Progressive's 12-Month Auto Insurance Policies: Available Or Not?

Progressive offers a range of insurance options, including auto insurance. While the company does not explicitly mention 12-month auto policies, it is common for insurance companies to offer customers the option to pay their car insurance premium either monthly, every six months, or annually. Progressive's website also mentions that customers can save an average of 5% on auto insurance when they bundle it with another insurance product.

Progressive offers a range of insurance options, including auto insurance

Progressive offers a range of insurance options for various vehicles and situations. In terms of auto insurance, Progressive provides coverage for cars, motorcycles, RVs, boats, and more. You can also get specialised coverage for classic cars, e-bikes, and even auto insurance for driving in Mexico.

Auto insurance policies typically come with flexible payment options, allowing customers to pay their premiums monthly, every six months, or annually. The cost of auto insurance is determined by various factors, including your driving record, age, demographics, the type of car you drive, your mileage, and the coverage options you select.

Progressive also offers a range of additional insurance products beyond auto insurance. These include homeowners insurance, mobile home insurance, identity theft protection, wedding insurance, commercial auto insurance, and general liability insurance, among others.

By offering a diverse range of insurance options, Progressive aims to provide customers with peace of mind, ensuring that they are protected on the road, in their homes, and during their daily lives.

When considering auto insurance, it is worth noting that policies are typically offered in six-month or 12-month durations. While six-month policies are more common, some companies, including Progressive, may offer the option of a 12-month policy. This longer-term policy can lock in your insurance rate for a full year, providing stability and avoiding unexpected increases during that period. However, it is important to remember that a 12-month policy may not always result in lower rates, as insurance companies consider various factors when determining premiums.

Auto insurance policies are typically offered in 6- or 12-month durations

Flexibility

A 6-month policy offers more flexibility as it allows for more frequent reviews and adjustments to your rate. If you are a high-risk driver or have a clean driving record, this might be beneficial. If you are unhappy with your current insurance provider, a shorter policy term means you won't have to wait long for the renewal period to switch providers without incurring cancellation fees.

On the other hand, a 12-month policy locks in your rate for a full year, providing stability and predictability. You won't have to worry about rate revisions during the year unless you make changes to your policy, such as adding or removing a vehicle or driver.

Rate Revisions

With a 6-month policy, your rate can be revised twice a year, which can work in your favour if you improve your driving record or credit score. However, it can also lead to more frequent premium increases if there are negative changes to your record.

A 12-month policy offers the benefit of less frequent rate revisions, which means you won't have to worry about potential rate increases during the year. But if your driving record improves or you become eligible for discounts during the policy term, you'll have to wait until the end of the year for your rate to be adjusted.

Payment Options

Most insurance companies offer payment plans, allowing you to pay your premium in monthly installments or all at once. Paying in full can often lead to a discount. A 6-month policy may make it easier to pay in full, as you are paying for a shorter coverage period.

Availability

While most insurance companies offer 6-month policies, 12-month policies can be harder to find. Some companies only offer 12-month policies to certain customers, such as those with a clean driving record. You may need to specifically request a 12-month policy during the quoting process, as many companies default to 6-month policies.

Cost

The cost of a 6-month policy, when paid in full, is typically lower due to the shorter coverage period. However, if you are paying month-to-month, there may not be a significant difference in price between a 6- and 12-month policy. The average cost of auto insurance is generally not heavily impacted by the policy term length.

Renewal Dates

With a 6-month policy, you will have to keep track of twice as many renewal dates, which can be challenging. You may also be more likely to forget a payment and cause a lapse in coverage. A 12-month policy simplifies budgeting and reduces the risk of missing payments.

Discounts

With a 6-month policy, you may lose discounts sooner if you are no longer eligible when the policy term ends. A 12-month policy locks in your discounts for a full year.

When deciding between a 6- or 12-month auto insurance policy, consider your driving record, financial situation, and preference for flexibility or locked-in rates. Both options have their advantages and disadvantages, so it's important to review your priorities and choose the duration that best suits your needs.

Progressive provides specialised coverage for boats and watercraft

Progressive offers specialised coverage for boats and watercraft, with over 35 years of experience in the field. Their policies cover a wide range of vessels, including bass and fishing boats, personal watercraft (PWC), and boats with sails or motors.

Progressive's boat insurance provides comprehensive protection for watercraft owners, including standard and optional coverages. The standard coverages include full replacement cost, where Progressive will pay to restore a damaged watercraft to its pre-accident condition or better. This coverage extends to motors and other equipment, ensuring that depreciation costs are not borne by the policyholder. Progressive also provides liability coverage for bodily injury and property damage, including fuel spills, and will cover the cost of removing a sunken boat if legally required.

