Several factors influence the premium for auto commercial insurance, including:
- Type of business: The nature of your business and the industry it operates in can affect the premium. For example, the risk associated with a construction company's vehicles may be higher than that of a consulting firm.
- Vehicle type: The make, model, year, and value of the vehicles used by your business can impact the premium. More expensive or specialized vehicles may require higher coverage limits.
- Driving history: The driving records of the employees who will be operating the vehicles can influence the premium. A history of accidents or traffic violations may lead to higher premiums.
- Coverage limits: The coverage limits you choose for liability, collision, and comprehensive coverage will affect the premium. Higher limits typically result in higher premiums.
- Deductibles: The deductible is the amount you agree to pay out of pocket in the event of a claim. Higher deductibles generally lead to lower premiums.