New Business Venture Insurance
A new business is any business that's just getting started. Whether it's still in the planning stages or you're working through your first year of operations.
Every business was once a new venture. And at Progressive, we see the potential behind each new opportunity. That's why we offer new business insurance products designed to meet the needs of your new venture.
Progressive offers a range of products designed to meet the specific needs of new ventures. And to really help you get off on the right track, we offer advice and information designed to help you make the right decisions about commercial auto insurance for your new business.
What Insurance Do I Need?
Paying for an unexpected accident can deplete cash reserves quickly. And if you can't afford to pay off an accident, people can sue against the value of your company — none of which is a good situation for a new business trying to establish itself.
That's why ensuring that you have adequate new business insurance is crucial. The first step is learning which types of new business insurance options you really need to protect your vehicle and your business.
It is also a good idea to choose limits that are high enough to protect against the value of your business. So whether you choose limits of $50,000 or $1 million dollars, your goal should be to protect not just your vehicle, but also your business too.
Some new businesses, such as general contractors, may need to meet specific limit requirements set by an employer. If you're contracting on to a company, it's important to understand any requirements they have around what insurance coverages you need and the limits that you choose.
How Do I Keep the Cost of New Business Insurance Down?
New business insurance is often one of the biggest costs for a fledgling business. At a time when keeping your expenses to a minimum is crucial, you're looking for ways to keep your insurance premium down.
From selecting higher deductibles to picking one of our Electronic Funds Transfer (EFT) payment options, there are things you can do to keep your costs lower.
Learn more about how you can lower your insurance premium.
What If I'm Just Thinking About Starting a New Business?
Investigating new business insurance options and learning as much as possible is a great idea when you're thinking about starting a new venture. The more you know, the better you can plan and the more prepared you'll be to succeed.
Progressive can help. Even if you don't know all of the details, we can give you an approximate quote that will give you an idea of what you'll need to budget for new business insurance payments.
Learn what information you need to get a quote.