Progressive Business Insurance Review 2023: Pros, Cons, Coverage Options

Item: Progressive business insurance
Rating: 4

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

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Updated Jan 3, 2023 · 2 min read

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Progressive business insurance

4.0

NerdWallet rating

Progressive is the largest seller of commercial auto insurance in the United States, according to the Insurance Information Institute. That fact alone makes it a must-look when shopping for business auto insurance.

But for other business insurance policies — like general liability or workers’ compensation — Progressive acts as an intermediary, connecting you with other insurers. 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 personal 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:

General liability.
Professional liability.
Business owners policy.
Commercial auto insurance.
Cyber insurance.
Workers’ compensation.

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.

» MORE: Types of business insurance

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.

Commercial auto insurance policies typically include liability, physical damage, medical payments, uninsured motorist and hired auto and non-owned coverage, but you can customize your Progressive 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.

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.

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 median prices for various coverage types in 2021, as reported by Progressive.

Type of coverage	Median monthly premium
General liability insurance	$48.
Professional liability insurance	$42.
Business owners policy	$68.
Commercial auto insurance	$160.

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.

» MORE: How to get business insurance

Should you choose Progressive for business insurance?

Progressive may be a good fit for your business if:

Your first priority is commercial auto insurance. Progressive's commercial auto policies cover a wide range of vehicles and can be tailored to businesses of all sizes. The company also had fewer commercial auto insurance complaints than expected filed with state regulators between 2018 and 2021, according to a NerdWallet analysis.
Your other insurance needs are relatively simple. Progressive can help you buy basic types of insurance, like general and professional liability and workers' comp, from other insurance companies. But you'll need to shop elsewhere for specialized coverages like directors and officers insurance.
You don't mind working with an agent. You can get a quote online from Progressive, but you'll need to talk to an agent to complete your purchase.

NerdWallet recommends getting business insurance quotes from several different providers. That way, you can compare coverage details and prices before choosing the best option for your business.

Article sources

NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.

1. Insurance Information Institute. Top 10 Writers Of Commercial Auto Insurance By Direct Premiums Written, 2021.

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 2018-2021.

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.