px Arial;font-weight:bold}#ap67254-w-map #ap67254-w-map-map svg g:hover{cursor:pointer}#ap67254-w-map #ap67254-w-map-map svg g:hover rect{stroke:#1261C9;stroke-width:2px;stroke-linejoin:round;fill:#1261C9}#ap67254-w-map #ap67254-w-map-map svg g:hover text{fill:#fff}#ap67254-w-map #ap67254-w-map-map svg g:hover .ap00646-w-map-state{display:initial}#ap67254-w-map #ap67254-w-map-btn{padding:9px 41px;display:inline-block;color:#fff;font-size:16px;line-height:1.25;text-decoration:none;background-color:#1261c9;border-radius:2px}#ap67254-w-map #ap67254-w-map-btn:hover{color:#fff;background-color:#508fc9}

Make sure that you're not over paying for car insurance – get a free quote today.
Click your state to get matched to a top ranked car insurance provider in your area.
HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas

Get a Free Quote Today

About the Company

Progressive is the third largest auto insurance provider, based on direct premiums written, with 13.3% of all auto insurance in force in the U.S., trailing only State Farm and Geico. The company has more than 18 million customers nationwide, with over $33 billion in direct premiums written.

It’s easy to see why. The company is one of the lowest-cost providers in most states, largely as a result of the many discounts they provide. They also offer important niche products, like rideshare coverage, which reflect the changing needs of their customer base.

Progressive’s primary product is auto insurance, though it does offer home insurance and various other insurance and non-insurance related services. In this review, we’re going to focus on Progressive car insurance, and also spend some time on their home insurance offerings.

Progressive Products & Services

Though Progressive is best known for car insurance — their main product — they also offer other services. The most prominent among these is home insurance, but they also have a wide range of other products and services.

Though this review will focus primarily on Progressive car insurance, we’ll also touch on home insurance below, since it’s relevant to the bundling discount the company offers.

We’ll only briefly mention other products and services offered.

Progressive Car Insurance

Progressive is one of the cheapest providers in most states, providing the lowest premiums in about 10 states.

Basic features of Progressive car insurance are as follows:

  • Availability: All 50 states, plus the District of Columbia
  • Covered vehicles: Autos, classic cars, motorcycles, Segways, snowmobiles, boats, recreational vehicles, ATVs/UTVs, and golf carts
  • Customer support: 24/7 by phone
  • Claims satisfaction: According to the JD Power 2020 US Auto Claims Satisfaction Study (released in October 2020), Progressive ranks #21 out of 24 companies providing car insurance nationwide. They score 856 out of a potential 1,000 points, which is below the industry average of 872.
  • Financial strength rating: A+ (Superior)
  • Better Business Bureau ranking: A+ (on a scale of A+ to F)

How to Sign Up with Progressive Car Insurance

The application process can be completed entirely online, although it can also be done by phone.

One of the features of the Progressive application process we really appreciated is the ability to get quotes online. By entering basic information, we were able to get quotes for various driver profiles without needing to enter sensitive information such as a Social Security number or phone number.

This is an important feature because some car insurance companies just ask for basic information, but then only provide quotes by contacting you, either by phone or by email. The Progressive experience enables you to shop for a policy without incurring sales pressure or repeated contact you may not want.

Unique Features

Though it’s common for consumers to shop for the car insurance provider with the lowest premium, there are several features that make Progressive stand out from the competition:

  • Large number of discounts. Progressive offers one of the widest ranges of discounts in the auto insurance industry and advertises an average savings of $700 per year.
  • Name Your Price Tool. You can build a policy based on the amount of premium you can afford to pay. That’s an excellent perk for anyone with a tight budget.
  • Large and Small Accident Forgiveness. Premiums won’t increase for claims under $500. Further, if you’ve been accident- and violation-free for at least three years and have been a Progressive customer for at least five years, your rate won’t increase after a large accident. This is one of the most flexible accident forgiveness programs in the industry.
  • Rideshare Coverage. This is an important add-on, with so many people now working in the gig economy. 

Progressive Auto Insurance Coverage Options

Progressive offers standard auto insurance coverage provisions, including liability, comprehensive and collision, uninsured/underinsured motorist, and medical payments.

