Progressive vs. Travelers: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, Travelers offers slightly more affordable prices than Progressive
• Progressive offers more affordable premiums for policyholders who are looking to purchase insurance with a spouse
• Travelers tends to be a much cheaper option for drivers who have below-average credit

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Progressive or Travelers: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering huge savings, but exactly how much money can you save by switching?

You might have narrowed your search down to Progressive or Travelers as your top options, but between the two, which company will save you the most?

Looking at nationwide averages, Progressive is around $13 more a month than Travelers.

That being said, Travelers may not be the lowest or best option for each driver out there. Auto insurance carriers use all sorts of complex algorithms to determine rates, so depending on how good your credit score is or how clean your driving record is (among a whole range of other factors), you could see wildly different premiums from the ones above.

Wanting to know if Progressive or Travelers is really the right carrier for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Progressive vs. Travelers: Average Car Insurance Rates by State

Progressive and Travelers compete against each other in 26 states, with Travelers offering less expensive premiums to the average driver in all but six of them. If you live in Massachusetts, Michigan, New Jersey, Nevada, or Wisconsin, Progressive is the cheaper of the two companies when looking at the overall average prices, but Travelers is the cheaper option in most of the others.

That being said, there's a lot more that goes into your car insurance bill than just where you call home. Read on to learn more.

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Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for insurance compared to older drivers. That's usually because teen drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Travelers for their car insurance pay almost 20% less than those who use Progressive.

However, both carriers will offer you dramatically lower prices by the time drivers turn 25. For example, average premiums for Progressive policyholders drop about $300 and Travelers's rates decrease over $200 over that time.

Which is the Best Company for Retired Drivers?

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest premiums you'll ever see.

When looking at Progressive and Travelers specifically, which company is best for retired drivers? In this case, Progressive has the slight edge, with rates around $1 per month less than Travelers. Even so, the difference is only about 5%, so other variables will likely come into play when determining which carrier has the lowest prices for you.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are typically more expensive for those who are single than they are for married drivers? This usually boils down to married policyholders having several vehicles on their policy -- something several insurance companies will reward with discounts.

For single policyholders, the difference in average prices between these two carriers is significant, with Travelers premiums coming in at around 15% less than Progressive's. But for married couples, that advantage is much less clear - Progressive has the edge when it comes to average prices , but the difference is only $10.

Progressive or Travelers: Average Rates by Gender

You may not know, but auto insurance is normally cheaper for women than it is for men. That's because men are more likely to get into accidents and get tickets, which increases the chances of filing a claim with insurance.

Men generally pay about $5 a month more than women with Progressive, but with Travelers, the difference is closer to $11 per month.

When it comes to the cheapest premiums for each gender, Travelers offers the most affordable average rates for both men and women. On average, male drivers save about $11 a month and women save around $17 with Travelers compared to the average Progressive policyholder.

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Progressive vs. Travelers: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

It's no secret that car insurance can be a complicated subject for most people. There are a range of different coverages that account for lots of different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

But the most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers if you cause an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside liability).

Looking specifically at state minimum liability limits, Travelers has the slight edge, with average monthly premiums coming in at $108. If you want a full coverage policy with the same state minimum limits, Travelers again has the edge, with policies averaging about $225 per month to Progressive's $250.

Is Progressive or Travelers Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto insurance. But that's not to say you can't save money if you don't have the best driving record, either.

You'll probably end up paying more with collisions and speeding tickets on your record, but which of these two companies offers the cheapest rates to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Progressive for their car insurance can usually expect their monthly bill to go up around 17% after getting a speeding ticket. Travelers policyholders can expect a bit more drastic of an increase of about 20%.

However, Travelers is normally the less expensive option for drivers both with a ticket and with a clean record, offering prices that are $21 and $20 more affordable, respectively, compared to Progressive.

Which Company is Best for Drivers After an Accident?

Progressive drivers who get in a collision can expect to see their rates climb by over 30%, while those who have insurance through Travelers will see around a 25% increase.

At the end of the day, the cheaper prices come from Travelers, with average premiums coming in at $173 compared to Progressive's $214.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- typically a lot more than an accident or speeding ticket. Travelers drivers usually see a 38% increase in their car insurance rates after a DUI charge, while Progressive will generally raise prices by about 16%.

