A balanced portfolio is one key to investing successfully. That means diversifying your portfolio across stocks of different styles in different industries. One industry that makes for intriguing investment opportunities is insurance.

Insurance products are always in demand, whether due to regulations or people's desire to mitigate risks in life. This ongoing demand can make insurers steady investments that are also good hedges against inflation.

If you've overlooked the insurance industry and want to add exposure to it, (NYSE: PGR) is one stock I would buy first. The company is one of the best in the game at what it does. Here's why it would be an excellent addition to your portfolio.

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Source Fool.com