Progressive Small Business Coverages Offered

It should be noted that commercial auto insurance is the only business product Progressive handles in-house. All other Progressive business insurance policies, such as general liability, property, or workers compensation policies, are sold under the Progressive Commercial Advantage program written by third-party insurers. If you purchase a small business insurance policy through the program, all associated services – including billing, claims, and customer service – are handled by the third-party insurer, not Progressive – so Progressive small business insurance reviews for all not commercial auto products are for partner companies.

They offer the following Progressive business insurance coverages:

General liability – Every small business including home-based business should have liability Insurance. This covers you if someone files a claim that your products, services or employees caused third party injuries. In this case, general liability insurance coverage will cover the attorney and investigative fees, judgment and settlement. It also covers the medical expenses of the injured parties, too. It also covers your advertising cases if, for instance, your marketing team violated another party’s copyright. Progressive business insurance ratings are good here.

Commercial Property – If you have business property such as stock-in-trade, office equipment, computers, inventory or tools, or own your business property, property insurance will cover you in the event that there’s a fire, flood, break in, theft, or vandalism etc. Property insurance coverage is a basic protection for all tangible business assets.

There are 3 types of property insurance: basic, broad, and special. Basic policies cover ordinary damages from wind or fire. Broad policies cover everything under basic policies, plus expanded coverage like water damage from mechanical or sources. Special policies cover everything other than specific events specified within the policy.

Business Income Interruption – Business income interruption insurance will cover your net profit or the “Actual Loss Sustained” if you go out of business for a period of time. For example, if your small business runs from a brick and mortar location and a fire puts you out of commission for three months, this policy will cover your net profit you would have made in those three months. Progressive commercial insurance reviews are favorable for this type of coverage.

Professional Liability – Also know as errors and omissions insurance, E&O is a vital consideration for all small businesses that give advice or offer professional services to other businesses. It covers you for anything that falls under the categories of error, negligence or malpractice as defined by your industry standards. Professionals in the fields of law and medicine are required to carry professional liability insurance. If your company does not fall into a regulated category, you may still want the protection of E and O insurance. Progressive small business insurance reviews are fair.

Workers’ Compensation – As an employer, you are legally required to buy workers comp if you have any non owner employees. Nevertheless, when accidents happen workers’ compensation insurance from Progressive can provide coverage. Workers’ comp insurance ensures that the injured workers will get medical care and compensation for the income lost while they’re unable to go back to work.

This coverage also protects the employer from law suits by workers injured while working. In addition to workers’ compensation insurance, Progressive provides additional services such as risk management and loss control services that could be beneficial to your business operation. These services are typically helpful in holding down claim costs over the long term. Progressive ratings are ok for worker comp.