Any entrepreneur can tell you that acquiring business insurance is a crucial, and sometimes quite stressful, part of a company’s early life cycle.
A big part of the process involves figuring out which insurance provider is a good fit for your business, which can be tricky if you don’t know exactly what you’re looking for. Progressive is one of the leading commercial insurance providers in America, but are they the right choice for your company?
In this review, we’ll discuss all the relevant details about Progressive’s business insurance offerings, including the pros and cons, how to get a quote, where they stand financially, and much more. By the time you’re finished reading, we hope you’ll have a better idea of whether or not Progressive is the best insurance provider for your company.
Pros & Cons of Progressive Business Insurance
Pros of Progressive Business Insurance
- Progressive is renowned for its commercial auto insurance policies. If your company has a vehicle fleet, Progressive’s comprehensive policies are a great option because they cover a wide variety of risks, and they’re the second-largest business auto insurance provider in America.
- They also offer a wide variety of auto insurance coverages specialized to your specific needs. From van insurance to four different kinds of truck insurance, Progressive has you covered no matter what vehicles your company uses.
- National rating agencies give Progressive very high marks for financial stability and the ability to meet their funding obligations. In other words, you’re not in danger of the company not being able to provide coverage when you need it most.
- Progressive offers significant discounts if you purchase multiple business insurance policies from them, such as a commercial auto policy and a general liability policy. In addition, you can also save some money by paying your premiums in advance.
- Their online quote-generating tool is simple and efficient, allowing you to get a quote for your desired insurance policy in around 10 minutes. Some competitors don’t have online quote tools at all!
Cons of Progressive Business Insurance
- While Progressive does underwrite their own auto insurance policies, they outsource the rest of their policies to third parties.
- Along those same lines, Progressive generates quotes for auto insurance quickly, but things get convoluted when you seek quotes for other coverages. After you fill out an online form, Progressive transfers you to a third-party website. Because this coverage is provided and serviced by a different company, you’ll need to contact that company directly for your quote.
- They do a good job of offering typical business insurance policies, like workers compensation and general liability coverage, but Progressive is pretty limited when it comes to more specialized or customized forms of commercial insurance.
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
How Can I Get a Quote From Progressive?
The answer to this question depends on what kind of quote you’re looking for. For any type of coverage other than auto insurance (and the variants listed in the previous section), acquiring a quote is in the hands of whichever third-party insurance provider Progressive redirects you to from their website.
As for their online quote system, it’s so quick and easy to use that we wish customers could use it for more than just auto policies. All you need to do is fill out some basic information on five webpages, and they’ll provide quotes for monthly or annual coverage as well as let you know how much of a down payment your policy will require. In total, it took us less than ten minutes to receive our quote.