Optional coverage provisions include the following:

  • Loan/lease payoff (GAP). To pay off the difference between the value of the vehicle and the amount owed, up to 25% of the actual cash value.
  • Rental car reimbursement. Receive reimbursement for a rental car while your vehicle is in the shop being repaired.
  • Custom parts and equipment value. Covers up to $5,000 in components added after the vehicle was manufactured.
  • Rideshare coverage. Provides coverage when you’re logged into your ridesharing app and waiting for a trip request or customer. Note that this option is not available in all states.
  • Roadside assistance. Includes towing services, lockout service, flat tire change, fuel/fluid delivery, and related issues.
  • Deductible Savings Bank. Subtracts $50 from your comprehensive and collision deductible for each policy period without an accident or a violation. A $500 deductible can be reduced to zero after five years (ten policy periods of six months each).

Progressive Discounts

Progressive offers one of the most extensive lists of discounts in the auto insurance industry.

Below is a list of the discounts they offer, and the average premium savings you can expect:

  • Bundle with home insurance: 5%
  • Multi-policy: 5%
  • Multi-car: 4%
  • Continuous insurance (even when you first switch to Progressive): Varies
  • Snapshot (safe driver monitoring): $146 per year
  • Teen driver discount: Varies
  • Good student discount: 10%
  • Distant student discount: Varies
  • Homeowner discount: Nearly 10%
  • Online quote: 7%
  • Sign online: 9%
  • Paperless documents: Varies
  • Pay in full: Varies***
  • Automatic payment: Varies

With so many discounts, it’s easy to see why Progressive advertises average savings of $700 per year.

(***Based on our experience obtaining quotes for this review, the pay-in-full discount averages between 10% and 15% of the annual premium. We did not reflect this discount in the quotes we’ve presented.)

Sample Premiums

To provide reasonable estimates of Progressive car insurance premiums, the table below presents annual premiums for four drivers under six scenarios each. We’ve obtained these through direct quotes from the Progressive website.

Three quotes are based on liability amounts. Liability limits are expressed in a three-number sequence that looks like XX/XX/XX. The first number in the sequence is the amount of coverage for an injury to one person in an accident that’s determined to be your fault. The second number is the coverage limit for all injured parties in a single accident, while the third is coverage for property damage to other people’s property.

The limits we’ve used in our table are as follows:

  1. 30/60/25 (the minimum coverage allowed in Texas)
  2. 50/100/50
  3. 100/300/100

In addition, the table also presents each liability coverage amount with uninsured and underinsured motorists, as well as collision and comprehensive coverage added to the basic liability policy.

We got quotes for four individual driver profiles, including a 23-year-old male, a 23-year-old female, a 53-year-old male, and a 53-year-old female. All four live in suburban Houston, Texas (Zip Code 77380), and drive a 2018 Toyota Camry 12,000 miles per year. None of the drivers has a moving violation or at-fault accident claim in the previous three years.

For simplicity’s sake, each driver is single, rents their home and has a college degree.

Here are the results:

Coverage / Driver Profile Male, 23 Female, 23 Male, 53 Female, 53
State Minimum – 30/60/25 – Liability Only $552 $522 $370 $364
With Un/Under-insured Motorist and Collision & Comprehensive $1,356 $1,226 $838 $838
50/100/50 – Liability Only $588 $556 $400 $390
With Un/Under-insured Motorist and Collision & Comprehensive $1,432 $1,314 $970 $892
100/300/100 – Liability Only $654 $616 $436 $422
With Un/Under-insured Motorist and Collision & Comprehensive $1,548 $1,444 $1,012 $912
These are simplified quotes. For example, each driver’s credit history is not considered. Neither are certain optional coverages, like car replacement rental, roadside assistance, or GAP coverage for the payoff of a loan or lease.

Who Progressive Is Best For

There is no single car insurance company that is best for all drivers. But Progressive may be the right choice for you if any of the following apply:

  • Progressive is the lowest-cost provider in your state for your driver profile.
  • You participate in ridesharing activities.
  • You have a family with multiple drivers and vehicles that will qualify for several volume discounts.
  • You’re the type of consumer who is not fond of company solicitation, and you like the idea of the all-online quote system and application process.
  • You are over 40, where Progressive offers some of the lowest premiums in the industry, likely due to family volume discounts.

