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Business Insurance
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Choose from a variety of commercial business insurance options
Business insurance protects you from financial loss that could result from accidents, property damage, professional errors, workers' compensation claims, and other situations. With small business insurance coverage tailored to your needs, you're not just protected, you're prepared to face the unexpected with confidence.
Recommended insurance coverage for small businesses
Types of business insurance
Get the coverage you need for each stage of your company's development. From basic protection to specialized policies, our experts can connect you with the right insurance for your small business.
General liability is the most common insurance for a small company. It covers things like injuries, property damage, or other problems your business might cause others. Some people call this basic coverage business insurance.
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You need this coverage if you use your vehicles for business, such as traveling to job sites or making deliveries. It provides liability and physical damage protection for your company cars and trucks.
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This coverage protects both you and your employees. It helps pay for expenses, such as medical costs and lost wages, related to employees who become injured or ill on the job.
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Professional liability coverage protects businesses that offer services or advice against claims of negligence. It's also known as errors and omissions insurance (E&O).
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A BOP packages liability with property coverage into one policy. It's a common choice for small companies with commercial buildings or business personal property, such as furniture and tools.
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This coverage protects against electronic threats, such as data breaches. Companies that store or process sensitive data, like credit card info, should consider this insurance.
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Business insurance cost
In 2024, the national median cost of business insurance for new Progressive Commercial customers ranged from $42 per month for professional liability to $80 per month for workers' compensation.
How much you pay for insurance depends on things like your industry and type of work. For example, one landscaping company might only mow lawns, while another might also trim trees. Even though they're both landscapers, their risks are different so their costs will be, too.
Discover more factors that influence business insurance cost and learn how to get affordable coverage.
Customized small business insurance coverage
We offer coverage that fits your business and the risks it faces. Your policy should match your specific small business insurance needs, with limits that work for you. If your situation changes or you change your mind, you can update your policy anytime.
One-size-fits-all policies might not give your business the coverage it needs. For example, a lot of people think that general liability covers any type of business liability, but it doesn't. Understanding the difference between key types of insurance, like general liability and professional liability insurance, can help you choose the right protection.
Progressive Commercial gives you easy access to the coverages you need for your small business. We focus on customizing your policy upfront to avoid these types of problems so you can focus on what you do best.
Additional business insurance products
Whether you need coverage for your building or tools, we have options that can keep your business running smoothly. Personalize your policy with the coverages that fit your business most.
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Liquor liability insurance
Liquor liability insurance is coverage for companies that make, sell, or serve alcoholic beverages. It's also known as dram shop insurance.
Inland marine insurance
Inland marine insurance covers moveable property, such as tools, equipment, and other goods. It protects items while they're on the road or stored away from your business.
Employment practices liability insurance
Employment practices liability insurance (EPLI) protects businesses against claims related to employee discrimination, sexual harassment, and wrongful termination.
Rideshare insurance
Rideshare insurance aims to fill gaps between the insurance ridesharing companies like Uber or Lyft provide their drivers and their drivers' personal policies.
Commercial property insurance
Commercial property insurance protects the buildings and the moveable property you own and keep onsite. It's offered as part of a BOP.
Excess and surplus lines insurance
Excess and surplus lines, also known as E&S insurance, is coverage for professions that face higher risks and don't qualify for standard liability insurance, like general contractors, roofers, and tree trimmers.
Employee pet insurance
Employee pet insurance is a voluntary benefit that can help cover medical expenses for your employees' pets.
Specialized business insurance for your industry
Many professions have unique insurance needs. Whether you're an HVAC installer or an accountant, our coverages can be customized to protect your company assets.
Product liability
Product liability covers damage caused by products that you manufacture, sell, or distribute. It's also known as products-completed operations insurance. HVAC companies, plumbers, and wholesalers are just some small businesses that could benefit from this type of insurance.
Data breach insurance
Data breach insurance covers the costs of data recovery, legal fees, settlements, and more when customer data is compromised. It's a type of cyber insurance that professionals like accountants, insurance agents, and real estate agents might need to guard against cyber attacks and other breaches.
Business renters insurance
Business renters insurance protects furniture, equipment, inventory, and other business property in a leased commercial space, whether that's a store or an office. This type of protection is essential for retailers, restaurants, and auto mechanics who rent their locations.
Learn more about insurance needs in your industry.
Common questions about business insurance
What does business insurance cover?
Business insurance describes individual coverages that can protect your company. Your level of protection depends on the options you choose to carry.
For example, business insurance can refer to a single coverage, such as general liability, or many more, like professional liability and workers' compensation.
Which business insurance coverages do I need?
The protections you need depend on your unique situation, but nearly all businesses should consider general liability. It's the most common insurance and protects against various claims involving third-party injuries or property damage (e.g., slip and falls, broken windows).
Additionally, you'll probably need commercial auto insurance if you or your employees drive for work-related tasks. Most states also require you to carry workers' compensation if you have employees.
Not sure what you need? Answer five simple questions to find the insurance you should consider for your small business.
Why do I need business insurance?
You need business insurance to protect against financial loss if there's an accident. For example, say you're legally responsible for a customer's injury. Without insurance, the medical bills and legal fees could be difficult to afford. Business insurance can help you avoid large out-of-pocket costs.
Explore the benefits of business insurance for your company.
How do I renew my business insurance policy?
Most small business insurance policies renew automatically each year with payment of your renewal premium. If your insurance is up for renewal, it's a good time to evaluate your coverage and policy limits to ensure you're properly protected. Find out how the insurance renewal process works.
Does business insurance cover lawsuits?
It can. Depending on the specifics, most lawsuits are covered by liability insurance. General liability protects against third-party injuries or property damage, while professional liability focuses on negligence related to services and advice.
Do I need business insurance if I'm a sole proprietor?
Yes. Business insurance is a good idea for sole proprietors because they're personally responsible for their company's legal and financial risks. Their personal assets, such as bank accounts or property, could be affected if there's a claim against the business. Even if your company is small, having insurance can help you handle unexpected events.
Should online companies have business insurance?
Business insurance isn't required for all online operations, but most should consider coverage to protect against liability. For example, cyber insurance can cover e-commerce companies that process customer payment information or store sensitive data from damages if there's a security breach.
Is business insurance tax deductible?
Generally, yes, business insurance premiums can be tax-deductible. The IRS classifies most insurance premiums as a necessary expense, especially if they're required by your industry or profession. General liability, professional liability, and workers' comp can often be deducted.
Does homeowners insurance cover my business if my office is at home?
No. Homeowners insurance won't cover tools, equipment, and inventory used for work purposes. You can get coverage for these items with a BOP.
Can Progressive Commercial help me get business insurance in my state?
Yes. Progressive Commercial can help you find a variety of business insurance coverages, including general liability and professional liability, in all states except Hawaii. We also offer workers' compensation and business owners policies in select locations. Browse by state to see your options.
Let us help you with a small business insurance quote
We want you to feel confident and secure with your small business insurance policy. Here's just a few of the many reasons you should choose us to help you find the right insurance:
Flexibility
We can help you secure coverage at any stage of development, and have the flexibility to adjust coverages as your operation grows. Our agents will work with you to make sure you're getting protection that meets your needs and budget.
Convenience
We offer several ways to get customized business insurance. You can start a quote online, by phone, or through a local agent. Updating your policy is easy, and we can usually activate your request the same day.
Expert support
As an experienced business insurance provider and the #1 commercial auto insurer in America,* you can count on us for knowledgeable guidance and support. Our team of specially trained, in-house agents can help you every step of the way to make sure you're getting the coverage that fits your business today and tomorrow.
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