Question

How much is commercial auto insurance?

Based on the type of business, the number, and the usage, the cost of commercial auto insurance ranges between $150 and $1000.

The businesses that use vehicles consider commercial auto insurance. This can include businesses that involve the use of mini trucks or SUVs, contractors or people doing trade, or those businesses that do cargo or other transportation of goods.  

So, if you are in a business that uses vehicles extensively, then the insurance rates will be higher than for a business that uses them seldom. Similarly, the kind of vehicle used for your business also determines the price of the insurance you pay. In addition, the driving history, the records of accidents, and the location of the business will also determine the cost of commercial auto insurance. 

Here is an estimate of the cost of commercial auto insurance based on the type of vehicles used in the business.  

• Cars, SUVs, Trucks for small businesses: $282 per month 
• Pickup trucks, cargo vans, SUVs, used by contractors: $272 per month 
• For-hire cargo trucks: $816 to $920 per month 

The estimate can vary according to the types of businesses as well. Here is an estimate of the cost of commercial insurance based on the business done. 

• Auto services: $76 
• Building design: $135 
• IT: $198 
• Food and beverage: $165 
• Cleaning services: $173 

Therefore, the commercial insurance costs remain higher due to the higher liability and the risk of the business involved. Choosing higher deductibles, choosing drivers with a clean history, bundling the policies, or bundling as a fleet can reduce the commercial insurance cost.