progressive insurance loop hole!! save$$
 

I currently use an agent for my boat insurance and have a policy thru them with Progressive.

Well, my rate has gone up from 550/yr and renewal this year was $770. I had a $500 deductible and been with them for 4 years now..

My agent called me back when I questioned the rate increase and mentioned Progressives rates have been creeping up..

BUT, since they have vanishing deductibles for no claim and since I have had it for 4 years now with no claim, (25% reduction in deductible each year) regardless what my deductible is, I really dont have one...

SO!!! my agent told me that (progressive also advised them to do this also to keep me as a customer) if I raised my deductible to $5000, my rate would go down to $560!!!

Since I have had coverage on this boat for 4 years with no claims, if I have a claim, it will wipe out the $5k deductible... hence $0 deductible!!!!

Thought I would pass this along!!!!:ernaehrung004:

Had the same problem but fixed it by skipping the middle guy and called progressive directly.

I'd get that in writing, not sure it works that way. Something tells me your deductible is gonna still be approx $1582

Nice tip! I'm claim free and qualify for the 100%. Moved mine to $5,000 and what do you know... My monthly dropped from $109 to $49. That saved me $720 a year. I reviewed it with the phone agent (two of them because I called back just to make sure) and they said the $0 deductible was correct because of the vanishing deductible and the 25% per year reduction. Makes that point that whether it's a $100, 250, 500 etc that the deductible "vanishes".

Thanks again!

see if they will put that in WRITING... for your own sake... i deal with with often and they suck when you need them... just my opinion.

Agreed. And I will. The joy of Progressive and most any call center is they record calls. That's why I call from my phone number that is on record.

There was an issue on my account and I recounted a conversation from three years ago. They went back and reviewed the call and validated my claim and that the agent hadn't updated the account. That's why I called twice. One of the joys of my personal experience running a call center

I agree they DID NOT cover my Baja when a freak hail storm came through a few years ago. Broke most of my (new) gauges, most of the acc. switches & about 2000 half circle cracks in all the interior vinyl. I had full coverage.

Im going to look into this vanishing deductible though, thanks for the tip!

What reason did they give for not covering your hail damage?

Because the vinyl was 20 years old & the sun had made it brittle, as for the gauges switches about the same as the deductible. Seemed like :bsflag: to me but what could I do about it ? Nothing! Just suck it & fix it.

Its in writing!! Checked my policy and it states a 25% decrease in deductible each year of no claims!!