Business Insurance

What is Business Insurance?

Small and medium-sized business owners know all too well the great effort it takes to get a business going and the daily diligence it requires to maintain and grow it. This is why protecting a personal and financial investment is so important. Business insurance will ensure that the work you do every day has some backup in case something happens that is out of your control.

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Just like other types of insurance, business insurance protects you from financial ruin due to unforeseen circumstances like accidents, disasters, lawsuits, or thefts. This type of insurance is designed specifically to protect businesses from suffering catastrophic losses due to unexpected circumstances or situations.


For example, if there is a fire in your building and the fire affects your merchandise, an adequate insurance plan will cover the lost inventory so that you’re not taking the huge blow.


Progressive offers a variety of business insurance options that protect your company according to each stage of its development. In other words, we offer enough flexibility so that you can customize your coverage to fit the size and stage of your business.

The Basic Coverage

There are two main types of business coverage: general liability and commercial auto. Here’s how they differ:

General liability:

This is an important coverage to have. It protects your business from liability that could occur through injuries or property damage that arise from your business. This includes malpractice or someone falling on your property and hurting themselves.

Commercial auto: 

If your business requires the use of vehicles frequently, you will more than likely need some time of commercial auto insurance. This may include businesses that use vehicles as part of their main service or to travel between sites, delivery, etc.

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Why is Business Insurance Important?

Just like your home or car, insurance for your business is designed to protect you and your property from unforeseen events. In this case, an unforeseen scenario might put your entire business and its profits in jeopardy.


The coverage helps mitigate the risk of unexpected damage that can really set your business back and even force it into bankruptcy. Some states require businesses to purchase certain protections like Workers’ Compensation insurance.

Other Common Types of Coverage

There are different types of coverage plans for your business. Each has its specific advantages and purposes. The overall costs and types of coverage also vary depending on a variety of factors. Some of the factors that affect your business coverage include profession or type of business, the number of employees, and coverage needs. In addition to some of the common types of plans, there are additional types of coverage you can choose from including flood and fire protection.



Here are some of the most common types of insurance:

Workers’ Compensation:

This type of policy covers compensation for employees who get injured on the job. It provides wage replacement and medical treatment for employees based on their injury and relinquishes their right to sue the employer.

Business Owner’s Policy (BOP):

Every business is different and the price of this coverage is calculated by taking certain factors into account. In general, a BOP will cover protection for all major property as well as general liability.

General Liability:

This policy covers the costs relating to damages or injuries that your business inflicted or caused to others. This is perhaps the most basic type of insurance and is often required for many businesses.

Professional Liability:

Also known as “errors and omissions insurance”, this coverage protects you from claims that say a service you provided caused your client financial harm because of mistakes or omissions on your part.

Get the Best Business Insurance

The first step in obtaining the best business insurance for your particular situation is speaking to a qualified representative who understands your circumstances and chooses the best policy for you. There are many factors that can affect possible premiums and policies. Progressive Insurance has a variety of options for businesses of all sizes and who are in different stages of development.


The friendly staff at Advantage Insurance will provide you with a quote as well as all of the information you need to make a decision on a policy that fits your needs. We know that insurance terminology and policy terms can often seem daunting and confusing. That’s why we’re here to help answer all of your questions and doubts! You should feel confident in your decision.

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Contact Advantage Insurance Today

Advantage Insurance is ready to help answer your questions. Call us today, get a free quote, and learn about our amazing rates and options. As a Progressive authorized agent, we understand the best policies available to business owners and want to help protect your hard work. Call us at (915) 855-2996 or find us at 11930 Vista Del Sol, Ste. A.

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