Progressive Small Business Insurance Reviews 2021

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Progressive Small Business Insurance Reviews 2021 (Ratings, Complaints & Coverage). Progressive Insurance started in 1937 when founders Joseph Lewis and Jack Green launched Progressive Mutual Insurance Company to provide cheap and affordable auto insurance to all vehicle owners. 

After 70 years in business, Progressive has evolved and grown to one of the largest insurance providers in the US. The company operates as a subsidiary of Drive Insurance Holdings, Inc.

Progressive’s history of innovation reinforces their drive to provide insurance protection at affordable prices. Their customer focus has helped them grow into one of the largest providers of both personal and commercial auto insurance in the nation.

Since its founding, Progressive insurance has since grown from 50 initial employees to more than 27,000 nationwide representatives, plus an estimated 30,000 independent agents throughout the country. Progressive is known as one of the more innovative insurance companies, and has the distinction of being the first to introduce monthly premiums to policy holders.

In 1971, as a response to the need for affordable small business insurance, Progressive expanded its insurance offerings to include commercial auto insurance.

If you are a small business owner looking to buy liability insurance, read Progressive small business insurance reviews to learn about Progressive’s products.

Does Progressive Offer Business Insurance?

Yes, Progressive offers business insurance with a primary focus on small business commercial policies.

What Types Of Commercial Insurance Does Progressive Offer?

Progressive offers small business insurance policies including: General Liability, Commercial Property, Workers Compensation, Commercial Auto, Professional Liability, Cyber Liability, Health Insurance and others.

How Much Does Progressive’s Small Business Insurance Cost?

The average cost of commercial insurance progressive policy ranges from $22 to over $180 per month, and is mainly based on your business’s: Industry, Location, Gross Sales, Employees and/or Payroll, Policy Limits, Endorsements, Deductibles, Experience & Claims History.

Key Features

  • Customizable policies
  • Focus on small business coverage
  • Strong commercial auto coverage
  • 24 separate commercial auto packages
  • Strong general liability coverage
  • Online quotes and bill payments
  • 24/7 claims and customer support
  • Very strong ratings from A.M. & Moody

Pricing

Progressive offers a wide range of pricing options. Your exact rate will be determined by the policy you end up buying.

In 2019, the national average cost of a new 12-month business insurance policy through the Progressive Advantage® Business Program ranged from $46 a month for professional liability to $85 a month for workers’ compensation.

Your cost is based on a variety of factors including the industry you’re in and the specific types of jobs you do. For example, one landscaping company might only mow lawns, while another offers additional services such as tree trimming. They’re both landscapers, but their exposure to risk is different and will be reflected in their rates.

Relative to other business insurance providers, you get the most value for your money if you choose Progressive for their commercial auto coverage. It’s impossible to state definitively that you’ll get a better or worse rate at Progressive. As always, you’ll get a better rate if you shop around for the policies that best suit your individual business needs. You can also save more by taking advantage of any available discounts.

WHAT KINDS OF BUSINESS INSURANCE DOES PROGRESSIVE OFFER?

Progressive offers many different types of common commercial insurance policies, making them a sort of one-stop-shop for your business insurance requirements. As we’ve already mentioned a couple of times, it’s important to note that Progressive only actually underwrites their own auto insurance policies — any other form of coverage is outsourced to third-party insurers.

  • Commercial auto insurance
  • Truck insurance
  • Pickup truck insurance
  • Box truck insurance
  • Van insurance
  • Tow truck insurance
  • General liability insurance
  • Workers compensation insurance
  • Business owner’s policy (BOP)
  • Professional liability insurance
  • Business resources insurance

Pros and cons of Progressive commercial car insurance

Pros

  • Customizable coverage. Choose widespread coverage like comprehensive and general liability, or opt for specialized or limited coverage plans.
  • Industry-specific options. Get the coverage you need for your commercial trucks, tow trucks and trailers.
  • Easy online access. Report or track a claim from its website, and pay your bill online.
  • 24/7 assistance. Contact customer service for changes in your policy anytime.

Cons

  • Average customer satisfaction. Trusted consumer sites like J.D. Power rank the company average on customer satisfaction.
  • Higher premiums. The average premium for commercial insurance is around $165 per month for each vehicle — that’s higher than the national average of $100 monthly.

progressive_ratings

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.

Additional business insurance products

Liquor Liability Insurance

Liquor liability insurance is coverage for businesses that make, sell or serve alcoholic beverages. It’s also known as dram shop insurance.

Inland Marine Insurance

Originating from the early shipping industry, this is coverage for movable property, equipment, tools, supplies and various other goods during transport over land.

Employment Practices Liability Insurance

Also known as EPLI, it protects against claims related to employee discrimination, sexual harassment and wrongful termination.

Rideshare Insurance

Rideshare insurance is intended to fill the gaps between the insurance ridesharing companies, like Uber or Lyft, provide for their drivers and their drivers’ own personal policies.

Commercial Property Insurance

Also called business property insurance, it protects commercial buildings and moveable property your business owns. It’s offered as a part of a BOP.

Excess and Surplus Insurance

Insurance for businesses who can’t get coverage in the admitted market. This includes new ventures and businesses with unusually high risk. It’s also known as E&S insurance.

Employee Pet Insurance Benefit

Employee Pet Insurance is a voluntary benefit that employees can opt in to which helps cover their pets’ medical expenses.

Health Insurance

Health insurance is a benefit that lets your business offer quality medical care to your employees and their dependents.

Progressive Small Business Insurance Reviews and Ratings

Based on the Progressive small business insurance reviews & ratings below, it isn’t difficult to see why Progressive has grown to be the large, well-established company that they are today.

  • JD Power customer service ratings: 3 out of 5 (About Average)
  • NAIC: 0.89 (Better than Average)
  • AMBest: Progressive has a financial strength rating of A+ (Superior)
  • S&P Rating: AA
  • Fitch Rating: AA

Progressive’s Simple Quote Process

You can get a Progressive business insurance quote and purchase your policy online in minutes. Just answer a few basic questions about yourself, and you’ll be presented with a quote to customize. If you change your coverage limits, it’ll tell you exactly how much that will raise or lower your premium cost, which is great if you’re on a budget. Progressive small business insurance reviews are very positive about the quoting process.

Progressive’s Claims Management

Progressive offers several ways to report a claim:

  • By phone at 1-800-274-4499.
  • Online through their website, where you will require registering.
  • Through the Progressive App for mobile devices.

Get the coverage you need today.
Ca
ll For A Free Quote @ 877-907-5267

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