For Immediate Release

Contact: Kathy Bell/Jericho Communications/212.645.6900 ext. 117
HARDER TO NAME A BOAT THAN A BABY?
THAT’S WHAT SOME BOATERS SAY IN NEW SURVEY

Boaters Weigh in on Names, Shopping Habits, Gilligan’s Island and Other Matters in Survey by one of America’s Fastest-Growing Boat Insurers

MAYFIELD VILLAGE, Ohio (March 14, 2005) – What’s in a name? Plenty, according to a recent countrywide online survey conducted by The Progressive Group of Insurance Companies, a leading boat insurer and the number one seller of personal watercraft insurance in the United States.

The survey of more than 1,000 people with pleasure and fishing boats finds that more than a third of all boaters surveyed (37 percent) name their boat, although pleasure boaters are more likely than people with fishing boats to do so (42 percent versus 29 percent, respectively). As for the inspiration behind their boat’s name, 14 percent of all boaters say it’s their significant other’s name. But deciding on the perfect name was a challenge for some – nearly one in four (22 percent) say it was actually harder to name their boat than their pet or child.

“In some ways, this finding isn’t all that surprising,” said Scott Hall, boat product manager, Progressive. “When you talk with boaters every day like we do, you see first-hand how emotionally attached they are to their boats.”

Hall said Progressive fielded the light-hearted survey as a fun way to gain additional insight into boaters’ behaviors and attitudes.

The survey finds that brains win out when it comes to being marooned on an island. The Gilligan’s Island character boaters say they’d most like to be stranded on an island with is The Professor (38 percent). Thurston and “Lovey” Howell are the least popular choices, each getting picked by only 1 percent of boaters.

When it comes to gender differences, the opposite sex wins out. Women boaters say they’d most like to be stranded on an island with The Professor (60 percent), while men prefer down-to-earth Mary Ann over glamorous Ginger (49 percent to 30 percent).

And some boaters seem to be capable of falling in love at first sight. The survey finds that, even though it’s a major purchase for most people, one in nine boaters (9 percent) spent just one day shopping for a boat before buying. People with fishing boats were slightly more likely than pleasure boaters to do so (11 percent versus 8 percent). The largest percentage of boaters spent about one month shopping for their boat (30 percent).

When it comes to protecting their investment, nearly half of all boaters surveyed (48 percent) admit they never shop around for boat insurance – but they should, because rates and coverages vary widely among insurers. In addition, specialty boat insurers offer many coverages not available through a homeowners policy endorsement.

“We know that many boaters insure their boats through an endorsement on their homeowners policy. That tells us we need to do a better job of reaching out to boaters to let them know what’s available to them,” said Hall. “The fact is, a boat is a big investment, and there’s a lot of protection available to boaters that they simply can’t get through a standard homeowners policy.”

Other interesting survey findings include:

* Boaters tend to agree on the “perfect” movie choice: The movie most boaters pick as their favorite is “The Perfect Storm” (19 percent); their least favorite is “Waterworld” (6 percent).
* To spend more time on their boat, more than half of boaters surveyed (51 percent) take Fridays off from work, while 7 percent admit they call in sick to work. And people with fishing boats are more likely than pleasure boaters to call in sick (9 percent versus 6 percent).
* Boaters aren’t afraid to wear their love for boating on their sleeves. About one in four (27 percent) wear clothing with nautical motifs.

The Progressive Group of Insurance Companies, in business since 1937, ranks third in the nation for auto insurance based on premiums written and provides drivers with competitive rates and 24/7, in-person and online service. The products and services of the Progressive Direct Group of Insurance Companies are marketed directly to consumers by phone at 1-800-PROGRESSIVE and online at progressivedirect.com through the Progressive DirectSM brand. The Drive Group of Progressive Insurance Companies offers insurance through more than 30,000 independent insurance agencies that market their products and services through the Drive Insurance from ProgressiveSM brand. For more information, go to driveinsurance.com. The Common Shares of the Progressive Corporation, the Mayfield Village, Ohio-based holding company, are publicly traded at NYSE:PGR. More information can be found at progressive.com.

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Scott Hall, boat product manager, Progressive, is available for interview.

Additional survey results and breakdowns available upon request.

Did You Know…
According to a survey by The Progressive Group of Insurance Companies…

Pleasure boat: speed boat, yacht, jet boat, powerboat, etc.
Fishing boat: bass boat, etc.

