Company Announcements

Insurer aims to empower first-generation homebuyers with resources focused on affordability, education, and stability

MAYFIELD VILLAGE, Ohio , June 2, 2025 /PRNewswire/ -- Progressive Insurance is deepening its commitment to helping people move forward and live fully with the launch of a new initiative: Open the House. This multi-year program is designed to address the unique challenges aspiring homebuyers face in their pursuit of homeownership. Focused on economic empowerment, Open the House provides tools, information, and resources to help prospective buyers get into a home, stay in their home, and build long-term wealth. As part of this effort, Progressive is also introducing The UpPayment program—a down payment assistance program created to help eligible first-generation homebuyers overcome financial barriers and get into homes faster.

Homeownership is a key driver of economic mobility and generational wealth, yet first-generation buyers often lack the inherited knowledge and financial resources typically passed down through family. According to a recent Bankrate Home Affordability Report, 78% of U.S. adults cite affordability as the primary reason they don't own a home. Progressive believes that first-generation homebuyers deserve support as they navigate this complex process. That's why the brand is committed to Open the House—an initiative designed to help by providing financial support, offering educational resources, and developing tools to build long-term financial stability through homeownership.

"We believe homeownership should be an achievable goal for more Americans," said Tricia Griffith, Chief Executive Officer at Progressive. "Progress is at the heart of everything we do, and we're committed to providing first-generation homebuyers with guidance and support they need to help navigate the homebuying journey with confidence. By providing access, education, and financial support, we aim to help individuals and families build lasting financial security. Through strategic collaborations and tailored resources, our mission is to advance progress in the home by strengthening families and communities for the future."

In 2024, Progressive committed over $7 million to help more families purchase, retain, and build a lasting legacy through homeownership. Today, the brand is expanding that commitment as part of its broader purpose-driven efforts to Open the House—fostering financial security and generational wealth for years to come:

• The UpPayment program* will provide a $13,500 grant towards the purchase of a home to up to 100 qualified applicants— helping to alleviate one of the biggest financial barriers to homeownership. For program details and eligibility, click here.
• Open the House tour brings this initiative to life with a "home on wheels," designed to educate and empower aspiring homebuyers through engaging, informative content. The mobile experience will appear at cultural events across the U.S. in 2025.
• Recipe for Homeownership is a video-driven series of entertaining and educational conversations about homeownership and financial wellness. Each episode is hosted by a financial wellness expert, and special guests gather around the dinner table to discuss topics that align to our strategic pillars of helping more people get in, stay in, and build wealth through homeownership.
• Home Appraisal Help is an online offering from Progressive that will help to educate homeowners on the appraisal process and help them get an accurate assessment of the value for their home. Available later this summer, the site will offer helpful content drafted in collaboration with The Appraisal Foundation, as well as two unique tools, all designed to help homeowners prepare for home appraisals, answer complex questions about the appraisal process, and help homeowners get an accurate assessment of their home valuation.

Progressive will also debut a new short film titled Inherit—a powerful reflection on the knowledge and financial resource gaps that stand in the way of homeownership for many first-generation homebuyers.

With a focus on making resources available and actionable, Progressive has also enhanced its online resources, offering educational tools to guide homebuyers through every stage of the ownership journey.

"In celebration and recognition of National Homeownership Month, we want to empower individuals to take meaningful steps toward financial stability and lasting progress in the home," Tricia said. "By working alongside trusted community organizations, we can create real change that opens doors for homebuyers and help them build generational wealth."

For more information, visit http://www.progressive.com/OpenTheHouse 

About Progressive Insurance^®
Progressive Insurance^® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it's most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price^®, Snapshot^®, and HomeQuote Explorer^®.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

*No purchase necessary. Void where prohibited. Open to eligible adult legal residents of the 50 U.S. and D.C. Visit Progressive.com/UpPayment for official rules, entry dates & details.

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SOURCE Progressive Insurance