how much is commercial auto insurance

How Much Is Commercial Auto Insurance?

Rates for commercial auto insurance vary, depending on a number of factors, including the number of vehicles, their make and model, the level of coverage you need, and the type of equipment they have. Rates can also be affected by Discounts, Exclusions, and Coverage limits. To get a quote for a commercial auto insurance policy, contact several insurers and compare rates. To save money on your insurance premium, consider using our free quote service.

Rates depend on factors

There are many reasons why commercial auto insurance rates increase. Driver safety, accident history, and more are all important factors, but the factors themselves are not the only reason for rate increases. Another factor is the type of location in which the driver is driving. Compared to a rural area, a busy metropolitan area may be higher-risk for an insurer. And coastal areas have different characteristics than landlocked zones. While these factors may not seem relevant to commercial auto insurance rates, they do influence the rates of premiums.


While the Personal Auto Policy may not have any specific coverage limits, it does have exclusions. Some of the most common exclusions are related to business use. This may include farming and ranching, as well as private passenger autos and pickups, motorhomes, vans, and trailers used in conjunction with any of these types of vehicles. Additionally, your policy may not cover any vehicle that you use as a public or livery conveyance.

Commercial auto insurance liability coverage is quite broad, but it does not cover every type of auto-related claim. A standard policy will contain 13 separate exclusions, many of which are absolute while others contain exceptions. The first exclusion relates to bodily injury or property damage expected from the standpoint of the insured. Interpretations of this exclusion will vary between states, but it generally excludes claims related to intentional acts. If you’re unsure if the exclusion covers your business, make sure to check with your insurance provider.

Coverage limits

Your commercial auto insurance policy can include several different coverage limits, depending on your needs. These limits can cover damages to your vehicles, legal fees, and other unexpected expenses. In addition, they cover injuries sustained by employees or other occupants of your vehicles. For instance, collision coverage will cover damages incurred by another driver while the owner is at fault in an accident. Depending on the limits of your policy, you may need higher bodily injury liability limits, which protect your business from liabilities for any accidents.

The per-occurrence coverage limit for a business vehicle doesn’t increase with the number of vehicles on the road. As the number of vehicles increases, however, the potential for multiple accidents increases. As a result, you might want to increase your coverage limits for both per-occurrence and aggregate accidents. Some states have specific requirements for interstate coverage. Insureon has a quick online application process to compare quotes from top U.S. carriers. Once approved, you can begin receiving coverage in 24 hours or less.


Many insurance companies offer discounts to their customers for purchasing multiple policies. In some states, you can receive a percentage-based discount for buying a combined policy with your auto insurance. Multi-policy discounts are also known as package discounts. By combining policies, you can save anywhere from 5% to 25% off your premium. There are other ways to save money, too. By comparing rates from multiple insurance companies, you can find discounts on your commercial auto insurance.

Many commercial auto insurance companies offer discounts for various professional titles, groups, and industries. You can learn about which insurers offer these discounts by asking an agent at your local office. Make sure to report any new professional affiliations when you are applying for a policy, and your insurance agent will apply the appropriate discounts. If you are a professional or an independent contractor, you can get discounts for both types of policies. You can also enroll in a UBI program if you are in a high-risk industry such as construction.

Safe driving

Commercial auto insurance can be expensive, but it’s important to know that the premiums you pay will depend on your driving history and drivers’ license. Investopedia rates Progressive as the best overall option, and their monthly rates average $188. They offer a variety of discounts, a wide range of coverage, and excellent customer service. Investopedia recommends Progressive to business owners because of their low monthly rates and excellent customer service.

For small businesses, this cost is usually less than $1,200 a year for a single car policy. However, if you own a fleet of trucks, the cost can be significantly higher. Insureon customers have reviewed thousands of insurance policies and found that most small business owners pay less than $1,500 per vehicle annually. If you want to get a quote for your policy, speak to an insurance agent. They will be able to help you find the best coverage at the best price.

Paying premiums in full

Paying premiums in full is a popular option when applying for and renewing commercial auto insurance. It avoids any installment billing charge. There are also options to make payments automatically, such as using AutoPay, which will debit your checking or savings account each month. The due date can be between the 1st and 28th, while the 12-pay option uses the policy effective date. AutoPay can also reduce the amount of money you pay on installments.

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