Progressive: Auto And Renters Insurance Bundles

Progressive offers customers the option to bundle their auto insurance with renters insurance, which can be a convenient and cost-effective way to manage their insurance policies. By bundling these policies, customers can earn a multi-policy discount on their auto insurance, saving an average of 3% to 5% on their car insurance rates. This discount is applied to the auto policy and can be combined with other policies such as motorcycle, boat, or RV insurance. Progressive also offers various other discounts, such as paying the policy in full upfront, paperless billing, and early quoting, to help customers save on their renters insurance.

Progressive's multi-policy discount

Progressive offers a multi-policy discount for customers who bundle their auto insurance with renters insurance. This discount is applied to the auto policy and saves customers an average of 3% on their car insurance. Progressive also offers a multi-policy discount for bundling auto insurance with home or condo insurance.

Progressive makes it easy to earn renters insurance discounts, and there are a variety of ways to save on your renters insurance policy. For example, you can save money by paying your policy upfront and in full, opting for paperless billing, or getting a quote at least three days before your policy starts.

In addition to the multi-policy discount, Progressive offers a single deductible benefit for customers who bundle renters and auto insurance. This means that if a single event causes a loss for which both auto and renters policies apply, only one deductible may be charged.

Progressive also offers multi-policy discounts for bundling two or more other policies, such as motorcycle/boat, boat/RV, or renters/motorcycle/boat.

Pros and cons of bundling

Progressive offers a multi-policy discount for customers who bundle home, auto, renters, motorcycle, and other types of insurance. Progressive customers can save an average of 5% on auto insurance when they bundle.

Pros of bundling insurance:

• You can save money by taking advantage of multi-policy discounts.
• It's more convenient to manage just one insurer, one bill, and one app.
• You may be able to combine deductibles if you need to file a claim on both policies.
• You only need to make payments to a single company, making it easier to keep track of payments.
• Having all your insurance policies in one place can make it easier to manage, including checking coverages, updating coverages, asking questions about your policies, finding insurance documents, and even filing claims.

Cons of bundling insurance:

• The savings might not be worth switching insurers, especially if you like your current provider and policy terms.
• It could stop you from shopping around for better deals.
• Bundling your insurance may be time-consuming.
• It may not be convenient if your car insurer partners with a different renters insurance company for a bundling discount, as you may not be able to manage both policies from a single account.
• It may not meet your coverage needs.

Discounts for renters insurance

Renters insurance is a necessity, but that doesn't mean it has to be expensive. Many insurance companies offer discounts and incentives to help lower the cost of your premium. Here are some ways you can save on your renters insurance:

Bundling Discounts

One of the most common ways to save on renters insurance is by bundling it with other insurance policies. Many companies, including Progressive, State Farm, and Nationwide, offer discounts when you combine renters insurance with auto insurance or other types of insurance policies. By bundling your renters and auto insurance, you can save an average of 3% on your premium, and you may also benefit from a single deductible for certain incidents that affect both your car and your rented property.

Early Shopping Discount

If you get a quote for renters insurance before your current policy expires, some insurance providers may offer you a discount when you switch to their policy. This is known as an early shopper or early quote discount.

Payment Discounts

You can also save on your renters insurance by choosing a preferred payment method. Some companies offer discounts for enrolling in automatic payments linked to your bank account. Additionally, paying your policy upfront in full may qualify you for a discount.

Paperless Discount

If you're comfortable receiving your insurance documents via email, you may be eligible for a paperless discount. This not only saves the insurance company money on printing and postage but also helps reduce paper waste.

Security and Safety Discounts

Insurance companies may offer discounts if you live in a secured or gated community with controlled access. Additionally, installing qualifying home security devices, such as smoke detectors, fire alarms, burglar alarms, or other home monitoring systems, can often lead to premium discounts on your renters insurance.

Claim-Free Discounts

If you have not filed a claim with your previous insurance carrier for a certain number of years (usually five or more), some insurance companies will reward you with a lower premium.

Profession-Based Discounts

Some insurance providers, like Farmers Insurance, offer discounts to business professionals in specific fields. Doctors, nurses, engineers, dentists, teachers, police officers, and firefighters may be eligible for special money-saving discounts.

Smoke-Free Discounts

Insurance companies may offer incentives for households that have been smoke-free for a certain period, usually at least two consecutive years.

Remember that the availability and amount of discounts may vary by insurance provider and state. Be sure to ask your insurance agent about specific discounts you may qualify for and how you can take advantage of them.

Benefits of bundling

Progressive offers customers the option to bundle their auto and renters insurance. This is a convenient way to save money and manage multiple insurance policies. Here are some benefits of bundling:

Discounts and Savings

Bundling your auto and renters insurance with Progressive can lead to significant savings. Progressive offers a multi-policy discount, allowing you to save an average of 3% on your overall insurance costs when you bundle renters and auto insurance. New customers who bundle home and auto insurance can save over 20% on average. Additionally, you can save an average of 5% on your auto insurance when you bundle it with renters insurance.

Streamlined Policy Management

With bundling, you only need to manage a single insurer, one bill, and one app, making it more convenient and efficient. You can easily access and manage all your policy documents in one place, and there is less paperwork to deal with. This simplifies the process of checking coverages, updating coverages, asking questions, finding insurance documents, and even filing claims.

Flexibility

Progressive offers flexibility as your insurance needs change over time. They can help you transition from renter to homeowner or single driver to multi-car family, ensuring that your insurance coverage adapts to different stages of your life.

Single Deductible Benefit

In certain situations, bundling can provide the benefit of a combined deductible. For instance, if your car is stolen along with some belongings from the trunk, you would typically pay a deductible for both your auto and renters insurance claims. However, with Progressive, if your auto policy is bundled with an ASI renters policy, you may only need to pay a single deductible, resulting in cost savings.

Convenience

Having all your insurance policies under one roof at Progressive provides convenience and ease of management. You can save time by paying premiums in one bill instead of managing separate payments. Additionally, you can take advantage of Progressive's day-and-night customer support for any questions or concerns that may arise.

How to add renters insurance to an existing Progressive policy

Yes, you can add renters insurance to an existing Progressive policy. Progressive offers renters insurance for anyone renting an apartment, home, or condominium.

Here's a step-by-step guide on how to add renters insurance to your existing Progressive policy:

• Contact Progressive: You can reach out to Progressive by calling their customer service number at 1-888-671-4405. Their customer support team will guide you through the process of adding renters insurance to your existing policy.
• Online Chat with an Agent: Alternatively, you can visit the Progressive website and connect with one of their agents via online chat. They will assist you in adding the renters insurance coverage to your current policy.
• Provide Necessary Information: During the process, you will need to provide information about your rental property, such as the address, the type of residence (apartment, home, or condo), and the value of your personal belongings.
• Review Coverage Options: Progressive offers standard renters insurance coverages, including personal property, loss of use, personal liability, and medical payments to others. You can discuss with the agent to understand the coverage options available to you and choose the ones that best suit your needs.
• Compare Quotes and Discounts: Before finalizing the addition of renters insurance to your policy, be sure to compare quotes from Progressive and other companies. Progressive offers various discounts when bundling renters and auto insurance, such as a 3% average discount on auto insurance.
• Finalize and Purchase: Once you have reviewed the coverage options, discounts, and compared quotes, you can finalize the addition of renters insurance to your existing Progressive policy by agreeing to the terms and making the necessary payments.

By following these steps, you can easily add renters insurance to your existing Progressive policy and take advantage of the benefits of bundling your insurance coverage. Remember to review your coverage periodically to ensure it meets your changing needs.

Frequently asked questions