Allstate loses long-held second place in home state Illinois auto insurance market

Illinois auto insurance - image of Chicago, Illinois

The insurer has long held the number two position in the state, but Progressive’s growth was faster. Progressive has, for the first time, taken Allstate’s position in its Illinois auto insurance home state market. Based on a key measure, Allstate has lost the position it has been holding for decades. Based in Cleveland, Ohio Progressive now provides Illinois auto insurance for a larger number of vehicles than Allstate, which is based in Northbrook. This tally uses the figures filed with the state Department of Insurance. Possibly more importantly, Progressive’s rapid…

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Progressive Insurance Snapshot program may make it easier to lower auto premiums

progressive insurance news

The insurer is temporarily tweaking the rules of its UBI to better serve policyholders during the pandemic. The Progressive Insurance Snapshot program is being temporarily altered as a part of a strategy to make it easier to reduce a customer’s premiums throughout the COVID-19 pandemic. This usage based insurance program was designed to help good driving habits to be reflected in premiums. The Progressive Insurance Snapshot program uses either a mobile app or a device installed in the vehicle to track a policyholder’s driving behaviors. It detects occurrences such as…

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Will State Farm lose its US auto insurance dominance to Geico?

US Auto insurance - Hands and car

If current trends continue, the United States will have a new top vehicle insurer by 2022. For decades, State Farm has held onto the top spot among US auto insurance companies. That said, if recent trends keep up as they have been, it won’t be long before it loses its crown to a much younger rival. State farm has suffered business losses as a result of several steep rate hikes in recent years. The leader in US auto insurance has suffered steep losses after a spectrum of notably large rate…

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