I Wish They Had A Name Book For Boats
Nearly one in four boaters (22 percent) say it was harder to name their boat than their pet or child. Twenty-five percent of pleasure boaters say this compared with 19 percent of people with fishing boats.

It’s All In The Name
Thirty seven (37) percent of all boaters have a name for their boat, but pleasure boaters are more likely than people with fishing boats to name their vessel (42 percent versus 29 percent).

What’s the inspiration behind their boat’s name? Both boater groups say their significant other’s name (14 percent). The second most popular inspiration for pleasure boaters is their occupation (8 percent), while for people with fishing boats it’s their child’s name (8 percent). Almost nobody names his or her boat after a celebrity (1 percent).

It’s A “Significant” Name
Thirty-five (35) percent of all boaters with kids name their boat, although naming their boat after their significant other is slightly more popular than naming it after their child (14 percent versus 9 percent).

When asked what else inspired their boat names, interesting names included “The Other Woman” and “Not Yet” – “Not Yet” because the person had had the boat for several years and got tired of answering the question: “Have you named the boat yet?”

Additionally, several boaters say they didn’t name their boat because it had a name when they bought it used, and they thought it would be bad luck to change the name.

Workaholics
Of all boaters who name their boat after their occupation, most are professionals (such as doctors, lawyers and engineers) followed by those in the service industry (such retail sales clerks, people in the hospitality industry, and food service workers) (14 percent and 11 percent).

Gone Shopping
Nine (9) percent of boaters spent just one day shopping for their boat before buying. People with fishing boats were slightly more likely than pleasure boaters to do so (11 percent versus 8 percent).

Older and Wiser?
Boaters over the age of 65 are three times more likely than those between the ages of 18 and 34 to shop for just one day before purchasing a boat (18 percent versus 5 percent, respectively).

The largest percentage of boaters spent about one month shopping for a boat before purchasing (30 percent).

You Better Shop Around
Forty-eight (48) percent of all boaters never shop around for boat insurance. Forty-seven (47) percent of all boaters say their boat insurance is “bundled” with another policy (e.g., home or car); a surprising 10 percent aren’t sure if it’s bundled or not.

The “Perfect” Movie
Both boater groups say “The Perfect Storm” is their favorite boating movie (19 percent); their least favorite is “Waterworld” (6 percent).

Older boaters (ages 65 and older) say “The African Queen” is their favorite movie (29 percent), while younger boaters (ages 18 to 34) say “Titanic” (26 percent).

Chick Flick
The boating movie women like most is “Titanic” (24 percent), while men most like “The Hunt for Red October” (25 percent).

Where’s The Love, Gilligan?
The Gilligan’s Island character all boaters say they’d most like to be stranded on an island with is The Professor (38 percent); only 1 percent say Thurston Howell III or Eunice “Lovey” Howell.

Not So Surprising Gender Differences
The Gilligan’s Island character women say they’d most like to be stranded on an island with is The Professor (60 percent), while men prefer Mary Ann (49 percent) over Ginger (30 percent).

To Spend More Time On Their Boat, Boaters:
1. Take Friday off from work (51 percent)
2. Work less overtime (37 percent)
3. Work fewer hours each day (23 percent)
4. Call in sick to work (7 percent)

Doctor’s Note
People with fishing boats are more likely than pleasure boaters to call in sick to work (9 percent and 6 percent).

The Lure of the Water
More than half of all boaters (54 percent) say being out on the water is the main reason they like to go boating.

Check Out Their Threads
About one in four boaters (27 percent) wear clothing featuring nautical motifs.

Can’t We All Just Get Along?
When it comes to sharing the water, most boaters say they’re considerate of each other. However, 33 percent of people with fishing boats say pleasure boaters are usually inconsiderate, while only 8 percent of pleasure boaters say people with fishing boats are inconsiderate.

Romantics at Heart
When asked with whom they most often go out on their boat, half of all boaters surveyed said their significant other (50 percent).

Leave Work at the Office
Less than 1 percent of all boaters say they go out most often on their boat with a work colleague.

In Need of Some Alone Time?
Men are more likely than women to prefer boating alone to boating in a group (25 percent versus 17 percent).

Tinkering Without The Kids
Seven (7) percent of all boaters who spend less than an hour with their kids each week spend more than five hours a week tinkering with their boat. Nine (9) percent of pleasure boaters and 4 percent of people with fishing boats admit to this.