Progressive vs. Other Car Insurance Companies

The table below compares Progressive with three of the most popular auto insurance providers in the country: Geico, State Farm, and Allstate. We’ve used side-by-side comparisons of three popular coverage levels, as well as the claims satisfaction and financial strength rating for each company.

This is a high-altitude comparison only. Which company will work best for you will depend on your own driver profile, your state of residence, and the specific needs and preferences you have for your policy.

Category / Company Progressive Geico State Farm Allstate
Average Annual Premium: State Minimum $516 $464 $500 $756
Average Annual Premium: 50/100/50 with Collision & Comprehensive $1,106 $1,006 $1,190 $1,754
Average Annual Premium: 100/300/100 with Collision & Comprehensive $1,346 $1,222 $1,380 $2,140
J.D. Power Claims Satisfaction Rating 856/1,000 871/1,000 881/1,000 876/1,000
A.M. Best Financial Strength Rating A+ (Superior) A++ (Superior) A++ (Superior) A+ (Superior)
(SOURCE ON PREMIUMS: Average Cost of Car Insurance in 2021 from The Zebra)

What To Know About Auto Insurance

When shopping for car insurance, it’s common to make the lowest premium the most important consideration. But there’s a lot more to car insurance than premium.

  1. Make sure you are adequately covered — the liability limits in your policy should roughly match your net worth. State minimum coverage will be inadequate if your net worth is several hundred thousand dollars.
  2. Car insurance companies consider your credit score — the higher it is, the lower your premium.
  3. Don’t skimp on coverage options — optional provisions like GAP or uninsured/underinsured motorists are inexpensive compared to the benefit they provide.
  4. A large deductible can lower your premium — but it can put you in a financial bind if you won’t have the cash available to cover it.
  5. Ask each company about all discounts they have — not all are published, and there may be more that will apply to you.
  6. Shop, shop, shop — get quotes from at least three or four companies to evaluate coverage and cost.

Progressive Home Insurance

This is Progressive’s most significant secondary product line, as combining it with an auto insurance policy triggers the bundling discount.

Progressive’s home insurance isn’t a single product line, but several. They provide coverage, not only for owners of detached homes, but also condominiums and mobile homes. In addition, Progressive also provides renters insurance. Any of these policies will qualify for the bundling discount with a car insurance policy.

Unlike car insurance, Progressive isn’t the issuer of home insurance policies. Instead, your policy will be issued by a home insurance company that partners with Progressive. The company currently uses ASI as this home insurance partner.

Even though home insurance will be provided by outside carriers, the home and auto bundle will still apply.

Availability: Progressive home insurance is available in all 50 states and the District of Columbia.

Basic Home Insurance Coverage

Progressive home insurance policies provide the following basic coverage types:

Dwelling. Pays to repair or rebuild your home, condo, or mobile home, and other structures damaged or destroyed by natural disasters. Most hazards will be covered, but specific exclusions include floods, earthquakes, landslides, mudslides, and sinkholes. You’ll need a dedicated policy for each of these.

Temporary living expenses. Provides coverage for temporary living expenses while your home, condo, mobile home, or apartment is being repaired. This is sometimes known as “loss of use” coverage.

Liability. Much like the liability portion of a car insurance policy, this provision covers you if someone is injured on your property, or if you’re considered to be responsible for damage to their property. Think of it as the slip and fall portion of your policy. It can also cover you against other potential liabilities, like libel and slander.

Personal property. This portion of a policy covers the contents of your home. That includes furniture, electronics, appliances, exercise equipment, tools, and personal effects, among other possessions. If they are damaged or destroyed, this provision will provide reimbursement to enable you to replace those items.

The above provisions are covered in a standard home insurance policy. Optional provisions include:

Medical payments. Will pay if someone is injured in your home or on your property.

Water backup. This provision pertains to backups involving sump pumps and sewer systems. It will cover damage caused to your home and possessions from the backup. This is different from flood insurance, which results in water damage from natural events.

Personal injury. This goes beyond the standard liability provision because it covers uncommon, but expensive, lawsuits and situations. Examples include slander or libel lawsuits, lawsuits against you for wrongful entry or malicious prosecution, wrongful eviction, and false arrest, detention, or imprisonment.

