Expanded limits help business owners save money and be more
competitive on larger projects
MAYFIELD VILLAGE, Ohio - April 18, 2012 -Progressive
Insurance is helping small business owners get a leg up on
their competition. The company has doubled the available
liability limits of its Commercial Auto policies. It now
offers options for $1.5 or $2 million. With these limits,
business owners won't need to buy a separate, costly
umbrella policy to meet the liability requirements for
"We've seen business owners struggle at times with
liability requirements on larger projects," said Cory
Fischer, commercial auto product manager at Progressive.
"Let's say a business owner with a standard $1
million policy wins a bid for a large project, but the
contract requires $2 million in liability. The business
owner's best option might be to buy a $1 million
umbrella policy to make up the difference. Sure, it meets
the contract requirements. But because most umbrella
policies have a minimum premium requirement, it comes at
quite a cost - often up to $1,000 of premium for what
otherwise might be just $200 worth of coverage."
With this option, business owners get the limits they need.
And because it's on top of the standard limits already
on their policy, they pay only incrementally more. This is
particularly valuable for businesses that are predominately
vehicle-based, such as for-hire trucker's whose
shippers require $2M in liability coverage or a trucker
hauling aggregate from a quarry to a road construction
Adds Cory, "They save time, too. Rather than having to
start at square one to buy an additional umbrella policy,
business owners can simply add the higher limits to an
existing Progressive policy. Or, they can specify those
limits when they buy a new Progressive policy."
Companies can get a quote from a local independent agent or
The Progressive Group of Insurance Companies makes it easy
to understand, buy and use auto insurance.
choices so consumers can reach us whenever, wherever
and however it's most convenient for them - online at
progressive.com, by phone at 1-800-PROGRESSIVE, or
in-person with a local agent.
Progressive offers insurance for personal and commercial
autos and trucks, motorcycles, boats, recreational vehicles
and homes. It's the fourth largest auto insurer in the
country, the largest seller of motorcycle
insurance and a leader in commercial auto
insurance. Progressive also offers car insurance
online in Australia at http://www.progressiveonline.com.au.
Founded in 1937, Progressive continues its long history of
offering shopping tools and services that save customers
time and money, like Name Your Price®, the Snapshot
Discount®, and a concierge level of claims service.
The Common Shares of The Progressive Corporation, the
Mayfield Village, Ohio-based holding company, are publicly
traded at NYSE:PGR.