Additionally, Progressive offers specialised coverages such as water sports coverage, which protects against injuries or damages caused by activities like tubing and wake boarding. They also offer total loss replacement for new boats, Sign & Glide® on-water towing services, and coverage for fishing equipment, carry-on items, and mechanical breakdowns.

Progressive's boat insurance is available for as little as $100 per year, and they provide coverage for watercraft valued up to $500,000 and up to 50 feet in length. Their policies offer flexibility, allowing boaters to operate in any lake or river in the US and Canada, as well as coastal waters within 75 miles of the coast.

In summary, Progressive's specialised boat and watercraft insurance provides comprehensive protection, optional coverages, and flexibility for watercraft owners, ensuring peace of mind and financial security while enjoying their vessels.

The company also offers Mexico auto insurance through a broker

Progressive offers a variety of insurance options, including Mexico auto insurance. This policy is obtained through a broker and provides coverage for drivers who plan to drive in Mexico. It is important to note that auto insurance policies typically have a duration of either six or twelve months, with most companies offering the former. A twelve-month policy is less common and may require a specific request to the provider.

The main advantage of an annual policy is the ability to lock in a rate for a full year, providing protection against unexpected rate increases. This can be beneficial if you anticipate your rates increasing due to various factors, such as accidents or changes to your driving record. However, it is important to consider the potential drawbacks of a twelve-month policy. They can be more challenging to find, and you may need to meet certain eligibility requirements, such as having a clean driving record for a specified period. Additionally, a locked rate for an extended period may not always result in lower rates, as insurance companies consider other factors like age and driving history.

The decision between a six-month and a twelve-month policy depends on your specific needs and situation. A six-month policy offers more flexibility, allowing for rate adjustments every six months. On the other hand, a twelve-month policy provides the security of a locked rate but may result in paying higher rates for a longer duration if your driving record improves during that period. It is always recommended to shop around, compare quotes, and choose a policy that best suits your circumstances.

Progressive's auto insurance includes mechanical breakdown cover

Progressive offers a range of insurance products to meet your specific needs, including auto insurance. While Progressive does not offer 12-month auto insurance policies, most insurance companies let you choose between paying your car insurance premium monthly, every six months, or annually.

Mechanical Breakdown Insurance

Mechanical breakdown insurance (MBI) is designed to protect your car, truck, or RV from unexpected repairs and breakdowns. It is a more comprehensive alternative to an extended vehicle warranty, as it covers sudden and unexpected breakdowns beyond what is typically covered by a manufacturer's warranty.

• Comprehensive Coverage: MBI covers major components for sudden, unexpected mechanical failures for the full length of your coverage term. This differs from vehicle warranties, which may only protect certain parts for specific time periods and only cover manufacturing-related failures.
• Any Service Provider: With MBI, you can get your vehicle repaired anywhere in the US or Canada, without being restricted to specific dealerships or service providers. This flexibility ensures you can get repairs done conveniently, no matter where you are when a breakdown occurs.
• Reimbursement for Added Expenses: If your vehicle breaks down while you're on the road, MBI provides reimbursement for meal and hotel expenses of up to $100 per day for five days, as well as rental car cost reimbursement of up to $60 per day for the same time period if your vehicle can't be driven.
• Flexible Deductible and Payments: When purchasing MBI, you can choose a deductible that fits your budget, ranging from $100 to $500. Additionally, MBI offers the convenience of pay-as-you-go monthly payments or annual payments, without the high upfront cost associated with extended warranties.
• Protection Beyond the Warranty Period: MBI provides coverage for breakdown-related repairs even after your manufacturer's warranty has expired or when your vehicle warranty doesn't cover a mechanical failure.
• Parts and Labor Included: MBI covers both parts and labor for all covered repairs. If you choose to have non-covered work done simultaneously, you simply pay for those additional costs out of pocket.
• No Required Inspection: There is no inspection required to activate your MBI plan, although pre-existing issues won't be covered.

Additional Benefits of Progressive Auto Insurance

In addition to the option of mechanical breakdown insurance, Progressive auto insurance offers several other benefits:

• Guaranteed Repairs: Progressive guarantees repairs for as long as you own or lease your vehicle when you use one of their network shops.
• Boat Insurance: Progressive offers boat insurance that includes on-water towing, fuel spill removal, mechanical breakdown coverage, and more. You can enjoy peace of mind while boating on any lake, river, or ocean waters within 75 miles of the coast.
• Discounts and Savings: Progressive provides various discounts and savings opportunities, such as a multi-policy discount when you bundle auto and property insurance or combine auto and condo/renters insurance.

Frequently asked questions