Home Insurance Discounts

Progressive’s home insurance discounts are similar to those available for car insurance, and include:

  • Bundle home and auto – 5% average savings.
  • Safety and alarm discounts – includes burglar and fire alarms, automatic sprinklers, cameras, and security systems.
  • Quote in advance – at least 10 days before your policy starts.
  • New purchase – this means either purchasing a new home or converting from a current renters policy; the home does not have to be newly built.
  • Received documents by email
  • New home construction – the newer the home, the bigger the discount.
  • Pay in full – paying a 12-month policy up front.

When you bundle home and auto policies, you can set up a single deductible between the two. That means a single deductible will apply each year, whether the claim is for your home or your car. The single deductible feature is only available with certain home insurance companies Progressive works with.

You can also save money by using a contractor with an established relationship with the home insurance carrier. This may result in a lower price than you would pay if you selected your own contractor.

Progressive Home Insurance Ratings & Average Premium

Progressive does not score well when it comes to home insurance ratings, though it is one of the lower-cost providers.

  • Claims satisfaction: According to the JD Power 2021 US Property Claims Satisfaction Study, Progressive/ASI ranks #14 out of 20 companies providing home insurance nationwide. They score 879 out of the potential 1,000 points, which is below the industry average of 883.
  • Financial strength rating: A+ (Superior).
  • Average homeowner’s insurance premium: $1,740 per year (SOURCE: The Zebra)

How to Sign Up with Progressive Home Insurance

Just as with Progressive car insurance, you’ll complete the application process for home insurance online. If you prefer, you can call a toll-free number to get more specific information.

Other Services Offered by Progressive

Though car and home insurance are Progressive’s main product lines, they also offer the following:

  • Business insurance
  • Business owner’s policy
  • Commercial auto insurance
  • General liability
  • Professional liability
  • Worker’s compensation
  • Health, dental, and vision insurance
  • Electronic device coverage
  • Life insurance
  • Pet insurance
  • ID theft insurance
  • Travel insurance
  • Umbrella insurance
  • Wedding and event insurance

If any of the above situations apply to you, you may want to discuss it with a Progressive representative when purchasing your auto insurance policy, or if you already have a policy in place.

The Bottom Line

Progressive is one of the largest auto insurance companies in the country, covering more than 13% of all drivers. Despite the below average customer service ratings the company receives, it’s obvious millions of consumers are choosing Progressive because of its advantages. The low premium structure in many states, as well as the large number of discounts, are major reasons why.

When shopping for car insurance, be sure to get quotes from several providers. Everyone’s situation is different, and you may find the best combination of coverage and low premium with a company not necessarily known for cheap rates.

But when you’re shopping for those quotes, Progressive should be one of the choices. They have what may be the easiest, obligation-free quote systems in the industry, one that you should take advantage of when looking for a policy.

Progressive FAQs

Is Progressive good car insurance?

Progressive rates a little below average on claims satisfaction, but it has a strong financial strength rating, indicating a solid ability to pay claims. In most states, it’s one of the two or three lowest-cost car insurance providers. They accomplish this by offering one of the widest selections of discounts available in the industry. They also offer important niche options, like rideshare coverage.

Is Progressive the cheapest insurance?

In most states, Progressive is one of the two or three lowest-cost auto insurance companies. But that’s not true in all states.

Why is Progressive insurance so cheap?

Progressive tends to be the one of the cheapest car insurance companies because it offers so many discounts. Meanwhile, the Name-Your-Price Tool enables drivers to select a premium level, then have a policy built around that rate. This makes it easier to get a low premium from Progressive.

The company also operates entirely online, which means its operating costs are lower than insurance companies that have networks of branch offices and a large number of agents.

The post Progressive Auto Insurance Review appeared first on Good Financial Cents®.

Source: goodfinancialcents.com

MetLife Auto Insurance Review

MetLife is perhaps best known for providing life insurance, but auto insurance is also available, and we found with our proprietary SimpleScore that this insurance carrier has a lot to offer. With a 4 out of 5 in claims satisfaction, and a 5 out of 5 with coverage options, MetLife is more than competitive. However, […]

The post MetLife Auto Insurance Review appeared first on The Simple Dollar.

Source: thesimpledollar.com

How Gaps in Coverage Affect Auto Insurance Rates

A lapse in coverage increases your risk and your rates. It may be harder to find suitable and affordable car insurance and may mean that you need to make some sacrifices in order to keep those insurance premiums at an affordable level. But it’s not a complete disaster and is far from the worst thing you can have on your record.

