Progressive Small Business Insurance Reviews 2021
Progressive Business Insurance Ratings
Progressive Small Business Insurance Reviews 2022 (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.
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.