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On average, customers of The Hartford paid about $574 a month, or $6,884 a year, for commercial auto insurance.** Keep in mind that the cost of el seguro comercial para automóviles depends on many different factors. Each small business is unique and faces their own set of risks, so costs will differ based on your industry.
Average Business Auto Insurance Costs
In In 2022, the average annual cost for auto insurance in the United States was $1,588 per vehicle, or about $132 monthly, per vehicle.***1 Our figures are sourced from industry data and do not determine what your business might pay for commercial auto insurance. What you pay for business auto insurance will also depend on the state your business is located in.
Factors That Affect the Cost of Commercial Auto Insurance
There are several factors that may influence your business’ auto insurance cost, including the:
- Amount of coverage needed: If you drive a specialized vehicle or truck, you may need additional coverage to properly protect the specialization to your company vehicle.
- Policy limits and deductibles: The coverage limits and deductible of your business auto insurance policy will define what you pay for coverage and how much coverage you receive.
- Type of business: The cost of insurance depends on the type of business you have, how the business vehicle is used and the miles driven annually.
- Driving records: The driving history of you and your employees may impact your commercial auto insurance rates.
- Number of vehicles: The number of vehicles your company owns, rents or leases for business purposes can affect how much you pay for commercial auto insurance. If any of your employees use their personal vehicle for job duties that will also be taken into account when pricing your insurance rates.
Top Industries That Need Commercial Auto Insurance
Although coverage availability and requirements vary by state, there are many different types of businesses that can benefit from having commercial auto insurance, including:
- Business Consultants
- Tecnología Companies
- Engineers
- Photographers
- Contratistas
- Caterers
- Landscapers
- Restaurants
- Retailers
- Wholesalers and Distributors
How To Save Money on Your Commercial Auto Insurance Policy
Keep Your Risk Low
Your business can save money on insurance costs by adopting safe driving practices, like giving your employees extra driving training. You can also lower your exposure to risks by ensuring that your business vehicles are inspected on a regular basis. And finally, your company can lessen your exposure to risks by investing in newer, more reliable business vehicles.
Raise Your Deductible
Your insurance policy has a deductible, which is the amount you’ll pay out of pocket before your insurance company will cover a claim. If you choose a higher deductible, it may help lower your total cost for commercial auto insurance.
Bundle Your Policy
Bundling your commercial auto policy with other insurance coverages can help small business owners save on insurance costs. For example, you can bundle multiple types of commercial auto insurance depending on the unique needs of your business or industry.
Maintain a Good Credit History
A good credit history can help lower the cost of business insurance. A higher score typically tells insurers that you and your business are financially responsible. If you don’t know your credit scores, you can get a credit report to check them.
Common Questions About Business Car Insurance Costs
Does the Average Cost of Commercial Auto Insurance Vary by State?
Yes, the average cost of commercial auto insurance will vary depending on which state your business is located in. Some states may have different requirements for how much coverage you’ll need. In most states, it is required to have commercial auto insurance if your business owns and operates any commercial or personal vehicles that you or your employees use for job duties. Be sure to check with your local state laws to make sure you’re fully protected.
Is Commercial Auto Insurance More Expensive Than Personal Auto Insurance?
Typically, commercial auto insurance will cost more than personal auto insurance because it protects you against more expensive risks and provides a higher level of coverage. A personal auto policy usually only covers you and your immediate family members using your car for non-business driving, like errands and commuting to and from work.
How Do Limits Impact How Much Business Auto Insurance Costs?
The coverage limits in your commercial auto policy will tell you the maximum amount of money that your insurer will pay for covered claims. Typically, a higher liability limit will increase the cost of a business auto insurance policy. When choosing your limits, be sure to understand your state’s requirements.
When choosing insurance coverage, you may hear the terms “per-occurrence limit” and “aggregate limit.” An insurance policy’s per-occurrence limit is the maximum amount of money your insurer will pay out to cover a claim. In comparison, a policy’s aggregate limit is the highest amount of money that your insurance company will pay you for claims made during your policy period (typically one year).
How Does Your Industry Affect the Cost of Commercial Auto Insurance?
Your industry may affect the cost of commercial auto insurance because some industries face more risks than others. Your industry will also determine what type of vehicle you use for work and how much equipment you drive around with, which can impact your cost for insurance. For example, if you’re a landscaper who drives a specialized vehicle or truck, you may need additional types of coverage. If you own a food truck, you drive around with more equipment compared to an accountant who only drives locally for client meetings.
What Factors Influence the Cost of Commercial Auto Insurance?
It’s common for contractor-based businesses like landscapers, electricians, carpenters and other construction jobs to see higher monthly costs for insurance compared to other professions. Other factors that can influence what you pay for commercial auto insurance include the:
- Type of business you have
- Type of vehicle(s) used for work
- Driving record of you and your employees’
- Type of load the company vehicle is carrying
- Location of your company
- Amount of liability coverage you choose
What Information Is Needed for a Commercial Auto Insurance Quote?
When getting a quote for commercial auto insurance, you’ll want to be prepared with the following information:
- Your business information and industry
- Number of drivers
- All vehicles used for business
- Past claims history
Get a Quote for Commercial Auto Insurance Costs From The Hartford
We know that small business owners face unique risks. Let us help you find the customized coverage you need. Get a commercial auto insurance quote from our partner, Tivly.
Última actualización: 3 de mayo de 2024
** Premium amounts presented are based on monthly premium paid by The Hartford's Small Business customers between 1/1/22 and 9/14/23 for 12-month policies. Premium is derived from a number of factors specific to your business and may vary.
*** These cost estimates are industry averages used for informational purposes only. Estimates are based on a full coverage policy for a driver under 65 years of age with more than six years of driving experience, no record of accidents, and residency in a suburban/urban location.
1 Insurance Information Institute, “Facts + Statistics: Auto insurance” Retrieved on July 12, 2023.
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