What is a Gap in Coverage?

A lapse or gap in coverage is a period in which you were not insured. You owned a car during this period but you didn’t meet the state minimum insurance requirements.

In some cases, a gap in coverage can be the result of negligence on your part. You may have allowed your insurance policy to lapse without purchasing a new one or it may have been canceled because you failed to meet your payment obligations.

A lapse in auto insurance coverage can also occur when you are deployed, sent to prison or because you simply didn’t drive during that period. 

If you fall into the first group, your insurer will notify the Department of Motor Vehicles (DMV), telling them that your car insurance policy has lapsed and you are no longer insured. This will expose you to fines and a host of other problems (see our guide on the penalties imposed on uninsured drivers).

As for members of the military, they can suspend their car insurance coverage when they are on active duty, thus avoiding any rate increases and other problems. The same applies to students studying abroad, although in their case, they will need to contact their DMV first.

What Happens Following a Car Insurance Lapse?

Many states require you to have continuous insurance, which means your auto insurance policy has not lapsed for any period of time. As soon as it lapses, your license and registration may be revoked, and you will need to pay a fee to have these reinstated. These fees, as they apply in each state, are listed below, but it’s worth noting that you may also be hit with additional court fees and fines if you are found to be driving without insurance:

  • Alabama: Insurance Lapse Fee = $200 (first offense); $400 (second offense)
  • Alaska: Insurance Lapse Fee = $100
  • Arizona: Insurance Lapse Fee = $50
  • Arkansas: Insurance Lapse Fee = $50
  • California: Insurance Lapse Fee = $14
  • Colorado: Insurance Lapse Fee = $40
  • Connecticut: Insurance Lapse Fee = $200
  • Delaware: Insurance Lapse Fee = $100 + $5 a day
  • D.C.: Insurance Lapse Fee = $150 + $7 a day
  • Florida: Insurance Lapse Fee = $150 (first offense); $250 (second offense); $500 (third offense)
  • Georgia: Insurance Lapse Fee = $25
  • Hawaii: Insurance Lapse Fee = $20+
  • Idaho: Insurance Lapse Fee = $85
  • Illinois: Insurance Lapse Fee = $100
  • Indiana: Insurance Lapse Fee = $150 (first offense); $225 (second offense); $300 (third offense)
  • Iowa: Insurance Lapse Fee = N/A
  • Kansas: Insurance Lapse Fee = $100 (first offense); $300 (second offense)
  • Kentucky: Insurance Lapse Fee = $40
  • Louisiana: Insurance Lapse Fee = $125 to $525 (depending on length of gap)
  • Maine: Insurance Lapse Fee = Up to $115
  • Maryland: Insurance Lapse Fee = $150 + $7 per day
  • Massachusetts: Insurance Lapse Fee = $500
  • Michigan: Insurance Lapse Fee = $75
  • Minnesota: Insurance Lapse Fee = $30
  • Mississippi: Insurance Lapse Fee = $30
  • Missouri: Insurance Lapse Fee = $20 (first offense); $200 (second offense); $400 (third offense)
  • Montana: Insurance Lapse Fee = N/A
  • Nebraska: Insurance Lapse Fee = $500
  • Nevada: Insurance Lapse Fee = $251 to $1,000 (depending on length of gap)
  • New Hampshire: Insurance Lapse Fee = N/A
  • New Jersey: Insurance Lapse Fee = $100
  • New Mexico: Insurance Lapse Fee = $30
  • New York: Insurance Lapse Fee = $8 to $12 per day
  • North Carolina: Insurance Lapse Fee = $50 (first offense); $100 (second offense); $150 (third offense)
  • North Dakota: Insurance Lapse Fee = N/A
  • Ohio: Insurance Lapse Fee = $160 (first offense); $360 (second offense); $660 (third offense)
  • Oklahoma: Insurance Lapse Fee = $400
  • Oregon: Insurance Lapse Fee = $75
  • Pennsylvania: Insurance Lapse Fee = $88
  • Rhode Island: Insurance Lapse Fee = $30 to $50
  • South Carolina: Insurance Lapse Fee = $550 + $5 per day
  • South Dakota: Insurance Lapse Fee = $78 to $228
  • Tennessee: Insurance Lapse Fee = $115
  • Texas: Insurance Lapse Fee = $100
  • Utah: Insurance Lapse Fee = $100
  • Vermont: Insurance Lapse Fee = $71
  • Virginia: Insurance Lapse Fee = $145
  • Washington: Insurance Lapse Fee = $75
  • West Virginia: Insurance Lapse Fee = $100
  • Wisconsin: Insurance Lapse Fee = $60
  • Wyoming: Insurance Lapse Fee = $50

Will My Car Insurance Rates Increase Following a Gap in Coverage?

