Progressive Business Insurance Review 2022: Pros, Cons and Coverage Options

Consider Progressive if you want to bundle business insurance with a new or existing auto insurance policy.
Aug 11, 2021

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Progressive business insurance

4.0

NerdWallet rating 

Progressive is the largest seller of commercial auto insurance in the United States. That fact alone makes it a must-look when shopping for business auto insurance. But Progressive simply serves as an intermediary for other types of business insurance, like general liability or workers’ compensation. You’re better off going directly to the source for that coverage, unless you plan to bundle your business insurance with an existing Progressive car insurance policy.

Progressive business insurance: Pros and cons

Pros

Cons

Commercial auto insurance covers a wide range of vehicles and uses, including dual personal and business use.

Most business insurance policies are through a third party.

Discounts available when you bundle business and auto insurance.

Can’t file a claim through Progressive (except for commercial auto).

Progressive business insurance: Types of coverage

Progressive offers the following coverage options for small-business owners:

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Most of the business insurance policies offered by Progressive are through a third-party insurer that provides the quote, underwrites the policy and ultimately handles any claims that arise. The exception is Progressive’s commercial auto insurance, which is handled in-house.

Beyond those core business insurance products, Progressive also offers liquor liability insurance, rideshare insurance and inland marine insurance, among other options.

Progressive offers business insurance in all 50 states but doesn't offer coverage in Washington, D.C.

Progressive general liability insurance

Progressive offers general liability insurance through a third-party insurer. You can get general liability as a stand-alone policy or bundle it with commercial property insurance through Progressive’s business owners policy.

General liability insurance is recommended for all business owners. It typically covers bodily injury, property damage and personal injury, such as libel, slander or copyright infringement. Progressive general liability insurance also covers claims related to products you manufacture, sell or distribute, as well as faulty work completed by your business.

Liability coverage applies only to third-party claims: if a customer falls and is injured at your store or your employee breaks a customer’s window while on a job site, for example. It doesn't cover damage to your property or injuries to your employees, or protect against claims of negligence or professional mistakes. Additional coverage, such as commercial property insurance, workers’ compensation and professional liability coverage would be required.

Progressive commercial auto insurance

Commercial auto and truck insurance is the only business coverage offered directly through Progressive, so policyholders can take advantage of the company’s 24/7 customer service (available online and by phone) and earn a variety of discounts.

Progressive business auto insurance quotes typically include liability, physical damage, medical payments, uninsured motorist, hired auto and non-owned coverage, but you can customize your coverage to meet the needs of your business. Specific coverage options for commercial trucks include earned freight coverage and trailer interchange insurance.

Progressive insures the following types of commercial vehicles:

  • Cars and SUVs, including those with dual use (personal and business).

  • Motor homes and RVs.

  • Buses.

  • Limousines.

  • Tractor-trailers.

  • Pickup trucks.

  • Tow trucks.

  • Box trucks.

  • Dump trucks.

Progressive doesn't offer commercial auto insurance for emergency vehicles, race cars or wheelchair buses, among other specialty vehicles.

How much does Progressive business insurance cost?

It’s difficult to predict the cost of business insurance, as rates vary widely depending on coverage, location, business type and associated risk factors, but a ballpark figure is helpful to index against as you shop for coverage.

Below are average prices for various coverage types in 2020, as reported by Progressive.

Type of coverage

Average monthly cost

General liability insurance

$53.

Professional liability insurance

$46.

Business owners policy

$84.

Commercial auto insurance

$187.

You can get a business insurance quote online by supplying a few details, including your business name, physical address and years in operation. You also may need to provide revenue and payroll estimates, as well as gross sales numbers, depending on your business and the coverage selected.

Methodology

Business insurance ratings methodology

NerdWallet’s business insurance ratings reward companies that offer small-business owners reliability and ease of use. Ratings are based on weighted averages of scores in several categories, including financial strength, customer complaint data, shopping experience and customer service. Learn more about how we rate small-business insurance companies.

These ratings are a guide, but insurance policy details and prices can vary widely from business to business and provider to provider. We encourage you to shop around and compare several insurance quotes.

NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020.

To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period.

Our star ratings consider ratios for both general liability insurance and commercial property insurance. When an insurer sells policies that are underwritten by several different insurance companies, we consider the NAIC complaint ratios of all the underwriters.