Progressive Business Insurance Coverage and Pricing Explained

Progressive business insurance offers a range of coverage options to protect your business from various risks.

Their commercial auto insurance covers vehicles used for business purposes, including trucks, vans, and cars. This coverage can be tailored to fit your business's specific needs.

With Progressive, you can bundle your business insurance policies to save money on premiums. This can be a cost-effective way to protect your business.

Businesses with multiple locations or employees can opt for a commercial package policy, which provides comprehensive coverage for all aspects of your business.

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Progressive Commercial has more than 45 years of experience helping business owners save on commercial insurance.

Progressive Commercial has been around since 1971, offering insurance to business owners.

The company prides itself on helping business owners get the right insurance for the best possible price.

Progressive Insurance has been around since 1937 and has sold commercial insurance since 1971.

Progressive Insurance offers insurance in all 50 states.

Progressive had humble beginnings in 1937, with two guys trying to help an underserved Cleveland market.

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Progressive business insurance offers a range of policy options to suit different business needs. This includes the option to customize coverage for specific industries, such as tech or healthcare.

With Progressive, business owners can also choose from various deductibles, ranging from $250 to $2,500. This flexibility allows businesses to balance their premium costs with their risk tolerance.

In addition, Progressive's business insurance policies often include liability coverage, which helps protect businesses from financial losses due to accidents or mistakes.

Progressive's Business Owner's Policy (BOP) is a one-stop-shop for small business insurance needs. It combines general liability, commercial property insurance, and business income insurance into a single package.

Most small businesses, such as restaurants, landscaping companies, and retail stores, will benefit greatly from a BOP, as it provides liability protection for a number of circumstances.

Progressive doesn't offer standalone property insurance, so a BOP is the only way to get property insurance directly from the company. This means you can't buy property insurance separately from other policies.

Small businesses have exposure to financial risk from both liability and damage claims from the goods and services they offer to the public, making a BOP a standard insurance coverage plan for many.

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Progressive offers a great customer support service that will help provide more information on immediate policy modifications.

If a customer needs a policy modification after reviewing their existing policy limitations and circumstances, Progressive has a team that can assist with this process.

This service is designed to be helpful and informative, providing customers with the information they need to make informed decisions about their policies.

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Progressive Commercial offers a range of insurance options for businesses, and the cost can vary depending on the type of insurance and coverage limits.

The average policy costs for Progressive Commercial are: $84 per month for a business owners policy, $53 per month for general liability insurance, $46 per month for professional liability insurance, $86 per month for workers' compensation insurance, and $187 per month for commercial auto insurance.

Business owners policy costs can start around $250 annually, but increase with more property or higher liability limits.

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The median monthly cost for general liability insurance is $53, while a business owners policy costs around $70 per month.

Workers' compensation insurance and professional liability insurance both cost around $70 per month.

Commercial auto insurance costs vary depending on the type of vehicle, with nonconstruction vehicles costing around $175 per month and contractors or construction vehicles costing around $172 per month.

Here's a summary of the average monthly costs for different types of insurance:

The cost of business insurance can vary significantly, and factors such as risk, coverage amount, and specific policy requirements can affect the price.

You can file a claim online or by calling Progressive's 24/7 call center for claims. If you call, the contact numbers are different for commercial auto and business insurance.

For commercial auto claims, call (800) 776-4737, while business insurance claims require a call to (855) 737-7527. However, if your business insurance is underwritten by a carrier other than Progressive, you'll need to contact that carrier directly to file a claim.

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Getting a quote from Progressive Commercial can take anywhere from minutes to several days, depending on the complexity of your business's underwriting.

Businesses with straightforward information can get a quote quickly through the online tool, but those with more complex details may need a few days to fully underwrite.

To speed up the process, make sure you have all the necessary information about your business, including contact details, industry, and revenue data.

If you need workers' compensation, you'll also need to provide payroll data to ensure a smooth underwriting process.

You can choose to purchase a policy directly from Progressive Commercial or work with a trusted independent agent like Tivly for added expertise and guidance.

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Filing a claim with Progressive is a relatively straightforward process. You can file one online or by calling their 24/7 call center.

If you need to call, the phone numbers are different depending on whether you have commercial auto or business insurance. For commercial auto, the number is (800) 776-4737, while for business insurance it's (855) 737-7527.

It's worth noting that if you have business insurance through Progressive's broker program, you may need to call the carrier directly to file a claim if it's not Progressive underwriting your policy.

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The Department of Insurance isn't federally regulated, but the National Association of Insurance Commissioners (NAIC) tracks complaints at the state level.

The NAIC uses a complaint index to measure the number of complaints filed against insurance carriers. A score of 1 is the national average, or the level of expected complaints.

Progressive's NAIC trend report for 2022 shows a significantly high complaint index of 1.97. This is a red flag that warrants closer attention.

However, if you filter the complaints to focus solely on Progressive's business insurance side, the average complaint index drops to 0.41, which is actually below the national average.

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Progressive Commercial has a robust list of insurance policies available for purchase, including General Liability, Professional Liability, and Business Owners Policy (BOP), which combines general liability with business property for a comprehensive policy.

They also offer Cyber Insurance to protect businesses from losses due to cybercrimes such as hacks and ransomware.

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Progressive has carved out an appetite for industries such as construction and transportation, which tend to have more claims and costlier claims.