In addition to the fines mentioned above, you can expect your auto insurance quotes to be a little higher than before, although this all depends on how long the gap in coverage was.

If it was less than 4 weeks, the rate increase may amount to a few extra dollars a month. If it was longer than 4 weeks, you could find yourself paying 20% to 50% more, depending on your chosen car insurance company. 

The exact rate of increase will depend on the state, high-risk status, driving record, car insurance discounts, and age of the driver. Insurance is all about measuring risk and probable claims, and an insurance company will look at everything from marital status to DUI convictions when measuring your risk and underwriting your new policy.

Bottom Line: Getting Cheap Car Insurance Quotes After a Lapse

In our research, we found that Progressive, Esurance, and State Farm offered lower rates than GEICO, even though GEICO typically tops the charts when it comes to insurance costs. You should also get much lower auto insurance rates with providers like USAA, providing you qualify.

To save even more, maintain a high credit score, aim for those good driver discounts, and try to secure bundling discounts, which are provided when you combine multiple different insurance products, such as homeowners insurance and car insurance.

The car you drive is also key. A new car will generally lead to much higher rates than a car that is a few years old, as it will be more expensive to repair and replace.

However, a car that is a few decades old will cost more to insurance than one that is a few years old, as it may lack the safety features and anti-theft features needed to keep rates low.

 

How Gaps in Coverage Affect Auto Insurance Rates is a post from Pocket Your Dollars.

Source: pocketyourdollars.com

How To Get The Most Out Of Your Auto Insurance Coverage

Recent data suggests that the average driver will spend close to $100,000 on car insurance over their lifetime. That’s a staggering sum of money, especially when you consider estimates that suggest Americans will pay over $500,000 in that time just to own, operate, and maintain a car.

$100,000 is a lot of money to spend on something that you may never benefit from, something that you’re only buying because your state authorities told you too. But while car insurance policies are essential, the amount that the average consumer spends on them is not.

In this guide, we’ll look at the ways you can save money on auto insurance premiums and get the most value out of this necessary expense.

Build Your Credit Report

Never underestimate the value of a high credit score and a clean credit report. Not only can it help when applying for a car loan, increasing the value of the car you can purchase and decreasing the interest rates you’re charged, but it will also reduce your car insurance rates.

There is no easy and quick way to turn a bad credit report into a good credit report, but there are a few simple changes you can make that could increase your score enough to make a difference. These include:

  • Stop applying for new lines of credit.
  • Become an authorized user on a respectable user’s credit card.
  • Increase credit limits on your active credit cards.
  • Pay off as much debt as you can, focusing on credit cards and personal loans first.
  • Don’t close your credit card accounts after clearing them.

If you don’t have any credit at all, which is true for many teen drivers getting behind the wheel for the first time, try the following options:

  • Credit builder loans
  • Secured credit cards
  • Lending circles

Choose Your Car Carefully

A new car is a great way to get a high-tech, customized vehicle, but it’s not ideal if you’re looking to save on insurance costs.

New vehicles cost more to insure because they are a greater liability, with more expensive parts and greater overall value. If you want to save on your auto insurance coverage, look for a car that is at least a few years old, has a number of safety features and a high safety rating.

The cheaper, the better, but only to a point. You want something that won’t leave you in complete financial ruin if it’s wrecked in a car accident and you don’t have the insurance to cover it, but something that won’t breakdown every few miles and leave you stranded and broke every other week.

Drive Safely and Prove Your Worth

Your driving record is just as important as your credit report, if not more so. The more at-fault accidents, traffic tickets, and insurance claims you have, the higher your car insurance rates will be.

A single conviction won’t last forever and the impact will eventually dissipate, so even if you have a few blemishes on your record now, just keep driving safely and you’ll be able to reap the benefits before long.

