While the cost for most commercial insurance segments are going down, national rating agency Fitch Ratings says commercial auto insurance rates are rising at an accelerated pace. It also predicted that rates will continue to increase in the near future.
This news is probably making steam come out of your ears. Your Commercial Auto Insurance went up last year, and the year before that, and now it’s going up again! What? This may be especially troubling if none of your company vehicles has been involved in an accident for several years.
So, why are you paying More for Commercial Auto Insurance? From multiple insurance company’s studies, below are a few of the factors you cannot control that are driving up commercial auto insurance rates.
Some of these include:
Steps to Control Your Commercial Auto Insurance
The good news is that our insurance carriers are not all gloom and doom. Below are ways you can help keep your commercial auto insurance costs in line. You should start by:
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