Progressive vs Hiscox: Which Is Better? (2026)

⚡ Why use a brokerage platform instead of buying direct? These carriers let you buy directly — but you'll only see that one carrier's price. A brokerage platform like Insura shops 10+ carriers behind the scenes to find the lowest rate for your exact business. The price you pay is the same whether you buy direct or through a broker — carriers pay the broker's commission, not you.

Quick Decision Guide

Choose Progressive if:

You have commercial vehicles (trucks, vans, fleet)
Budget is your top priority (20-30% cheaper)
You're a contractor, landscaper, or trades business
You need bundled commercial auto + GL

Choose Hiscox if:

You're a consultant, tech company, or creative professional
You need specialized E&O or cyber insurance
You value white-glove service and fast claims
Your clients require premium carrier coverage

Not sure? Get instant quotes from both carriers →

Quick Comparison
Understanding the Two Insurers
Coverage Specializations
Industry-Specific Recommendations
Customer Service & Claims
Pricing and Value
Digital Experience
FAQ

Progressive vs Hiscox: Quick Comparison

Feature	Progressive	Hiscox
Best for	Contractors, delivery, vehicle-heavy businesses	Consultants, tech, creative professionals
Founded	1937 (U.S.-based)	1901 (London-based)
Specialization	Commercial auto, general coverage	Professional liability, specialty coverage
Coverage types	GL, BOP, commercial auto, workers comp	E&O, cyber, GL, BOP, media liability
Pricing	20-30% cheaper for basic policies	Premium pricing for specialized coverage
Customer service	24/7 support, agent network	Specialized underwriters, personalized service
Market share	7.13% P&C market, #2 in U.S.	FTSE 100, Lloyd's of London underwriter

Get quotes from both and compare →

Understanding the Two Insurers

Choosing the right insurance provider for your small business is one of the most critical decisions you'll make as an entrepreneur. Two names that frequently come up in conversations about small business insurance are Progressive and Hiscox. While both companies offer coverage options for businesses, they take distinctly different approaches to serving the small business market.

Progressive is the second-largest auto insurer in the United States as of the 2023 fiscal year, with 15.2% of the market, and has expanded significantly into commercial insurance. Founded in 1937, Progressive built its reputation on personal auto insurance before moving into the business insurance space. The company offers commercial auto insurance, business owners policies, and other commercial coverages primarily through independent agents and online channels [1].

Hiscox Ltd. is an Anglo-Bermudan insurance provider, listed on the London Stock Exchange, and largely specialises in niche areas of the market, offering property and casualty insurance aimed at companies and high-net-worth individuals. Hiscox has built a strong reputation in the professional liability and specialty insurance markets, particularly for small businesses, freelancers, and consultants who need errors and omissions coverage [2].

Key Difference: Progressive excels at insuring businesses with vehicles and physical operations. Hiscox specializes in professional services and knowledge-based businesses requiring E&O coverage.

Get instant quotes from both carriers →

Coverage Specializations and Target Markets

One of the most significant differences between Progressive and Hiscox lies in their core specializations and target audiences.

Progressive's strength has traditionally been in commercial auto insurance and related coverages. The company excels at providing insurance for businesses that rely heavily on vehicles—contractors, delivery services, and transportation companies. Progressive also offers business owners policies that bundle property and liability coverage, making it a one-stop shop for many small businesses with straightforward insurance needs.

Hiscox, on the other hand, has carved out a niche in professional liability insurance and specialty coverages. The company is particularly well-regarded among consultants, technology professionals, creative agencies, and other service-based businesses that face risks related to professional errors or omissions. Hiscox's policies often include cyber liability coverage and other modern business risks that are increasingly important in today's digital economy.

Industry-Specific Strengths

Which Is Better for Contractors?

For construction and trades businesses, Progressive typically offers stronger value and coverage.

