The Cleveland Indians' Jacobs Field will be renamed Progressive Field now that the insurer has secured a 16-year deal to put its moniker on the ballpark.

Progressive, it was announced, will also become the official auto insurer for the team.

The company, based in the Cleveland suburb of Mayfield Village, Ohio, said it will pay approximately $3.6 million annually during the course of the deal.

Their arrangement, Progressive said, consists of naming rights, including signage inside and outside the park, as well as broadcast advertising, logos on schedules, Internet ads, and other marketing rights. The company will be the only auto insurance company featured inside the ballpark during regular season play.

Progressive President and Chief Executive Officer Glenn Renwick said in a statement: “This is a story about two Cleveland-based organizations making a long-term commitment to bring the excitement of championship baseball to the city, the fans and our people. And, for Progressive, this is about building more consumer awareness that will drive even more business to our independent agents.”