The Progressive Corporation PGR is slated to report third-quarter 2021 results on Oct 14 before market open. The company delivered an earnings surprise of 29.06% in the last reported quarter.Factors to Consider Improved rates, solid policies in force and higher retention in its strong performing Vehicle and Property businesses are likely to have driven premiums in the third quarter of 2021. The Zacks Consensus Estimate for premiums earned is pegged at $12.3 billion, up 11.8%.Focus on segmentation and risk selection might have aided policies in force. The Zacks Consensus Estimate for personal lines policies in force is pegged at 23.1 million, indicating an increase of 8.7% from the year-ago reported figure.A higher invested asset base is likely to have aided investment income, partly weighed on by near-zero interest rate. The Zacks Consensus Estimate for the metric is pegged at $210 million.Improved premiums, increase in service revenues and fees as well as other revenues are likely to have fueled revenues. The Zacks Consensus Estimate for third-quarter revenues stands at $12.4 billion, suggesting 19.1% year-over-year growth.Progressive is a leading auto insurer in the United States and has one of the largest auto insurance groups. It is also the largest seller of motorcycle policies, the market leader in commercial auto insurance and one of the top 15 homeowners carriers based on premiums written. Its personal auto business is likely to have benefited from its focus on marketing and competitive product offerings as well as its strong market presence.However, its underwriting profitability is likely to have been weighed down by the catastrophe loss stemming from Hurricane Ida.Expenses might have risen on higher loss and loss-adjustment expenses, and policy acquisition costs plus other underwriting expenses. The consensus estimate for loss and loss adjustment expenses ratio is pegged at 78.The Zacks Consensus Estimate for earnings is pegged at 33 cents, indicating a 82.4% decrease from the year-ago quarter number.What the Zacks Model SaysOur proven model does not conclusively predict an earnings beat for Progressive this time around. This is because a stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). That is not the case here.Earnings ESP: Progressive has an Earnings ESP of -34.82%. This is because the Most Accurate Estimate of 21 cents is pegged lower than the Zacks Consensus Estimate of 33 cents. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.The Progressive Corporation Price and EPS Surprise The Progressive Corporation price-eps-surprise | The Progressive Corporation QuoteZacks Rank: Progressive currently carries a Zacks Rank of 3.Stocks to ConsiderSome insurance stocks with the right combination of elements to come up with an earnings beat this time around are:ProAssurance Corporation PRA has an Earnings ESP of +4.92% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.Root, Inc. ROOT has an Earnings ESP of +5.34% and a Zacks Rank #3.W.R. Corporation WRB has an Earnings ESP of +1.52% and a Zacks Rank of 3. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report W.R. Berkley Corporation (WRB): Free Stock Analysis Report ProAssurance Corporation (PRA): Free Stock Analysis Report The Progressive Corporation (PGR): Free Stock Analysis Report Root, Inc. (ROOT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research