Commercial Car Insurance Rates

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How to Find the Best Commercial Auto Insurance for Your Business

As a smart business owner, you know that getting the best commercial insurance is a top priority. If you are starting a business, have acquired new vehicles, or your business insurance needs have changed, now is the time to review your commercial vehicle insurance options. Whether your business uses a car, delivery van, dump truck, tractor trailer or an entire vehicle fleet, be sure to compare commercial auto insurance quotes to find the best fit.

Finding the best auto or truck insurance policy is not a simple task. Prices for commercial vehicle insurance vary considerably from one carrier to another. The difference in price to insure one car, a large truck, or a fleet of delivery vans will be something for you to consider as you purchase a policy. It is important to compare commercial auto insurance quotes from multiple sources to find the best coverage and value. Contact a local member agent in the Trusted Choice® network who specializes in commercial insurance to find the right business vehicle insurance for your needs.

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How to Get the Best Commercial Auto Insurance Quotes

  • Hire experienced drivers with good driving records
  • Choose sensible vehicles
  • Accept higher deductibles
  • Install safety devices in your vehicles
  • Require your drivers to attend driver safety trainings
  • Work with an independent insurance agent who can tailor a policy to your needs

How to Compare Commercial Vehicle Insurance Rates

When you need to insure a commercial vehicle, such as a limo, bus, taxi, or truck, there will be many coverage options to choose from. A quick review of online insurance offers will demonstrate how sensible it is to shop around. However, it can be overwhelming to compare commercial auto insurance rates without the help of an independent agent. Every insurance carrier offers different coverage options and rates, and comparing multiple insurance options is time consuming.

An independent agent specializing in commercial vehicle insurance can do all the legwork for you. These agents have relationships with several insurance carriers and can review options for you, making it a much simpler process. Additionally, they can help with every aspect of your business insurance needs, so you can get all of your commercial auto insurance quotes and more in one place.

Tips to Help You Compare Commercial Vehicle Insurance Prices

As a business owner, you want to be sure to get the best value for your money. Use these tips to compare commercial vehicle insurance prices, get the most accurate quotes, and make an educated choice on the best coverage for your company:

  • Review your employees’ driving records. Consider requiring remedial training for any drivers who have had safety incidents, traffic infractions or accidents.
  • Make a list of your vehicle types and uses. For example, if you have a fleet of vans or trucks, do they transport people, food, goods, or other vehicles?
  • Record the mileage of each vehicle. How far each vehicle travels each year in the course of doing business will affect risk and premium cost.
  • Work with an agent, not an 800 number. Insurance companies offer special savings based on reduced risk factors. You won’t find the discounts available to you without speaking to a knowledgeable insurance professional.

Additionally, take as many measures as possible to improve driver and vehicle safety, reduce the risk of incidents, and remain claim free. Managing risk and reducing the likelihood of incidents will keep your employees and vehicles safe, protect your business investment, and result in the best commercial vehicle insurance rates.

Find Commercial Auto Insurance for Any Business

The size of your business is an important consideration when you are trying to find the best commercial auto insurance. The specifics of your policy will depend upon the number of vehicles that you use, the types of vehicles, and your use of the vehicles. A taxi or limo, for example, will have a higher premium than a company car, but lower than a commercial truck such as a tractor trailer.

It is important to review commercial auto insurance rates even if you are self-employed. Your personal vehicle insurance is unlikely to cover accidents involving the vehicles you use for your business. Commercial accidents while you are transporting employees, customers or goods can even leave you personally responsible for large scale damages.

If you run a larger business with a fleet of cars, delivery vans, trucks or other commercial vehicles, be sure to compare quotes on commercial fleet insurance. One policy may allow you to make a claim on incidents involving any of your business’s vehicles. You can also typically arrange a single deductible for any equipment that you haul in your company vehicles.

When Do You Need Different Commercial Vehicle Insurance?

