{"id":65,"date":"2023-10-13T13:15:53","date_gmt":"2023-10-13T13:15:53","guid":{"rendered":"https:\/\/businessyield.com\/ins\/?p=65"},"modified":"2023-10-18T19:14:23","modified_gmt":"2023-10-18T19:14:23","slug":"best-commercial-auto-insurance-providers","status":"publish","type":"post","link":"https:\/\/businessyield.com\/ins\/car-insurance\/best-commercial-auto-insurance-providers\/","title":{"rendered":"Best Commercial Auto Insurance Providers 2023"},"content":{"rendered":"

Commercial auto insurance providers deliver a form of car insurance that protects vehicles used for business purposes. If you frequently use your personal vehicle for business or if your business owns one or more commercial vehicles, then you should have commercial auto insurance.<\/p>

A growing fleet of vehicles and escalating prices have contributed to the commercial auto insurance industry\u2019s growth in recent years. According to IBISWorld, the industry experienced a 5.9% annual growth from 2014 to 2019, bringing the industry\u2019s total revenue to $46 billion.<\/p>

Also, according to the latest National Association of Insurance Commissioners (NAIC) report, the commercial auto insurance industry saw a total of $40.5 billion in direct written premiums in 2018. The largest 10 insurance groups comprised 42.6% of the total US market. <\/p>

With auto insurance being one of the most common types of insurance, these huge numbers are not surprising.<\/p>

What is commercial auto insurance?<\/strong><\/span><\/h2>

Commercial auto insurance is a type of car insurance specifically designed for vehicles used for business purposes. It is a contract between you and your insurance company that outlines how your insurance company compensates you for financial losses if a business vehicle is involved in an accident or other problem covered by your policy.<\/p>

Business vehicles can include company cars and commercial trucks and vans. Box trucks and food trucks are other examples of vehicles that can be covered by commercial auto insurance. Your personal car insurance won\u2019t pay a claim if you\u2019re driving a car for business and get into an accident.<\/p>

A commercial auto insurance policy typically includes:<\/p>