The Progressive Group of Insurance Companies announced today that it is lowering car insurance rates in Colorado for customers who buy through local independent agents by an average of 3 percent for new and renewing customers effective September 30 and November 9, 2007, respectively. Progressive is the country’s largest auto insurer through independent agents and the fifth largest in Colorado.
“We can lower rates, again, because we continue to see lower claims costs, in part because of the move to a tort-based insurance system,” said Michele Strub-Heer, senior product manager, Progressive. “We’re extremely happy that this shift has benefited drivers in so many ways — they’re paying less for car insurance, and they’re able to choose the coverages they want and need based on what’s right for them.”
This is the seventh time Progressive has lowered its rates for customers who buy through local independent agents since July 2003 when the state’s auto insurance reforms took effect, for a cumulative reduction of nearly 35 percent. In July, Progressive also lowered rates for the seventh time since 2003 for customers who buy online and by phone, for a similar cumulative reduction.
The Progressive Group of Insurance Companies, in business since 1937, is the country’s third largest auto insurance group and largest seller of motorcycle and personal watercraft policies based on premiums written, and is a market leader in commercial auto insurance.
Progressive is committed to becoming consumers’ #1 choice for auto insurance by providing competitive products and rates that meet drivers’ needs throughout their lifetimes, superior online and in-person customer service, and best-in-class, 24-hour claims service, including its concierge level of claims service available at service centers located in major metropolitan areas throughout the United States.
Progressive companies offer consumers choices in how to shop for, buy and manage their auto insurance policies. Progressive offers its products, including personal and commercial auto, motorcycle, boat and recreational vehicle insurance, through more than 30,000 independent insurance agencies throughout the U.S. and online and by phone directly from the Company. Private passenger auto products and prices are different when purchased directly from Progressive or through independent agencies. To find an agent or to get a quote, go to www.progressive.com.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, are publicly traded at (NYSE:PGR).
Michele Strub-Heer is available for interview.