As soon as you employ a new driver or add another vehicle to your business, it is important to update your coverage. When changing or adding to your fleet, you may want to compare commercial vehicle insurance rates and consider finding a better value or a new policy that more closely matches your needs.

For example, if you upgrade to a new or better truck, the conditions of your policy may be affected, so it is important to review the coverage you would need in the event of an incident.

A change in the location where you send your delivery drivers, the roads they use, or the cargo they haul, can all impact your policy. You may think that your insurer is already aware of obvious changes such as a new address. However, it is your duty to inform your agent or insurance company of change to ensure that there are no interruptions in coverage or difficulties processing your claims after an accident.

Find Commercial Auto Insurance Quotes Tailored to You

There are several factors that you need to consider when searching for a new commercial vehicle insurance policy. An independent agent in the Trusted Choice network can help. These agents work with multiple insurance companies and can or do the comparison shopping for you, to save you time and aggravation. Member agents work with the best insurance companies and can find the right coverage at an affordable rate.

Trusted Choice member agents who specialize in commercial lines of insurance can help you with all of your business insurance needs. You can have one single agent to work with for every aspect of your business insurance. A member agent can assist you with property insurance, product insurance, fraud protection and many types of liability coverage.

Find a local Trusted Choice member agent in your area today to help you compare commercial auto insurance quotes and find the best fit for your business.

Commercial Vehicle Insurance Cost

How Much Does Commercial Vehicle Insurance Cost?

When owning and driving vehicles is central to your business, commercial vehicle insurance rates are a major consideration. Finding average commercial vehicle insurance rates is not an easy task because there are so many variables affecting the cost of coverage. While you may find online insurance websites that provide quotes for your commercial car, bus, taxi or truck, the details of the coverage are often hidden from view.

Your premium costs are affected by many factors, including the type of vehicle your company owns and the risks involved. Low priced online quotes may not accurately reflect the coverage you need for the potentially large liability involved in commercial incidents. Find an agent in the Trusted Choice® network today to get commercial insurance quotes that are relevant to your business at a rate you can afford. These agents can shop for the best rates, find discounts, and combine multiple business policies in order to simplify your life and save you money.

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Average Commercial Vehicle Insurance Rates

  • Commercial car insurance cost: $1,200 to $2,400
  • Commercial truck insurance cost: $800 to $2,000
  • Commercial taxi insurance cost: $5,000 to $10,000
  • Commercial bus insurance cost: $35,000
  • Commercial tractor trailer insurance cost: $2,500+

What Determines Your Commercial Vehicle Insurance Rates?

Your commercial vehicle insurance rates will be affected by a number of factors, including the following:

  • The driving records of all drivers: Insurance companies often have specific underwriting requirements, particularly for those who will be driving heavy duty trucks such as tractor trailers. Drivers with several driving violations may cost your company much higher premiums, or may prevent you from getting the insurance you need. Hire qualified, skilled, claims-free drivers to both lower your rates and reduce your risks.
  • The value of your car, truck, van, taxi or limo: Many business owners consider premium rates when choosing vehicles to add to their fleet. You can research average rates by contacting a local member agent in the Trusted Choice network. Assessing the commercial auto insurance costs for a particular vehicle prior to buying can make a big difference in your annual insurance costs. Your premiums will also be affected if your truck has more features.
  • The structure of your policy: If you buy each of your commercial policies separately, you will typically pay more than if you insure your commercial vehicles together under one insurance company. You can typically reduce the cost of your premiums by bundling them together for a multi-policy discount. Insurance companies also often provide bulk discounts depending on the size of your fleet.
  • Driving location and distance. How far you and your employees drive impacts your commercial auto or commercial truck insurance costs. The more miles that your fleet travels, the higher your risk of being involved in an accident. Insurance companies take this into account when they calculate commercial insurance rates.

