Does Progressive’s “Name Your Price” Tool Actually Save You Money?

Last Updated on October 20, 2026

By James Shaffer · Reviewed by Thomas Rockford, insurance industry executive and financial analyst, on October 18, 2026 · How we fact-check

Progressive’s Name Your Price® tool can help you find a cheaper Progressive policy, but it doesn’t create a “custom deal” that other shoppers can’t get. Progressive describes it in three steps: you give it your driver and vehicle details so it can work out your lowest and highest possible rates, you tell it how much you want to pay, and it shows you coverage options that fit that price. The number you name doesn’t change your rate; it changes which package of coverages, limits and deductibles you are shown.

Used the right way, it’s a helpful budgeting shortcut for comparing car insurance options. Used the wrong way, it can steer you into bare-minimum coverage that looks affordable on the screen but leaves you exposed if you cause (or suffer) a serious accident.

What the “Name Your Price” Tool Actually Does

The Name Your Price tool is best thought of as a guided quote slider. You pick a target price, and Progressive shows policy packages near that budget. Those packages can differ in meaningful ways — like lower liability limits, higher deductibles, fewer add-ons, or different coverage types — even if the monthly price is similar.

Progressive says the tool is available in most states for new quotes, that the match between price and coverage is limited by state law, and that an amount outside its price range gets you the closest available package. Nothing on Progressive’s page describes the tool as a discount finder; the discounts you get come from the quote itself. If you’re already considering Progressive, start with our Progressive auto insurance review to see how their rates, tools, and coverage options stack up overall.

How to Use Name Your Price Step-by-Step

• Step 1: Get a baseline quote. Progressive first needs your driver and vehicle details to generate a quote range.
• Step 2: Enter the price you want to pay. The tool then displays coverage packages that fit near that target.
• Step 3: Review what changed. Look at liability limits, collision/comprehensive, deductibles, and extras before assuming it’s a “better deal.”
• Step 4: Adjust for protection, not just price. If the cheapest option is too thin, move the slider up and rebuild a policy you’d actually feel safe with.

How the Tool Gets You to a Lower Price

To hit a lower target, the tool usually relies on one (or more) of these levers:

• Lower liability limits (often the biggest price drop — and the biggest risk)
• Higher deductibles on physical-damage coverages
• Removing optional coverages (like roadside, rental, custom equipment, etc.)
• Dropping collision and/or comprehensive (common on older paid-off vehicles)

This is why “Name Your Price” is a bit of a misnomer: you’re choosing from the prices that are possible based on Progressive’s rating factors and your coverage selections, not setting the price like a menu order. Progressive itself says the tool can’t guarantee a lower price, that its lowest price may not include all the protection you want, and that it can’t match quotes from other insurance companies.

When Name Your Price Can Save You Money

The tool is most useful in three situations:

• You’re not sure which coverages matter. It quickly shows how price moves when you add/remove protections.
• You want to see what each step down in price costs you. The tool shows the trade-off between a lower payment and thinner coverage in one place. It is not a discount finder, so review Progressive’s discount lineup yourself and ask about any discount missing from the quote.
• You have a firm monthly budget. It’s an easy way to locate the “sweet spot” where the protection is acceptable and the payment is realistic.

The Biggest Downside: It Can Nudge You Into Underinsurance

The cheapest packages often include only what’s required by law. That might keep you legal, but it may not keep you financially safe.

Most states require a minimum amount of liability coverage, but minimum limits can be quickly exhausted in a real-world crash (especially if anyone is injured). And while collision coverage and comprehensive coverage aren’t required by law, dropping them can be painful if your car is financed, expensive to repair, or hard to replace.

If you’re currently shopping for the lowest possible payment, make sure you understand what minimum coverage really means — and what it won’t pay for.

How to Use Name Your Price Safely

• Set your “must-haves” first. Decide your liability limits and whether you need collision/comprehensive before chasing the lowest number.
• Raise deductibles thoughtfully. A higher deductible can cut premium, but only if you could comfortably pay that deductible tomorrow.
• Use it as a starting point, then shop around. Even if Progressive looks great, another insurer might offer stronger coverage for the same price.
• Check your coverage need with a calculator. Use our car insurance calculator to sanity-check your limits and coverage choices before you buy.

FAQs on Progressive’s Name Your Price Tool

Bottom Line: Does Progressive’s Name Your Price Tool Save You Money?

It can, mostly by helping you find a policy configuration that fits your budget and by showing you what each lower price costs you in coverage. But it’s not a guarantee of “the best price,” and the cheapest results can come with serious trade-offs in protection. Use it to explore options, then choose coverage based on risk first and price second.

My advice is to decide your liability limits before you touch the slider, then type in a price and see what Progressive takes away to get there. If the only way down is lower limits, that is the tool telling you the real price of the coverage you need, so take that number and get it quoted by two other companies.

Sources

Checked October 18, 2026

• Progressive — Name Your Price® Tool