Business Insurance Progressive: if you’re a business owner, either a startup or an established business, you may one day type into google business insurance progressive or some other derivative of that to see what business insurance costs from progressive may be like after all flow The iconic avatar from Progressive’s frequent commercials has probably stuck in your mind and made you think low-cost or cheap business insurance, and that’s what you google: Progressive is a good insurance company.
Progressive provides insurance for businesses in 49 states and has a top-notch financial rating. However, you can’t start a claim online with Progressive directly. The way to report a claim depends on which insurer underwrites your policy and their specific filing options, as Progressive works with different insurers for its business insurance policies.
How Much Does Small Business Insurance From Progressive Cost?
The cost of business insurance is influenced by different things, such as the types of policies you require, the industry you’re in, the number of employees, and your location. For instance, if you work in a risky industry like construction, you’ll probably pay more for insurance.
The amount you decide for coverage limits and deductibles can affect what you pay. Usually, if you choose higher limits, your payments will be more. But if you go for a higher deductible, it might help to lower your payment.
The Progressive website says that, on average, new business insurance costs were $57 a month for professional liability, $72 a month for general liability, $113 a month for business owner policies, and $117 a month for workers’ compensation in 2022. But the amount you pay might be different.
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What Small Business Insurance Policies Does Progressive Offer?
Business owners policy (BOP)
Progressive’s Business Owners Policy (BOP) puts general liability and commercial property coverage together in one plan. This means the policy protects against costs from legal or medical issues if someone else gets hurt or their property is damaged, and it also covers damage to the company’s building, equipment, or inventory caused by things like windstorms, vandalism, theft, or fires. The liability part of the policy can also help with problems related to advertising and product liability claims. Additionally, Progressive might offer coverage for business interruption after a covered property loss.
The insurer claims that small and medium-sized enterprises, such as eateries, retail establishments, and contractors, should consider this alternative.
Employment practices liability
Employment practices liability deals with complaints about work problems like discrimination, harassment, and unjust firing. Unlike general or professional liability, it only deals with hiring, managing, and firing employees. It may also cover complaints about things like sexual harassment, invasion of privacy, spreading false information, or not hiring or promoting someone.
Liquor liability
This insurance is for people involved in serving, selling, distributing, supplying, or making alcoholic drinks. Regular insurance usually doesn’t cover issues related to alcohol, so businesses often add liquor liability insurance to their general policy or buy it separately. Sometimes, it’s called dram shop insurance.
How Do I Buy Small Business Insurance From Progressive?
- Begin by getting a quote online if you know what type of business insurance you need. You can do this on the Progressive website for coverages like general liability, professional liability, workers’ compensation, business owner policies (BOPs), cyber, and commercial auto. If you’re unsure about the coverage you need or need more specialized products, it’s a good idea to talk to an agent who can help you understand your options. You can also call Progressive directly to start the process.
- Ensure you provide all the necessary business details when filling out the online quote form. This might involve your address, the number of employees, your estimated yearly income, the industry you work in, any alternate names your business uses, and information about your commercial vehicles.
- Give the number given a call if you have any questions. In case you have any queries or encounter issues, the phone number is located at the bottom of the quote form.
Progressive vs. Liberty Mutual
Liberty Mutual provides insurance for medical mistakes, farms, and ranches, unlike Progressive. They also offer separate insurance plans for business properties, catering to businesses that don’t require a business owner policy (BOP), and more comprehensive policies for businesses facing complex risks.
Both insurance companies have restrictions on filing claims online for businesses. Small businesses must call Liberty Mutual to file a claim, while larger ones can use their online portals. Progressive allows commercial auto policyholders to report claims online, but other policyholders need to check their policy documents for the claims process.