State Farm vs. Progressive: Which Insurance Should We Choose?
Last week, my husband was involved in a rear-end collision, and it’s been quite the experience. Thankfully, our kids were not in the car, nor were there any children in the other vehicle, and thankfully, no one sustained serious injuries. Unfortunately, the other driver couldn’t produce his insurance information, so we had to file a claim with our own insurance, State Farm. We arranged for a rental and an adjuster confirmed that our car is considered totaled.
After five days, we heard from the other driver’s representative at Progressive, who informed us that they’re accepting full liability.
Now, I’m trying to figure out which insurance to proceed with. We can continue working with State Farm, and they’ll handle the subrogation process with Progressive. Alternatively, we could deal directly with Progressive. The payout amount State Farm initially quoted for the totaled vehicle was less than we anticipated. Should we expect a similar payout from Progressive, or could it potentially be higher (or lower)? This situation is incredibly frustrating, especially since we may need to take out a new car loan and possibly make a down payment when the accident was entirely the other driver’s fault. I want to ensure we receive the maximum possible payout from the insurance.
Located in North Texas.
I’m sorry to hear about the ordeal you’ve been going through after the accident. Thankfully, it sounds like everyone is okay, which is the most important part.
Regarding your question about whether to continue with State Farm or to work directly with Progressive, here are a few things to consider:
Payout Amounts: Typically, if Progressive is assuming full liability, they may offer a payout that reflects the fair market value of your vehicle, which could be higher than what State Farm initially proposed. However, this isn’t guaranteed and can vary based on their valuation process.
Subrogation Process: If you decide to continue with State Farm, they’ll handle the subrogation process for you. This means they will seek reimbursement from Progressive after paying out your claim. This can simplify your experience, but it could take longer to see the full resolution.
Direct Interaction with Progressive: If you choose to work directly with Progressive, you may have more control over the claims process and potentially negotiate the payout. It’s important to make sure you have all the necessary documentation regarding your vehicle’s value (like recent sales of similar cars, etc.) to support your case.
Claims Experience: Consider your comfort level with dealing directly with Progressive versus relying on State Farm. If you feel confident advocating for yourself and want to ensure you get the best possible payout, going through Progressive could be worthwhile.
Consult with State Farm: Before making a decision, it might be helpful to discuss with your State Farm representative. They can provide insights into the process and how their payout compares to what Progressive might offer.
Ultimately, evaluating the pros and cons of each option based on your specific circumstances will help you decide the best route. I hope you receive the resolution you need quickly!