It takes time to prove your worth to insurance companies, but there are a few things you can do to expedite this process. The first is to take a defensive driving course. In some states and for some demographics (mostly seniors and young drivers), you’ll be offered a discount for completing one of these courses.

The next step is to consider a usage-based program. These are offered by most major insurance companies and can track your driving habits to determine what kind of driver you are. If you’re driving safe and doing very low mileage, you could start seeing some noticeable changes in just a few months. The majority of providers will even give you a discount just for signing up.

Pay Everything Upfront

Most policyholders pay their premiums monthly and it may seem like that’s the best thing to do. $100 a month seems infinitely more manageable than $1,200 a year. 

It is an attitude that many people have, and it’s one that often leads to debt and poor decisions.

Millions of Americans have credit card debt because a $200 monthly payment seems more achievable than a $5,000 payoff, even though the former carries a phenomenal interest rate. It’s also why countless first-time buyers rush into getting mortgages with small down payments and high-interest rates, even though doing so could mean they are paying twice as much money over the term.

Whenever you can benefit from making an upfront payment, do it. This is true for your loan debt and credit card debt, and it’s also true for your car insurance premiums.

Many insurance providers offer you an upfront payment discount of up to 5%. It doesn’t sound like much, but every little helps. If you have a $3,000 car insurance policy, that 5% adds up to $150. Add a few more discounts and you can save even more money and make an even bigger dent in your insurance rates.

Combine Policies and Vehicles

Insurance companies that offer multiple types of insurance tend to offer discounts when you purchase several products from them.

Known as multi-policy discounts or “bundling”, these offers are common with homeowners insurance and auto insurance, but they are also offered with renters insurance and life insurance.

You can combine several vehicles onto the same auto insurance policy, as well, saving much more than if you were to purchase separate policies.

These discounts are essential for multi-car households, but they are not limited to cars. Many insurers will also let you add boats, ATVs, motorcycles, and other vehicles onto the same policy.

Shop Around

Before you settle on a single policy, shop around, compare as many car insurance quotes as you can, try multiple different insurance options (uninsured/underinsured motorist coverage, comprehensive coverage, collision coverage) and make sure you’re getting the lowest rates for the best cover.

Too many drivers make the mistake of going with the same provider their friends or parents have; the same provider they have used for a number of years. In doing so, they could be missing out on huge savings. 

You could be forgiven for thinking that all providers offer similar rates and that the difference between them is minor. But regardless of your age, gender, and state, the difference between one provider and the next could be up to 200%!

Check if You’re Covered Elsewhere

Car insurance companies offer a number of add-ons and optional coverage options. These are enticing, as they cover you for numerous eventualities and some of them cost just a few dollars extra a month. But all of those dollars add up and could result in you paying much more than you need for cover you already have.

Roadside assistance is a great example of this. It will help you if you are stranded by the side of the road, assisting with services such as tire changes, fuel delivery, towing, and more. But if you have a premium credit card or are a member of an automobile club, you may already have that cover.

The same goes for rental car coverage, which is often purchased at the rental car counter. Although it has its uses, if you have an auto insurance policy, travel insurance, and a premium credit card, you’re probably already covered. In fact, many Visa credit cards offer this service completely free of charge when you use your Visa to pay the bill, but only if you reject the waivers sold by the rental car company.

Bottom Line: Best Auto Insurance Companies

​Car insurance coverage varies from state to state and provider to provider. There is no “best” company, as even the ones with consistently affordable rates will not be the best option in all states or for all demographics.

In our research, we found that GEICO was consistently one of the cheapest providers for good drivers, bad credit drivers, and even high risk drivers. GEICO also offers personal injury protection, collision insurance, medical payments, uninsured motorist coverage, and more, making them the most complete provider for the majority of drivers.

However, in some states, local farm bureaus come out on top, offering very cheap bodily injury liability coverage and property damage liability coverage, and giving policyholders a level of care and attention that they might not find with the bigger, national providers. USAA, which offers cheap car insurance to members of the military, also leads the way in the majority of states, but only for those who meet the criteria.

Simply put, there is no right insurance provider for you, just like there is no right coverage. That’s why it’s important to shop around, chop and change your coverage options, and don’t assume that any type of coverage or provider is right for you until you’ve looked at the numbers.

 

 

How To Get The Most Out Of Your Auto Insurance Coverage is a post from Pocket Your Dollars.

Source: pocketyourdollars.com