Name Your Price is a quoting tool: you tell Progressive how much you’d like to pay, and it shows you coverage options that fit that budget. It doesn’t lower Progressive’s rates, and it doesn’t match other companies’ prices. What changes is the coverage you’re shown.
That makes it useful for seeing what your budget can buy, as long as you check what’s been trimmed to reach your number.
Key Takeaways
- You enter a target price during a new quote, and Progressive shows coverage packages close to that amount. You can adjust the coverages before you buy.
- It isn’t a discount or a price match. Progressive says it can’t match quotes you get from other insurers.
- It’s available in most states for new quotes, and state law limits how closely the price and coverage can match.
- A lower price usually means less coverage, so check your liability limits, deductibles and whether comprehensive and collision are still included.
How the Name Your Price Tool Works
- Start a quote. Enter the basic information Progressive asks for about you and your car.
- Enter your price. Progressive says, “Use the Name Your Price tool and tell us how much you want to pay. We show you coverage options that fit your desired price.”
- Review the options. If the amount you enter is outside Progressive’s range, it shows “the closest available coverage package.”
- Adjust before you buy. Progressive says, “You can adjust coverages until they meet your needs before buying your policy.”
The fine print on Progressive’s Name Your Price page reads: “Name Your Price® is available in most states for new quotes. Price and coverage match limited by state law.”
What Name Your Price Can’t Do
- It won’t match another company’s quote. Progressive says, “We can’t match prices against quotes you receive from other insurance companies.”
- It won’t cut your rate for the same coverage. Progressive says the tool helps you find a policy that fits your budget “based on your coverage needs,” and adds, “Cheapest doesn’t always mean the best protection.”
- It can’t go below what the law requires. Every policy still has to meet your state’s minimum coverage rules.
What Usually Changes When You Lower the Price
When you enter a lower number, the coverage has to shrink to meet it. Before you buy, compare these parts of the package with what you actually need:
- Liability limits. Lower limits mean less protection if you injure someone or damage their property. Minimum limits can leave you personally responsible for costs above them. RateFrog’s guide to what minimum coverage covers explains the risk.
- Comprehensive and collision. Dropping them can save a lot, but then your own car isn’t covered for theft, weather or crash damage. Progressive itself says that if you’re worried about affording repair bills after an accident, “it may make sense to pay more and add comprehensive and collision coverages to your policy.” If you have a loan or lease, your lender will usually require both.
- Deductibles. A higher deductible lowers the premium but raises what you pay when you file a claim.
- Add-ons. Extras like rental reimbursement and roadside assistance may be left out of a lower-priced package.
For more on how these pieces fit together, see RateFrog’s guide to minimum vs. full coverage.
Tips for Using Name Your Price Well
- Start with the coverage you need, not the price. Decide on liability limits and whether you need comprehensive and collision first, then see what they cost.
- Compare like with like. When you check other insurers, use the same limits and deductibles so the prices are comparable. You can compare car insurance quotes through RateFrog.
- Look for real discounts. Discounts lower the price without cutting coverage. Progressive’s Snapshot program, for example, can lower your rate based on how you drive, though it can raise rates for risky driving in some states.
Frequently Asked Questions
Is Name Your Price a Discount?
No. It’s a way to see coverage packages that fit a budget. Progressive lists it among its savings tools, but it works by changing the coverage you’re shown, not by lowering the rate for the same coverage.
Can Existing Progressive Customers Use Name Your Price?
Progressive describes the tool as available in most states for new quotes. If you’re already a customer and want a lower premium, ask Progressive about changing your coverage or adding discounts.
Will Name Your Price Give Me the Cheapest Possible Policy?
Not necessarily, and it may not be the right choice. Progressive notes that “Cheapest doesn’t always mean the best protection.” Compare the coverage in the package with what you need before you buy.