Feature	Progressive	Hiscox
Commercial Auto	Superior coverage for work trucks	Limited options
Tools & Equipment	Comprehensive endorsements	Basic coverage
Contractor GL	Contractor-specific options	Standard GL only
Fleet Discounts	Available for multiple vehicles	Not applicable
Claims Support	24/7 for job sites	Business hours primarily

Verdict for Contractors: Progressive is the clear winner. Their expertise in commercial auto coverage for work trucks and competitive pricing make them ideal for most contractors.

Which Is Better for Consultants?

For professional service businesses, Hiscox generally provides superior specialized coverage.

Coverage Type	Progressive	Hiscox
Professional Liability	Limited E&O options	Industry-specific E&O coverage
Cyber Liability	Add-on available	Bundled with professional liability
Media Liability	Not available	Available for content creators
Underwriting Expertise	General underwriters	Professional services specialists
Policy Language	Standard forms	Designed for consultants

Verdict for Consultants: Hiscox is the superior choice. Consultants, IT professionals, and creative agencies benefit from Hiscox's professional liability insurance tailored to their industry.

Get professional liability quotes →

Which Is Better for Retail Businesses?

Retail businesses need property coverage, general liability, and potentially product liability.

Feature	Progressive	Hiscox
BOP Pricing	Competitive	Higher premiums
Commercial Auto	Excellent for deliveries	Limited availability
Multiple Locations	Multi-location discounts	Available
Product Liability	Standard coverage	Specialized for unique products
E-commerce Coverage	Basic cyber add-ons	Comprehensive cyber options

Verdict for Retail: Progressive for brick-and-mortar retail with delivery needs; Hiscox for specialty retail or e-commerce. Explore retail business insurance requirements.

Which Is Better for Restaurants?

Restaurant insurance requires specialized coverage including liquor liability and food spoilage.

Coverage Type	Progressive	Hiscox
BOP Packages	Comprehensive	Limited restaurant focus
Delivery Coverage	Excellent commercial auto	Not a specialty
Liquor Liability	Available	Specialized options
Cyber (Online Ordering)	Basic add-ons	Comprehensive cyber coverage
Claims Support	24/7 availability	Business hours

Verdict for Restaurants: Progressive wins for restaurants with delivery operations. See our guide to restaurant insurance requirements and costs.

Get restaurant insurance quotes →

Customer Service and Claims Experience

When evaluating insurance companies, customer reviews often focus heavily on the claims experience and overall customer service quality. This is where the rubber meets the road—how well does each company perform when you actually need them?

The NAIC compiles closed, confirmed complaint information about insurance carriers from state insurance departments, and that information is available to state insurance regulators and consumers. This data provides valuable insight into how companies handle customer concerns and complaints [3].

Progressive Customer Service

Progressive's size and established presence in the U.S. market means they have extensive customer service infrastructure, including 24/7 claims support and a large network of independent agents. Many customers appreciate the convenience of Progressive's digital tools and mobile app for managing policies and filing claims. However, as with any large insurer, experiences can vary significantly depending on the specific agent, adjuster, or claims situation.

Strengths:

24/7 claims support
Extensive agent network
Robust mobile app
Fast response times

Weaknesses:

Can feel impersonal
Experiences vary by agent
Complex commercial claims may take longer

Hiscox Customer Service

Hiscox has built a reputation for personalized service and straightforward policy language. Many small business owners appreciate Hiscox's focus on making insurance understandable and accessible, particularly for those purchasing professional liability coverage for the first time. The company's smaller, more specialized focus often translates to more tailored customer interactions.

Strengths:

Personalized service
Specialized underwriters
Clear policy language
Expert guidance for professional services

Weaknesses:

Limited after-hours support
Smaller agent network
Higher premiums

For a detailed analysis of how these companies compare, check out our comprehensive guide on Hiscox vs Progressive small business insurance.