But if you end up with a DUI charge and are looking for more affordable premiums, Progressive tends to be less expensive for the average driver, with monthly premiums coming in at around $177 to Travelers's $205.

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How does Credit Score Impact Progressive and Travelers Rates?

Did you know many insurance carriers take into account your credit score when determining rates? This isn't true for everyone (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it might come into play for quite a few policyholders.

Auto insurance companies argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

Looking at Progressive and Travelers specifically, which one has the most affordable premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Travelers will usually reward you the most. For drivers with "excellent" credit scores, Travelers comes in nearly 12.5 more affordable. Drivers with "good" credit scores typically save about 10% with Travelers compared to average prices from Progressive.

Which Company is Best for Drivers with Bad Credit?

Travelers typically offers lower premiums than Progressive when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around 4% a month less with Travelers compared to Progressive, and those with "poor" scores normally save an average of about 6% a month.

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Is Progressive or Travelers Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a considerable impact on your monthly prices. Generally, the more milage you put on your car each year, the more you can expect to pay for coverage.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Progressive charges. However, there's a small difference in monthly rates for Travelers, with policyholders who drive the least paying around $5 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Travelers is the cheaper company.

Progressive or Travelers: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can have a substantial impact on your monthly car insurance payment. Typically, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

When comparing these two carriers side-by-side, Travelers normally comes out as the cheapest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to save about $18 with Travelers compared to Progressive. People who live in suburban areas pay around $19 less with Travelers compared to Progressive. For policyholders in urban ZIP codes, Travelers's average premiums are about $3 less than Progressive.

Progressive vs. Travelers Discounts

You want to save as much money as you can, right? The best way to do that is by taking advantage of as many auto insurance discounts as possible.

But with what seems like a million different discounts out there, it can be challenging to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you can take advantage of.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Progressive and Travelers so that you can find the carrier that has the most discounts and, therefore, the largest savings.

Progressive knocks Travelers out of the park when it comes to the sheer number of discounts available, offering 34 different discounts to Travelers's 25.

There are a couple discounts both companies offer, but Progressive also offers discounts for advanced safety feature, agency transfer, e-signature, and more.

On the other hand, Travelers has a few proprietary discounts of their own for things like alternative fuel discounts, driver training discounts, electric vehicle discounts, and more.

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Final Thoughts: Is Progressive or Travelers Best for You?

So, you've seen how different factors can affect your car insurance rates. We've shown you all the discounts each carrier offers, too. But, at the end of the day, is Progressive or Travelers the right one for you, your vehicle, and your wallet?

Travelers might be best for you if....

• You have a clean record.
• You already have a great credit score.
• You live in a rural neighborhood.

Progressive might be best for you if...

• You're looking for discounts -- Progressive has the most.
• You're of retirement age and want to take advantage of lower premiums.
• You are purchasing your auto insurance with a spouse.

Hopefully, this guide has ben a valuable resource as you compare Progressive and Travelers and that you can now make a more informed decision when it comes to your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from a handful of carriers, not just Progressive and Travelers. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

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Progressive vs. Travelers FAQs

Is Progressive or Travelers cheaper?

Travelers is the more affordable of the two carriers when looking at national average rates, with policies averaging $167 per month with Travelers and $180 for Progressive. That being said, that doesn't mean Travelers will be the most affordable company for each driver, since there are several different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Progressive or Travelers?

Unfortunately, the only answer we can give you is "it depends.". No single carrier is "better" for every policyholder -- it all comes down to what your unique car insurance profile looks like. For example, Travelers is less expensive for drivers with excellent credit, while Progressive offers more affordable prices for drivers with a recent DUI.

Why do Progressive and Travelers offer me different rates?

Insurance companies use a lot of different factors when calculating the rates they charge. Things such as your driving record, age, where you call home, gender, and sometimes even things like your credit score can all come into play. Both Progressive and Travelers calculate prices using different formulas, so it's likely they'll offer different premiums. The best way to determine which company is the lowest for you is by comparing personalized quotes from a variety of different carriers.

How do I know if Progressive or Travelers is right for me?

The only way to find the auto insurance carrier that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your information once and you'll get quotes from dozens of your local top car insurance carriers for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Progressive or Travelers at all, but another you hadn't even thought of!

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Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.