The Progressive Direct Group of Insurance Companies announced today that it is lowering auto insurance premiums in Colorado by an average of 7.4 percent for new and existing customers effective June 30 and August 9, respectively. The Progressive Direct(R) brand of insurance is available by phone at 1-800-PROGRESSIVE (1-800-776-4737) and online at progressivedirect.com.
“Progressive Direct bases rates on market conditions and our expected cost of doing business. We adjust rates as needed to ensure our policies are accurately priced,” said Colorado Product Manager Michele Strub-Heer, Progressive Direct. “We continue to see lower claims costs, especially injury claims costs, as a result of the change from no-fault to tort so we’re pleased to pass those savings on to drivers here.”
This is the fifth time Progressive Direct has lowered its rates since July 2003 when auto insurance reforms took effect, for a cumulative reduction of nearly 30 percent.
Strub-Heer added that the 7.4 percent reduction is a statewide average that will affect individual customers differently; some Progressive Direct customers may experience a larger decrease, a smaller decrease or a rate increase.
In addition to lower average rates, Progressive Direct is also offering a $50, one-time-only discount to new customers who choose to sign their policy documents online, speeding up the process and saving time and postage costs.
In Colorado, The Progressive Group of Insurance Companies also sells the Drive(R) Insurance from Progressive brand, available from more than 750 independent agencies. Drive also has seen lower claims costs due to reforms and has lowered rates several times since July 2003. Drive’s most recent rate reduction was 4.8 percent in October 2005.
The Progressive Group of Insurance Companies, in business since 1937, ranks third in the nation and fifth in Colorado for auto insurance based on premiums written and provides drivers with competitive rates and 24/7 in-person and online service. The products and services of the Progressive Direct Group of Insurance Companies are marketed directly to consumers by phone at 1-800-PROGRESSIVE and online at www.progressivedirect.com through the Progressive Direct(R) brand. The products and services of the Drive Group of Progressive Insurance Companies are offered by more than 30,000 independent insurance agencies and online at www.driveinsurance.com through the Drive(R) Insurance from Progressive brand. More information can be found at www.progressive.com.
Michele Strub-Heer is available for interview