Manage Your Commercial Auto Insurance Costs

Businesses use vehicles for many different purposes. For instance, a construction company may have a company car that travels from one job site to another, as well as several commercial trucks to haul lumber and building supplies. Your commercial vehicle costs will be affected by your liabilities with regard to each of these vehicles, the potential loss in the event of an accident and other factors.

It is a good idea to do an annual review of your insurance portfolio, commercial vehicle inventory, drivers and commercial vehicle insurance rates as many things can change. You may qualify for additional discounts, for example, if your company remains claim-free. If your use of your cars, trucks or other vehicles has changed, you want to make sure you are not paying too much for coverage; by the same token, you’ll want to make sure your coverage is fully updated to match your needs and there are no coverage gaps.

One of the most important coverage types to assess on a regular basis is your company liability. Because lawsuits involving commercial vehicle accidents can result in very large judgments, making sure your commercial vehicle liability is adequate is essential. Many business owners who have one or more commercial vehicles consider purchasing a commercial umbrella policy to cover excess liability costs above what is built into a standard policy. An umbrella liability policy will increase your commercial insurance costs, but it can be a surprisingly affordable policy for the amount of protection it provides.

Find Commercial Vehicle Insurance Rates to Match Your Budget

A local independent agent in the Trusted Choice network who specializes in business insurance can help you find a commercial auto insurance policy at a cost that matches your budget. Member agents in this network partner with several different insurance companies, and can help you to compare options and prices and make an informed choice.

Your commercial insurance agent can answer any of your questions and work with you to protect your property and your employees. Contact a Trusted Choice member agent now, and get the support you need to find the right commercial vehicle insurance rates for your business.

Commercial auto insurance

What’s covered by commercial auto insurance

Commercial auto insurance covers injuries that you or your employees may cause to other people and their property while driving. A typical commercial auto policy may include:

  • Liability coverage
  • Medical payments coverage
  • Comprehensive coverage
  • Collision coverage
  • Uninsured and underinsured motorist coverage
  • Coverage for vehicles you rent or borrow
  • Coverage for employees who use their cars for business

Determining what you need

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Businesses like yours

See what other companies in your industry typically choose for coverage.

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What we cover

Customize your commercial auto policy.

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What will it cost?

Each policy is customized to your needs. You’ll need to contact an agent for an accurate quote.

3 Tips to Buy Cheap Commercial Auto Insurance

Buying personal auto insurance can be daunting, and in the same way, purchasing commercial auto insurance can also be a challenge.

The trick is realizing you are not insuring yourself, but your fleet of vehicles and your employees who are driving those vehicles. The same tools used to evaluate yourself when purchasing personal coverage should be used when purchasing for your company.

If commercial coverage is what you are looking for, simply enter your zip code in the FREE box above to receive quotes now!

Commercial Auto Insurance Facts

Commercial auto coverage is very similar to personal auto coverage. Many of the same liabilities covered by personal insurance are covered by commercial policies.

The major exception between the two types of coverage is eligibility requirements.

If the vehicle you are looking for coverage is driven in a commercial capacity, meaning you transport goods/people for a fee or you typically transport a large value of items, you must obtain commercial vehicle coverage.

Understanding commercial auto insurance is at its most basic level is the first step before purchasing a policy. Information can be found about various insurance policies and state regulations at your local DMV.

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Evaluating Your Drivers

One tip for finding cheap commercial auto insurance is identifying what type of drivers you have employed. Similar to personal auto coverage, companies base their premiums and quotes on driver histories.

If you are looking to hire a new driver for your fleet, consider acquiring a driving record from your local DMV.

This request will give you information about accidents, tickets, and other types of driving-related issues your potential hire has in their history.

Recognizing how insurance companies develop premiums for customers is important. A very helpful website from Rocky Mountain Insurance Information Association has information regarding the average cost of auto insurance throughout the United States.

Evaluating Your Fleet

Another consideration regarding your drivers is whether they are commercially licensed properly. Many insurance companies will offer discounts to drivers who have their Commercial Driver’s License or CDL.