Pricing and Value Considerations

Price is always a major consideration for small business owners working with tight budgets. Both Progressive and Hiscox offer competitive pricing, but the value proposition differs based on your business type and needs.

Progressive Pricing

Progressive often provides competitive rates for businesses that need commercial auto coverage or standard business owners policies. The company's large market share and efficient operations can translate to cost savings for customers with straightforward insurance needs. Progressive also offers various discounts and bundling options that can reduce overall costs.

Typical pricing:

General Liability: $30-50/month
BOP: $50-100/month
Commercial Auto: $100-200/vehicle/month
Workers' Comp: Varies by state

Hiscox Pricing

Hiscox's pricing tends to be competitive within the professional liability and specialty insurance markets. While professional liability policies may seem expensive compared to basic general liability coverage, Hiscox often provides good value when you consider the comprehensive nature of their coverage and the specific risks they address. Many service-based businesses find that Hiscox's policies offer better protection for their unique exposures than generic policies from larger carriers.

Typical pricing:

Professional Liability: $50-150/month
Cyber Liability: $40-100/month
General Liability: $40-80/month
Media Liability: $60-120/month

Pricing Winner: Progressive is 20-30% cheaper for basic coverage. Hiscox offers better value for specialized professional services requiring comprehensive E&O and cyber protection.

Compare rates side-by-side →

Digital Experience and Policy Management

In today's digital age, the ease of obtaining quotes, purchasing policies, and managing coverage online has become increasingly important to small business owners.

Progressive Digital Tools

Progressive has invested heavily in digital capabilities, offering online quotes, policy management tools, and mobile apps that allow business owners to access their insurance information anytime, anywhere. The company's technology infrastructure is robust, reflecting its position as a major player in the insurance industry.

Features:

Instant online quotes
Mobile app for policy management
24/7 digital claims filing
Real-time policy changes
Digital COI generation

Hiscox Digital Tools

Hiscox has also embraced digital innovation, particularly in making it easy for small businesses to get quotes and purchase policies online. The company's website is designed with small business owners in mind, offering clear explanations of coverage options and straightforward purchasing processes. Many customers appreciate Hiscox's ability to provide instant quotes for professional liability coverage without requiring extensive paperwork or agent involvement.

Features:

Online quote system
Clear coverage explanations
Digital policy management
Streamlined claims filing
COI access

Policy Flexibility and Customization

Small businesses vary widely in their insurance needs, and the ability to customize coverage is often important.

Progressive offers various coverage options and endorsements that allow businesses to tailor their policies to specific needs. However, as a larger carrier with standardized products, there may be limitations on how much customization is available, particularly for businesses with unique or unusual risks.

Hiscox has built its reputation partly on flexibility and the ability to craft policies that address specific professional liability exposures. The company's underwriters often have more latitude to consider individual business circumstances and create coverage that fits particular needs. This flexibility can be especially valuable for businesses in emerging industries or those with non-standard risk profiles.

Financial Strength and Stability

When purchasing insurance, you're essentially buying a promise that the company will be there to pay claims when you need them. Financial strength is therefore a critical consideration.

According to NAIC data, Progressive Group ranks second among property and casualty insurance groups with 7.13% market share, demonstrating substantial financial resources and market presence. The company's strong financial position provides confidence that it will be able to pay claims even in challenging economic conditions [4].

Hiscox is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index, indicating its status as a major international insurer with substantial financial backing. While smaller than Progressive in the U.S. market, Hiscox's international presence and focus on profitable specialty lines have contributed to its financial stability [2].

Financial Strength: Both carriers maintain strong financial ratings. Progressive has larger U.S. market share; Hiscox has international FTSE 100 backing.

Frequently Asked Questions

Which is cheaper: Progressive or Hiscox?

Progressive is typically 20-30% cheaper for basic general liability and BOP coverage. Hiscox commands premium pricing but offers more comprehensive specialized coverage for professional services. For example, Progressive GL might cost $30-50/month vs Hiscox at $40-80/month, but Hiscox includes more robust professional services features.

