New York auto insurer Progressive Corp. is poised to establish itself as a major competitor for industry big-hitter GEICO, expanding its revenues and profits in 2010 based off of its unexpected profitability this year. According to Reuters reports Progressive stock is trading at 11 times its projected 2009 value of $1.47 profit per share (bringing progressive stock to $16). This is unprecedented profitability for the company that will most likely in turn translate into benefits for the consumer.

So what can we expect to see from the higher profitability of a major auto insurance company in your area? As Progressive is looking to establish itself as a top if not THE top auto insurance provider in the nation this can mean an extremely competitive market for you as a consumer to benefit from. Competition with auto insurance providers in general as well as he other big-hitter GEICO can be expected to bring about competitive new rates on insurance policies across the board in the near future.

The big question is whether or not this is a sustainable pattern and Progressive can continue in such a way. If so, Progressive consumers can expect to see benefits in their favor in both the short and long run, while if it isn't sustainable you may still be able to benefit some in the short run regardless.

To get up-to-date information on current insurance rates as well as what providers are available to you in your area at various prices try searching online using insurance search engines regularly. These can help you keep informed on what is happening in your neighborhood as well as make your own informed decisions when necessary. Don't feel stuck in the planning stage or be afraid to change due to company loyalty or other factors as well. Many people refuse to change providers for these reasons, or simply they are afraid of going to a new company - after all, change can be a difficult and not an easy thing for most people to readily accept. If you can receive better rates than another company though that can provide you with the services that you need don't be afraid to at least look at what they can offer and talk to them to get more information. It's your money after all.