Progressive Corp. (PGR) stock — is it a good business?

Progressive Corp. (PGR) stock — is it a good business? — InspectStocks

How it makes money

Personal Lines insurance premiums
Commercial Lines insurance premiums
Investment income
Commissions and fees from insurance and related services1%
2025

Competes with

BRK.BGEICO, a Berkshire Hathaway subsidiary
State Farm
ALLAllstate
B
Size
$64.9B
Margin
16.6%
TRVTravelers
A
Size
$81.8B
Margin
17.0%
Liberty Mutual
Nationwide

What it sells6

Personal auto insurance and Snapshot
Auto coverage for individuals. Snapshot is an optional program that uses driving information from a device or mobile app to help set an individual customer's rate.
Special lines vehicle insurance
Insurance for motorcycles, recreational vehicles, boats and other recreational vehicles.
Personal property insurance
Coverage for homeowners and renters, as well as manufactured homes, personal umbrella liability and flood insurance.

Show 3 more

Commercial auto insurance
Liability and vehicle-damage coverage for business vehicles, including trucks, contractors’ vehicles, small-business autos, fleets and vehicles used for rideshare services.
Small-business property and liability insurance
Business property and general liability coverage, including a business owners’ policy that combines types of protection for small businesses.
Workers’ compensation insurance
Coverage for work-related employee injuries, offered primarily to businesses in the transportation industry.

Who buys it6

Individuals buying auto insurance directly online or by phone, or through an independent insurance agent.
Motorcycle, boat and recreational-vehicle owners buying coverage directly or through agents.
Homeowners and renters buying property coverage, often alongside auto insurance.

Show 3 more

Small businesses buying vehicle, property and liability coverage through agents or direct quoting tools.
Truck operators, transportation businesses and fleets buying commercial auto or workers’ compensation coverage through agents or specialist brokers.
Ride-hailing companies arranging commercial auto coverage for drivers using their services.

What it stands on, and what could break it

What the business leans on

1Insurance regulators control important parts of the business, including licenses, permitted coverages, policy terms and, in some places, rates and rate changes.
2Progressive relies on independent insurance agents and brokers to sell many policies, especially personal property and commercial coverage.
3Progressive buys reinsurance to share some property catastrophe losses and certain commercial losses; it generally does not buy catastrophe-specific reinsurance for personal auto or core commercial auto.
4The company relies on its own and third-party computer systems to quote policies, handle claims and serve customers.
5Some insurance products are written by unaffiliated partner insurers, and Progressive earns commissions for referring or placing those policies.

What could go wrong

1If Progressive misjudges claim frequency or severity, sets rates that do not cover claims and expenses, or estimates unpaid claims incorrectly, insurance results can be affected.
2Severe storms and other catastrophes can cause large property claims; losses may exceed reinsurance coverage, and reinsurance may not remain available on acceptable terms.
3A cyberattack or disruption affecting Progressive’s systems or a third-party provider could interrupt quoting, policy service or claims handling and expose customer or company information.

Full financial statements →

About Progressive Corp.

Progressive is an insurance group that sells coverage across the United States to individuals, households and businesses. Customers can buy directly online or by phone, or through independent insurance agents. Progressive also invests the premiums it collects and earns income from those investments.

Head office: Mayfield Village, Ohio, United States
Founded: 1937
Employees: about 70,000 (December 31, 2025, high)
Listed on: NYSE
Financial year ends: December 31

Built from Progressive Corp.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Keep exploring

The themes Progressive is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Insurance Property and Casualty

Graded A or B and worth $2B or more: A first, then the largest.

