Commercial auto insurance covers the vehicles owned by a business. The cost depends on the number of vehicles and how they are used.
For a policy limit of $1 million, the median annual cost of commercial auto insurance is $1,704, about $140 per month. The median cost offers a more accurate estimate of what your business is likely to pay than the average cost of commercial auto insurance because it excludes outlier high and low premiums.
Many small business owners (44%) pay less than $1,500 per year for commercial auto insurance. The figures in the charts below were sourced from an analysis of thousands of insurance policies purchased by Insureon small business customers.
The cost of commercial auto insurance is influenced by the number of vehicles owned by your business, the value of the vehicles, and how often they are driven. Your industry risks also affect how much you will pay for a policy.
To see commercial insurance costs for businesses in your industry, visit our industry-specific cost analyses:
If you want commercial auto insurance that pays for a wide range of damage, you will pay more for your policy. High coverage limits cost more than basic coverage. Among Insureon small business customers, the median limit is $1 million for commercial auto insurance.
Your overall insurance costs depend on which types of insurance you buy. Learn how much other small business insurance policies cost: