Cost of Business Auto Insurance

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How Much Does Commercial Auto Insurance Cost?

How much is commercial auto insurance?

Because every business is different, there really isn’t a realistic average cost of commercial auto insurance. Cost depends on a number of factors, including how much coverage you need.

Factors that determine how much commercial auto insurance costs

Some of the factors that influence the cost of business auto insurance include:

Do I need commercial auto insurance?

If you have vehicles that the business owns, leases or rents, you need commercial auto insurance. You also need commercial auto insurance for any vehicles employees own, lease or rent, if they use those vehicles while conducting business.

As a business, you probably don’t want to put your business at risk by being underinsured, such as opting for minimum auto liability coverage. Nationwide recommends at least $500,000 in liability coverage per vehicle.

What is commercial auto insurance?

Commercial auto insurance covers any injuries and damages that you or your employees, while in the scope of business, cause by or to covered vehicles, up to your policy limits.

What does commercial auto insurance cover?

A commercial auto insurance policy typically provides many of the same coverages as auto insurance for individuals, including: 

A commercial auto policy also can include coverage for cars you borrow or rent, as well as coverage for employees who use their cars for your business.

Learn more about commercial auto coverage from Nationwide.

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