One step you should never overlook in the business formation process is acquiring the necessary insurance policies to protect your company’s assets. The vast majority of businesses with physical locations — and many home-based and remote companies as well — should have at least one insurance policy.
Finding the right insurance company for your needs is every bit as important as choosing the right type of insurance coverage. And it’s hard to break down a single “best small business insurance company” because different companies have varying needs from insurers. That’s why we put together our guide to the top small business insurers in seven different categories to help your business find the right insurance company.
Progressive topped our list as the insurer best-known for commercial auto insurance. But is this the best insurer for your small business?
Which Small Business Insurance Policies Does Progressive Offer?
The only business insurance policies Progressive underwrites itself are its commercial auto plans. Progressive does offer access to other small business policies through its Progressive Advantage Business Program. This program connects Progressive customers with third-party insurers for business owners policies (BOP), contractors liability, professional liability, cyber, and workers’ compensation insurance.
Progressive Small Business Insurance Review
Progressive is Incorporation Guru’s top overall pick for the company with the best commercial auto policies among small business insurance providers. Let’s dig into the details to find out why and determine if this is the right company to provide your small business insurance policies.
Progressive has been around for nearly a century, as it first opened for business in 1937. Ever since, this company has carved out a niche as the most respected commercial auto insurance provider in the nation. Progressive isn’t just the #1 provider of commercial auto insurance in America, but it sells so many of these policies that it’s also the #3 largest insurer in the country!
Progressive really is the total package when it comes to commercial auto coverage. There is no company with more expertise than Progressive for this form of insurance, and it also provides more options for niche auto coverage as well. For example, Progressive offers specialized coverage for specific types of vehicles, including coverage for dump trucks, tow trucks, snowplows, and more.
Another welcome aspect of Progressive’s small business insurance coverage is its offer of a discount on auto insurance for customers who also have a BOP or general liability insurance policy. You don’t even need to purchase these policies through the Progressive Advantage Business Program to take advantage of the discount!
All you need to do is carry an “in-force BOP or general liability” policy from any insurer to qualify for Progressive’s discount, which provides up to 15% off of your commercial auto insurance premiums.
Progressive pairs the industry’s best commercial auto insurance policies with strong pricing that undercuts many competitors. Its rates get even better if you have general liability insurance or a business owners policy (BOP) because of the up-to-15% discount. Overall, pricing is one of the reasons for Progressive’s popularity among business auto insurance buyers.
Our Final Thoughts
Progressive is our top pick for small business insurance customers seeking the best commercial auto insurance policies. There’s a reason this company is the #1 provider of business auto insurance in the entire country!
With a broad selection of business auto insurance policies and a ton of experience, we wouldn’t hesitate to recommend Progressive to our family and friends.
Still, if you want to take a look at our recommended insurers for other categories — such as the best options for industry-specific policies, fast claims payment, and more — take a look at our complete guide to the best small business insurance providers.