I might be able to cut our car insurance cost in half… but what’s the catch?

It’s the time of year to renew our car insurance. We don’t (at least, I assume we don’t) have a super complicated insurance situation: just 2 of us, married, both around 30 years old with 2 Subarus. One is a 2019, one is a 2021. 2 accidents in the last 5 years, neither of which were our fault- 1 the car got hit in a parking lot and needed a bumper repainted; The other someone ran a red light and totaled our vehicle. The at fault insurance paid out somewhere around $4,500-$5,000 for that one. We live in Utah and pay every 6 months.

Anyway, currently we have Allstate. The cost to renew our policy with them is $1500. Feeling like that would put a bit of strain on our budget, I decided to shop around. I haven’t sat down and gone through the coverages line item by line item yet, but at a glance they seem comparable. Farmers couldn’t beat Allstate. Progressive came in at less than half of what Allstate wants. Geico just about split the difference between Progressive and Allstate; I think that one was $798. Because of how awful they were when we had to file a renters insurance claim with them, I refuse to give State Farm any more money ever. I’m not eligible for USAA.

All else being equal, the numbers say to go with Progressive. But how can they offer the same coverage that we have now (or can they?) for less than half the cost? What am I missing here? And is there something specific that makes Allstate worth the $1500?

In essence, what’s the catch?