Price is a common consideration when you shop for car insurance, but let's take one step back from that. You need to feel reassured that the savings you're looking for come from an insurer you can count on. Progressive is that trusted insurer, as our financial strength is reflected in our strong third-party ratings.
These financial ratings are from third-party companies and help determine how likely a company is to meet its financial obligations. We have received some of the highest financial ratings and honors from A.M Best and other leading organizations, which means that we have a superior ability to honor our insurance commitments and pay claims for our customers.
Progressive's financial ratings from third-party companies
| Rating organization | Progressive rating | Description from rating organization |
| A.M. Best | A+ Superior | Highest rating and reserved for companies that have a superior ability to meet ongoing insurance obligations |
| Standard and Poor | AA | Rating reserved for companies that have a very strong capacity to meet financial requirements |
| Moody’s Investors Services | Aa | Rating reserved for high-quality companies that have a very low credit risk |
Want to learn more about Progressive? Find insurance ratings and reviews from Progressive customers and compare auto insurance rates with other companies to see how Progressive may help you save.
FAQs
The biggest insurance companies in the United States generally have very strong financial ratings, which indicates sound business models. Companies with the best ratings — the highest possible — include Geico, MassMutual and New York Life.
Which third party insurance company rating agency uses ratings ranging from AAA to C? ›
Moody's: Moody's Insurance Financial Strength Ratings are opinions of the ability of insurance companies to repay punctually senior policyholder claims and obligations. Moody's ratings range from Aaa to C. Moody's applies numerical modifiers 1,2, & 3 in each rating classification from Aa to Caa.
Which insurance company rating service is most accurate? ›
AM Best is one of the best-known independent credit rating agencies for insurance companies. They have been in business since 1899 and operate not just in the United States, but internationally as well.
What is a third party financial responsibility? ›
Third-party billing involves a process where charges for services rendered, or goods sold, are not directly paid by the customer but are billed to an independent entity. This means the third-party payer assumes the financial responsibility for the payment.
Who is the most trusted insurance company? ›
Here are the best car insurance companies of 2024:
- Travelers: Best insurance company overall.
- American Family: Best for affordability.
- Geico: Best for accident forgiveness.
- NJM: Best for having few customer complaints.
- Auto-Owners: Best for financial strength.
- Amica: Best for discounts.
Currently, the largest car insurance company in America is State Farm. Major auto insurance companies offer financial stability and a variety of coverage plans. To find cheap car insurance rates, you'll need to compare quotes from various providers.
Which rating is better AA or AAA? ›
S&P ratings are issued to long-term issuers of credit and insurance companies on a letter-based scale. The first rating is AAA, while the second highest is AA. Anything that falls in the A class is considered high quality, and the debt issuer has a strong likelihood of meeting its financial obligations.
What insurance company has the highest customer satisfaction? ›
Home insurance customers expressed satisfaction with USAA at 96 percent, Amica Mutual at 90.4 percent, and Country Insurance at 90.2 percent. Life insurance companies ranked in customer satisfaction were American General at 83.2 percent, Jackson National at 80.6 percent and Allstate at 80.5 percent.
What are the three rating companies? ›
The Big 3 Credit Rating Agencies
The top firms include Moody's Investor Services, Standard and Poor's (S&P), and Fitch Group. Moody's and S&P are located in the United States, and they dominate 80% of the international market.
How do I check the rating of an insurance company? ›
How to check an insurer's financial strength
- A.M. Best Company.
- Demotech.
- Fitch Ratings.
- Moody's Investor Service.
- Standard and Poor's Corporation.
Currently there are only two companies in the United States with an AAA credit rating: Microsoft and Johnson & Johnson.
Which insurance company says surprisingly great rates? ›
Surprisingly Great Rates - State Farm®
Can a third party be liable? ›
In such directions, the court may order judgment to be entered against the third party where liability is established. If there is a proper issue to be determined, the court may try the issue or have it referred to trial in such manners as is appropriate.
Will a third party claim affect my insurance? ›
Will a Third-Party Claim Affect My Insurance? Typically, third-party claims are separate from your insurance. If you are worried about your premiums being affected, you can file the third-party claim directly with the insurance company of the person at fault.
What is a third party finance company? ›
With third-party financing or lending, an external financier offers payment options to your customers, enabling them to purchase now and pay later. This setup means you get paid immediately while your customers enjoy flexible payment terms.
Which homeowners insurance has the highest customer satisfaction rating? ›
The best home insurance companies at a glance
- Best for consumer satisfaction: Amica.
- Best for using an agent: Auto-Owners.
- Best for high-value homes: Chubb.
- Best for discounts: Country Financial.
- Best for coverage: Erie.
- Best regional insurer: NJM.
- Best for military members and veterans: USAA.
Zander Insurance Is RamseyTrusted
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What is the financial rating of Progressive insurance? ›
Progressive's financial ratings from third-party companies
| Rating organization | Progressive rating |
|---|
| Rating organization:A.M. Best | Progressive rating:A+ Superior |
| Rating organization:Standard and Poor | Progressive rating:AA |
| Rating organization:Moody's Investors Services | Progressive rating:Aa |