When interviewing potential employees, ask questions regarding their licensing; this could save you money in the long run.

A second tip to consider is evaluating what kind of fleet of vehicles you are looking to insure. As with personal auto coverage, the more expensive the vehicle is the higher the premium will be.

When looking to purchase commercial auto coverage, look at the vehicles you currently own. In addition, consider what types of vehicles will be purchased shortly after acquiring the insurance policy.

If you have a fleet of older trucks, your policy choice and deductible options may vary, thus varying your overall premium price.

Also, note that premiums will vary widely, depending on the insurance company. Consider the type and size of the company and how well they are equipped to cover your assets. Bigger companies may have higher premiums, but they also have more capital to cover their customers’ claims.

Finally, consider the amount of deductible you are willing to pay. The higher the deductible, the lower your monthly premium will be.

Again, consider your fleet of vehicles and your drivers, evaluate how much your budget is willing to pay for your deductible and then make your decision.

Types of Vehicles

Many companies will offer a variety of insurance depending on the type of vehicle. Business auto coverage, which covers small, compact cars and trucks that handle basic travel, is one example of auto-specific coverage.

Other examples are pickup truck insurance, tow truck insurance, commercial truck insurance, and dump truck insurance. All of the various coverage options will vary in pricing, especially for the vehicles that handle dangerous travel conditions on a consistent basis.

If your fleet of vehicles consists of a wide range of types, purchasing similar commercial coverage for each vehicle could also save you money. Also, if you bundle multiple vehicles together, even if they are different vehicle types, will save you money.

Evaluating the Insurance Company

A third tip for finding quality commercial auto insurance is evaluating the insurance company itself. Deciding on the right insurance company to cover your assets is vitally important. When discussing coverage options with an agent, remember that they are attempting to sell you coverage.

That means they may not give you full disclosure on the company itself. Doing background research on individual insurance companies is a smart move.

Government groups like the Better Business Bureau can provide quality information regarding companies, especially the smaller, locally owned agencies. You can find information on their website.

Investigate any discounts insurance companies offer. Discounts vary from company to company, and some can save you quite a bit of money.

From bundling policies together, to driver’s license discounts, to being in business for a certain number of years, companies offer all kinds of discount incentives.

When shopping around, ask questions about possible discounts. There is also a wide range of information on auto insurance at the American Association of Motor Vehicle Administrator’s website.

Other Money-Saving Tips

Some insurance companies offer other discounts related to how you pay for your policy. Sometimes you can receive a discount for paying online or by an electronic funds transfer.

Other times, you can receive a discount by paying for your policy in full when you first make your purchase.

Many insurance companies offer percentage-based discounts for customers that combine personal and commercial policies. Most of the time, these are referred to as package discounts or multi-policy discounts.

Another thing to consider is where you live.Based on the state in which your company is located, insurance rates and premiums may vary. To find out further information and details regarding individual state insurance regulators, visit A.M. Best’s website.

There is a wealth of information regarding state-based auto insurance policies and national policies at the American Insurance Association’s website. The AIA has a database of web links that will give you access to quality information.

Finally, considering the type of business you own will also impact which insurance companies will cover your vehicles. For many companies, rates and premiums are based on the type of business you own.

If you happen to own a business that deals with high-risk driving situations, your quotes will be higher. Finding companies that offer quality discounts, in addition to quality prices for your individual business type, will save you money.

Understanding Insurance

Having a basic understanding of how auto insurance works, how companies price policies, and how to evaluate your situation is the first step in finding cheap commercial auto insurance. Keep in mind that every company has different needs.

Although finding quality auto insurance can be a hassle, by doing your homework and being prepared and educated, you will save money.

Just remember to consider all of the various elements that go into the auto insurance industry and understand your situation first.

To find quality, affordable commercial auto insurance quotes, enter your zip code in the box below!

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