Can I get a quote online from both carriers?

Yes, both offer online quotes. Progressive provides instant quotes through their website and agents for most coverage types. Hiscox offers online quotes for professional liability and other specialty coverage, typically within 1-3 business days.

Which has better customer service?

Progressive offers 24/7 support and extensive agent networks nationwide. Hiscox provides specialized expertise with personalized underwriting for complex coverage needs. Preferences vary by business type—contractors often prefer Progressive's accessibility; consultants value Hiscox's specialized knowledge.

How quickly can I get covered?

Progressive typically provides coverage within 24-48 hours of approval for standard policies. Hiscox usually takes 2-5 business days depending on underwriting complexity for specialized policies requiring professional review.

Do both offer workers' compensation?

Yes, both carriers offer workers' compensation insurance, though availability and pricing vary by state and industry. Progressive has broader workers' comp availability; Hiscox focuses on professional services.

Which is better for professional liability?

Hiscox excels for professional services requiring specialized E&O coverage and high limits ($1M-$5M+). Progressive offers competitive options for standard E&O coverage under $1M but with less industry specialization.

Can I bundle personal and business insurance?

Progressive offers extensive bundling opportunities for personal auto, home, and business insurance with multi-policy discounts. Hiscox focuses primarily on business insurance with limited personal lines bundling.

Who Should Choose Progressive?

Progressive is ideal for:

Businesses with vehicle fleets requiring commercial auto coverage
Contractors and trades needing tools and equipment protection
Budget-conscious businesses seeking competitive rates
Companies valuing brand recognition and 24/7 support
Multi-location operations needing bundled coverage
Delivery services and transportation companies

Choose Progressive if you need affordable, comprehensive coverage with strong commercial auto options and value established carrier backing.

Get Progressive quotes →

Who Should Choose Hiscox?

Hiscox is ideal for:

Professional service businesses (consultants, tech, creative)
Companies needing specialized E&O coverage
Businesses requiring cyber liability insurance
International operations needing worldwide coverage
High-revenue businesses requiring sophisticated solutions
Firms where clients expect premium carrier coverage

Choose Hiscox if you need specialized professional liability coverage and value expertise in your specific industry.

Get Hiscox quotes →

Get Your Free Quotes Today

Ready to protect your small business? The best way to make an informed decision is to compare personalized quotes from both carriers based on your specific business needs.

Compare Progressive vs Hiscox quotes now →

Get instant online quotes, compare coverage side-by-side, and choose the insurance that's right for your business.

Why Use a Brokerage Platform Instead of Buying Direct?

When a carrier offers instant quote-and-bind on their website, it's convenient — but you're only seeing one carrier's rates. A brokerage platform like Insura changes that equation:

One application, multiple quotes. Fill out one form and get compared across 10+ A-rated carriers including Hartford, Chubb, Hiscox, and more. No need to re-enter your business info on five different websites.
The price is the same — or lower. Carriers pay the broker's commission directly. Your premium is identical to what you'd pay buying direct, and often lower because a broker can find a carrier that prices your specific risk more competitively.
We work for you, not the carrier. A direct carrier's website is designed to sell you their policy. A brokerage platform is designed to find you the best policy — we have no incentive to push one carrier over another.
Automated comparison shopping, year after year. When your policy renews, a brokerage platform automatically re-shops your coverage across carriers to make sure you're still getting the best rate. Buy direct, and you're locked into one carrier's renewal pricing with no leverage.
Licensed experts when you need them. Have a coverage question or need help with a claim? You get access to real brokers — not a carrier's customer service line reading from a script.

→ Get your free multi-carrier quote

Sources

Don't limit yourself to one carrier's price. Insura compares Hartford, Chubb, Hiscox, and 20+ other carriers — the price is the same or less, and you'll know you got the best deal. Get your free multi-carrier quote →