Progressive Name Your Price Review
Progressive Name Your Price claims you can choose your own insurance rate, but in reality, this is just another example of a somewhat misleading insurance advertisement. Our Progressive Name Your Price review finds that naming your own price doesn’t mean you're getting the coverage that best suits you. Read our review to learn more and use our free comparison tool below to find affordable insurance quotes from multiple companies.
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UPDATED: Jan 31, 2021
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You’ve probably heard or seen the “Progressive Name Your Price” advertisement that claims you can choose your own insurance rate.
So is it fact or fiction?
Oddly enough, the answer is a little of both, though it depends on how accountable you hold a billion dollar insurance corporation for its advertising claims.
I suppose you’re “technically” choosing your own price because you physically enter a monthly dollar amount for coverage, which in-turn, will raise or lower your insurance premium.
But in reality, this is just another example of a somewhat misleading insurance advertisement, similar to the “switch and save” and “15 minutes can save you 15%” ads we’re accustomed to seeing every day.
First off, naming your own price doesn’t mean your getting the coverage that best suits you, it just means you’re entering a desired dollar amount and ending up with whatever Progressive will offer for that price.
That probably isn’t the best way to ensure you’re properly covered…check out our auto insurance checklist to see what you might need.
Second, almost every car insurance company in the nation allows you to pick your coverage types and liability limits based on what they offer. It appears Progressive Insurance is touting the ability to click a button versus speaking to an agent.
I can’t find another company selling insurance online that doesn’t allow you to choose your own coverage types and limits. In fact, if an insurer or an agent doesn’t explicitly make you aware of your options, they can get into trouble in the event of an insurance claim.
This is how consumers are guaranteed not to be charged an unfair or discriminatory rate for coverage.
On the flip side, it also means Progressive isn’t necessarily “making it up” to suit your individual needs.
When it comes down to it, your final premium from Progressive can only be manipulated by changing liability limits, picking up or dropping coverage, or applying discounts (which are given to you as you answer questions online).
There is no magic insurance wand here. No favors. No special deals. No different than anybody else.
Cool Little Widget
They’ve just got a cool little widget that allows you to enter a monthly payment and match you with a program that fits your budget.
At the same time, there’s also no option for price matching with other insurer’s premiums. I guess that is what I would consider the ability to really name my price.
It’s worth pointing out that Progressive does have one of the sleekest websites out there, along with a ton of available discounts.
They are known industry-wide for their uncanny ability to spend unlimited amounts of money to make insurance easy to buy online or through an independent agent.
Of course, a large advertising budget has to be paid for somehow…and in this case it’s through selling insurance…and not necessarily at the lowest price.
The best way to ensure you’re getting the best coverage at the lowest price is to shop with an independent insurance agent.
Most agents will give you a Progressive quote along with quotes from a number of other companies, so this is the best way to really name your price.