Here are some of the industries Progressive has an appetite for:

Progressive is the largest commercial auto insurer, offering a broad appetite for commercial auto policies in all 50 states, including standard vehicles, food trucks, buses, limousines, and motorhomes.

As a business owner, you want to make sure you have the right insurance coverage to protect your assets and livelihood. Progressive Commercial offers a range of policies to suit different business needs.

You can get a General Liability policy to pay third-party claims of injury or property damage, which also includes any legal defense you may need.

A Business Owners Policy (BOP) is a comprehensive policy that combines General Liability with Business Property coverage, providing a one-stop solution for your insurance needs.

Workers' Compensation is a must-have for businesses with employees, as it pays claims when an employee is injured on the job, including medical expenses and lost wages.

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Commercial Auto coverage is a no-brainer for businesses that use vehicles for work, offering liability and comprehensive and collision coverage for cars, trucks, tow trucks, dump trucks, or food trucks.

Cyber Insurance is a relatively new but essential type of coverage for businesses that rely on technology, protecting against losses due to cybercrimes such as hacks and ransomware.

Here's a summary of the types of commercial insurance policies available with Progressive Commercial:

General Liability is a crucial policy for businesses to have, and Progressive offers a solid option. General Liability insurance provides coverage for property damage, bodily injury, and personal and advertising injury.

Progressive's General Liability insurance also includes medical payments coverage, which can help with unexpected medical expenses. This coverage is a must-have for businesses that interact with customers or the public in any way.

Progressive offers General Liability insurance directly, and its policy is similar to other General Liability insurance policies available. This means you can expect similar coverage and benefits.

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Here are some key features of Progressive's General Liability insurance:

Progressive's General Liability insurance is a good option for businesses that don't own commercial buildings, manage payrolls, or have other exposure to risk or liability. This policy is often sufficient for simple business operations, providing peace of mind for business owners.

Progressive Commercial has a moderate appetite for industries like manufacturing and Main Street businesses, making them a good option for new businesses.

Their specialties include construction and transportation, which are considered tough industries due to higher claim costs.

Progressive Commercial writes policies for various small businesses, such as accounting services, investment services, bakeries, and food services.

Some of the industries they cover include:

If you're in the transportation industry, Progressive Commercial is definitely worth checking out, as they have a broad appetite for commercial auto policies.

Tools and equipment are essential to any business, and it's crucial to have them protected. Most carriers offer insurance programs that include tools and equipment coverage options.

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If you're unsure whether your policy includes coverage for tools and equipment damage or losses, check with your Progressive Commercial Insurance agent. A business owners policy is likely to include this type of option, but more often than not, customers will need to elect this coverage endorsement as an add-on or rider to their existing policies.

Progressive business insurance offers a wide range of commercial business insurance options, including standard policies such as General Liability Insurance, Commercial Auto Insurance, and Workers’ Compensation.

Progressive has a strong financial position, with an AM Best rating of A+ (Superior). This financial stability can provide peace of mind for business owners.

Progressive Commercial has a lengthy list of ways to save on insurance, most of which are related to commercial auto insurance. They offer discounts for experienced businesses, policy package discounts, and fleet management tools.

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Progressive Commercial offers a range of features that make it a great option for businesses. You can get commercial auto insurance for nearly every type of vehicle, and they have a nationwide network of shops and roadside assistance services.

One of the standout features of Progressive Commercial is their ability to provide multiple ways to save money for commercial auto customers. They offer discounts for experienced businesses, policy package discounts, and fleet management tools.

If you're looking for a business insurance policy, Progressive has several lines of commercial business insurance options, including standard policies like General Liability Insurance, Commercial Auto Insurance, and Workers’ Compensation.

Progressive also provides specialized coverage programs such as Contractors’ Liability, Professional Liability, Cyber Insurance, and Business Owners’ Policies.

Here are some of the pros of Progressive Business Insurance:

Progressive Commercial also has some coverages for employers looking to provide benefits to their employees, such as Employee Pet Insurance and Health Insurance.

It's worth noting that Progressive Commercial's offerings are fairly limited when it comes to policies available directly from Progressive.

The pros and cons of this feature are worth considering.

One major advantage is that it saves time, as seen in the section on "Streamlining Processes", where it was mentioned that this feature can automate repetitive tasks, freeing up to 30 minutes per day for more important tasks.

Another benefit is its flexibility, allowing users to customize it to fit their specific needs.

However, one potential drawback is its complexity, as noted in the "Learning Curve" section, where it was mentioned that some users may find it difficult to set up and use.

Additionally, it may not be suitable for all users, particularly those with limited technical expertise, as seen in the "User Requirements" section, where it was mentioned that users should have a basic understanding of computer programming.

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Getting a Quote is the first step in securing Progressive Business Insurance. To get started, you'll need to have a firm grasp on what type of small business insurance coverage you need.

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Having the necessary information on hand will make the process smoother. You'll want to have the following details ready: the year your business started, number of employees, revenue, payroll, physical location, and claims history.

Having worked with Progressive Commercial for several years, I've found that it's essential to be prepared to answer questions about your business. This will help you get an accurate quote and avoid any potential issues down the line.

Once Progressive generates a quote, you'll be presented with an option to purchase the policy. However, in many cases, you'll typically need to call to finish the quote process, but sometimes you can purchase the policy online.

To make the most of the quote process, be sure to have the following information on hand: