July 6, 2022
  • July 6, 2022

Progressive vs AAA | The bank rate

By on June 25, 2021 0

Progressive Insurance is the third largest auto insurance company in the country, with 13% of the total market share. Progressive was founded in 1937 and is headquartered in Mayfield, Ohio. The company serves more than 18 million customers across the country through its line of personal and business insurance products.

The American Automobile Association, better known as AAA, provides insurance benefits through the Auto Club Enterprises insurance group. It is the eleventh largest auto insurer, with 1% of the total market share. You don’t need to be an AAA member to purchase AAA insurance, but members are eligible for special insurance discounts and access to other benefits.

Progressive vs AAA: comparison of auto insurance rates

Progressive and AAA both have good third party ratings for financial strength and overall customer satisfaction. In terms of pricing, AAA is slightly more expensive than Progressive, but auto insurance premiums are personalized for each driver. In the table below, we’ve highlighted the third-party ratings and average annual bonuses for Progressive vs AAA.

Auto insurance company Discount rate AM Best JD Power Average annual premium for minimum coverage Average annual premium for full coverage
Progressive 4.1 A + 856/1000 $ 582 $ 1,509
AAA 3.8 A- 858 / 1,000 $ 602 $ 1,990

Rates by credit score

When you apply for an auto insurance policy, the insurance company may perform a credit check and use your credit score to determine your premium. The only exception is if you live in Hawaii, California, Washington, Massachusetts, or New Jersey, where auto insurance companies are no longer allowed to factor your credit score into your rate. The table below includes the national average premiums for drivers based on their credit score.

Credit score Poor Average Good Excellent
national average $ 3,873 $ 1,865 $ 1,674 $ 1,487

Rates by age

Teenage drivers pay the highest auto insurance premiums because they lack experience on the road. In addition, data shows that young drivers are the most likely to have accidents. The following table illustrates the average annual premiums for drivers by age from AAA versus Progressive.

Auto insurance company 16 years old* 18 years old 25 years 30 years 40 years 60 years
Progressive $ 1,955 $ 6,287 $ 1,796 $ 1,668 $ 1,509 $ 1,302
AAA $ 3,210 $ 5,446 $ 2,317 $ 2,034 $ 2,025 $ 1,157

* Cost 16 years old when added to parents policy, 18 year old tenant

Rates per driving record

One of the main factors that will impact your auto insurance rate is your driving record. Drivers with a history of offenses or accidents generally pay the highest rates. In the table below, you can see the average annual premium for full coverage insurance from Progressive vs AAA for drivers with a clean criminal record, a speeding ticket, an accident and a DUI.

Auto insurance company Blank driving record Speeding Accident Conviction for driving while intoxicated
Progressive $ 1,509 $ 1,826 $ 2,231 $ 1,933
AAA $ 2,003 $ 2,947 $ 3,057 $ 5,613

Progressive vs AAA: discounts

If you want to save money on your premium, look for insurance companies that offer discounts on auto insurance. Progressive and AAA both offer great discounts, but the savings available are vendor-specific. Here are some of the auto insurance discounts you can get from Progressive vs AAA.

Progressive

  • Continuous insurance discount – When you switch to Progressive from another company, you can benefit from a discount depending on the length of time you were insured with your former provider.
  • Owner discount – Homeowners can save an average of 10% on their premium just by owning a home, even if Progressive is not their home insurance provider.
  • Discount on snapshots – Drivers who enroll in Progressive’s Snapshot Safe Driver Rewards Program can save an average of $ 146 on their premium by demonstrating their safe driving skills.

AAA

  • AAA member discount – Drivers who have an active AAA membership can get a discount on their auto insurance policy.
  • Discount on vehicle safety features – If your vehicle is equipped with advanced security features, such as anti-lock brakes or an anti-theft device, you may qualify for a discount.
  • Policy bundle discount – AAA offers discounts to drivers who bundle their auto and home, tenant or condo insurance policies.

Progressive vs AAA: comparison of the online and mobile experience

Comparing AAA to Progressive, we found that Progressive offers a better online experience overall. You can get a quote online, access a variety of tools and resources, and easily find the information you are looking for.

Because AAA sells insurance through locals, you should visit your state’s AAA website to find out what type of policies are available in your area and to get a quote. During our research, we noticed that some states have better websites than others.

In addition, Progressive and AAA offer a free mobile application accessible on an Android or iOS device. Progressive’s app is clearly the winner here, as the AAA app doesn’t give you access to insurance policy information. Here’s a closer look at the AAA vs Progressive mobile app.

Progressive

  • App Store (3.5 stars) – Using the Progressive iOS app, you can download digital ID cards, report a new claim, track the status of existing claims, request roadside assistance, and build a new claim quote. insurance. Although this app does not have the highest ratings, most of the reviews come from customers complaining about the company itself.
  • google play (4.1 stars) – Progressive’s app for Android devices has all the same functionality as the iOS app. You can get roadside assistance, report a loss, update your policy, and more. Drivers enrolled in the Snapshot program can also track their progress and savings through the Android mobile app.

AAA

  • App Store (4.2 stars) – AAA’s iOS app has good ratings, but the app doesn’t have a lot of insurance-related features. You can request roadside assistance, find hotels and gas stations in your area, book a rental car, access your membership card and more. Unlike the Progressive app, you cannot access your insurance policy, file claims, or make changes to your policy.
  • google play (4.1 stars) – The AAA app for Android devices is also highly rated and has the same functionality as the iOS app. You won’t be able to access your insurance policy information, so this app is best suited for people who want to find nearby hotels, rental cars and gas stations that offer discounts to AAA members.

Frequently Asked Questions

How much does auto insurance cost?

The average cost of auto insurance in the United States is $ 1,674 per year for a comprehensive insurance policy, which includes liability, collisions, comprehensive coverage, and medical payments. However, keep in mind that you may be paying more or less than average depending on personal factors like your age, condition, and credit score.

What is the best auto insurance company?

The best auto insurance company varies because it is different for everyone. Some vendors are known to offer low rates, some have great customer service, and others offer generous discounts. The best company for you is the one that can offer the type and amount of coverage you need at the lowest price.

How Much Car Insurance Do I Need?

Each state has its own minimum auto insurance requirements that you must have to legally use your vehicle. Most states require liability insurance, but if you live in a no-fault state, you will also need to purchase Personal Injury Protection (PIP).

Methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record, credit and the following comprehensive coverage limits:

  • $ 100,000 liability for bodily injury per person
  • $ 300,000 liability for bodily injury per accident
  • Civil liability for property damage of $ 50,000 per accident
  • $ 100,000 in bodily injury caused by an uninsured motorist per person
  • $ 300,000 in uninsured bodily injury per accident to a motorist
  • $ 500 collision deductible
  • Global deductible of $ 500

To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and cover 12,000 miles a year.

These are sample rates and should be used for comparison purposes only.

Credit: The rates have been calculated based on the following insurance credit levels assigned to our drivers: “poor, average, good (basic) and excellent.” Insurance credit levels take into account your official credit scores, but do not depend solely on this variable The following states do not allow credit to be a factor in determining auto insurance rates: CA, HI, MA

Age: The rates were calculated by evaluating our baseline profile with ages 18-60 (baseline: 40) applied. The 16-year-old rates were factored in as the additional cost of their parents’ policy; Rates for 18 year olds were calculated as drivers renting out their primary residence.

Incident: The rates were calculated by evaluating our basic profile with the following incidents applied: clean criminal record (base), responsible accident, single speeding ticket, single conviction for driving while intoxicated (TA of> = 0, 08) and cancellation of coverage.