Grade rose recently in Financials

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

How it makes money

Personal Lines insurance premiums
Commercial Lines insurance premiums
Investment income
Commissions and fees from insurance and related services1%
2025

Competes with

BRK.BGEICO, a Berkshire Hathaway subsidiary
State Farm
ALLAllstate
B
Size
$64.9B
Margin
16.6%
TRVTravelers
A
Size
$81.8B
Margin
17.0%
Liberty Mutual
Nationwide

What it sells6

Personal auto insurance and Snapshot
Auto coverage for individuals. Snapshot is an optional program that uses driving information from a device or mobile app to help set an individual customer's rate.
Special lines vehicle insurance
Insurance for motorcycles, recreational vehicles, boats and other recreational vehicles.
Personal property insurance
Coverage for homeowners and renters, as well as manufactured homes, personal umbrella liability and flood insurance.

Show 3 more

Commercial auto insurance
Liability and vehicle-damage coverage for business vehicles, including trucks, contractors’ vehicles, small-business autos, fleets and vehicles used for rideshare services.
Small-business property and liability insurance
Business property and general liability coverage, including a business owners’ policy that combines types of protection for small businesses.
Workers’ compensation insurance
Coverage for work-related employee injuries, offered primarily to businesses in the transportation industry.

Who buys it6

Individuals buying auto insurance directly online or by phone, or through an independent insurance agent.
Motorcycle, boat and recreational-vehicle owners buying coverage directly or through agents.
Homeowners and renters buying property coverage, often alongside auto insurance.

Show 3 more

Small businesses buying vehicle, property and liability coverage through agents or direct quoting tools.
Truck operators, transportation businesses and fleets buying commercial auto or workers’ compensation coverage through agents or specialist brokers.
Ride-hailing companies arranging commercial auto coverage for drivers using their services.

What it stands on, and what could break it

What the business leans on

1Insurance regulators control important parts of the business, including licenses, permitted coverages, policy terms and, in some places, rates and rate changes.
2Progressive relies on independent insurance agents and brokers to sell many policies, especially personal property and commercial coverage.
3Progressive buys reinsurance to share some property catastrophe losses and certain commercial losses; it generally does not buy catastrophe-specific reinsurance for personal auto or core commercial auto.
4The company relies on its own and third-party computer systems to quote policies, handle claims and serve customers.
5Some insurance products are written by unaffiliated partner insurers, and Progressive earns commissions for referring or placing those policies.

What could go wrong

1If Progressive misjudges claim frequency or severity, sets rates that do not cover claims and expenses, or estimates unpaid claims incorrectly, insurance results can be affected.
2Severe storms and other catastrophes can cause large property claims; losses may exceed reinsurance coverage, and reinsurance may not remain available on acceptable terms.
3A cyberattack or disruption affecting Progressive’s systems or a third-party provider could interrupt quoting, policy service or claims handling and expose customer or company information.

Full financial statements →

About Progressive Corp.

Head office: Mayfield Village, Ohio, United States
Founded: 1937
Employees: about 70,000 (December 31, 2025, high)
Listed on: NYSE
Financial year ends: December 31

How it makes money

Competes with

What it sells6

Who buys it6

What it stands on, and what could break it

What the business leans on

What could go wrong

About Progressive Corp.

Keep exploring

The theme it is part of

Highest-graded in Insurance Property and Casualty

Grade rose recently in Financials

How it makes money

Competes with

What it sells6

Who buys it6

What it stands on, and what could break it

What the business leans on

What could go wrong

About Progressive Corp.

Keep exploring

The theme it is part of

Highest-graded in Insurance Property and Casualty

Grade rose recently in Financials

Property & casualty insurers

Progressive Corp.

Growth & cash — 4 of 5

Business trend

Share price and grade over time

How it makes money

Competes with

What it sells6

Who buys it6

What it stands on, and what could break it

What the business leans on

What could go wrong

About Progressive Corp.

Keep exploring

The theme it is part of

Highest-graded in Insurance Property and Casualty

Grade rose recently in Financials

How it makes money

Competes with

What it sells6

Who buys it6

What it stands on, and what could break it

What the business leans on

What could go wrong

About Progressive Corp.

Keep exploring

The theme it is part of

Highest-graded in Insurance Property and Casualty

Grade rose recently in Financials

Property & casualty insurers

Progressive Corp.

Past performance

Growth & cash — 4 of 5

Business trend

Share price and grade over time