Progressive Insurance® Unveils Multi-Year "Open the House" Initiative Designed to Advance Homeownership Education and Affordability

Rhea-AI Summary

Progressive Insurance (PGR) has launched 'Open the House', a comprehensive initiative to promote homeownership accessibility and education. The program introduces The UpPayment assistance program, offering $13,500 grants to 100 qualified first-generation homebuyers. Progressive committed over $7 million in 2024 for homeownership support and is expanding this through multiple programs including: a nationwide educational tour with a 'home on wheels', a video series called 'Recipe for Homeownership', and a Home Appraisal Help online tool launching summer 2025. The initiative aims to address homeownership barriers, as 78% of U.S. adults cite affordability as the main obstacle to owning a home. The company is focusing on providing financial support, educational resources, and tools to help first-generation homebuyers achieve and maintain homeownership while building generational wealth.

Positive

• Introduction of The UpPayment program offering $13,500 grants to 100 qualified first-generation homebuyers
• $7 million commitment in 2024 for homeownership support initiatives
• Launch of multiple educational resources including mobile tour, video series, and Home Appraisal Help tool
• Strategic focus on addressing homeownership barriers through financial and educational support

Negative

• None.

News Market Reaction

+1.34%

1 alert

+1.34% News Effect

On the day this news was published, PGR gained 1.34%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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.

View original content:https://www.prnewswire.com/news-releases/progressive-insurance-unveils-multi-year-open-the-house-initiative-designed-to-advance-homeownership-education-and-affordability-302469780.html

SOURCE Progressive Insurance

FAQ

What is Progressive Insurance's Open the House initiative?

Open the House is Progressive's multi-year program launched in 2025 that provides tools, information, and resources to help first-generation homebuyers achieve homeownership, including a $13,500 grant program and educational resources.

How much is Progressive's UpPayment grant for first-time homebuyers?

Progressive's UpPayment program offers a $13,500 grant towards home purchase for up to 100 qualified first-generation homebuyers.

What programs are included in Progressive's Open the House initiative?

The initiative includes The UpPayment grant program, Open the House mobile tour, Recipe for Homeownership video series, Home Appraisal Help online tool, and a short film titled Inherit.

How much has Progressive Insurance committed to homeownership support?

Progressive committed over $7 million in 2024 to help families purchase, retain, and build wealth through homeownership.

When will Progressive's Home Appraisal Help tool be available?

Progressive's Home Appraisal Help online tool will be available in summer 2025.