“Name Your Price” from Progressive Review

When comparing automobile insurance quotes to find the best rates for car insurance, you may have come across a Name Your Price tool on the Progressive website. This is a feature for car insurance premium quotes that is not offered by other companies. What it does is allows you to name the price that you would like to pay for an automobile insurance policy. Then it tries to work out your insurance coverage to fit within that price. It might not always be able to offer you an automobile insurance policy at the rate that you would like, since there is a minimum amount Progressive will charge for you to get the minimum limits for car insurance in your state.

How The Name Your Price Tool Works

Once you input your information, as well as the price that you would like to pay for automobile insurance, the company takes the information and tries to put a policy together at the price. Each car insurance provider has a minimum amount they will charge you for the required amount of auto insurance in the state you are applying in. The Name Your Price tool does not go below this minimum amount, but it will allow people to get a policy that has a little bit more coverage than the minimums, while also creating flexibility in terms of the costs you pay.

The Pros And Cons Of The Progressive Name Your Price Tool

The major pro of the Name Your Price tool is that it is easier to find a policy that fits within your budget, particularly if you are not looking for the minimum requirements for automobile insurance. When you put your information in, it will help you adjust the coverage limits and deductibles to fit the premium price you are looking for.

One of the cons of this type of insurance quote is that it is possible to put too much focus on the premiums you are paying and end up purchasing less car insurance coverage than you need. It is vital to look at your coverage needs and make sure that you are purchasing enough for your situation.

Another pro of the Name Your Price tool is that you can take a look at how much a few dollars can change the coverage limits for your automobile insurance policy. By making these types of adjustments, it can make it easier to compare a policy at Progressive with a policy from another automobile insurance company.

Remember that shopping around can help you get lower-cost car insurance and the Name Your Price policy does not always get you a lower price overall. The purpose of the tool is for people to match their budget up with their policy, and hopefully, policyholders to save money as well.

When You Cant Name Your Own Price

Certain conditions need to be met for you to Name Your Own Price. Drivers cannot name one dollar per month for their policy. Anytime the price you are considering is below the minimum amount that Progressive offers; you will not be able to get a quote for that rate. Other ways to lower your rates include the use of discounts. Discounts that can be found at Progressive include safe driver discounts, good student discounts, driving courses discounts, low mileage discounts, antitheft discounts, safety features discounts, multicar discount, and many others as well.

How Is The MyRate Program Different From Other Discounts?

This program is different from other types of discounts in that it involves a device being placed in your car. On your first auto insurance policy that MyRate is used, you get a 10% discount. The device keeps track of your driving habits so that Progressive insurance can offer you more substantial discounts if you meet the requirements.