Purchasing a commercial auto insurance policy for your business is an important step to protecting the various areas of risk your company faces day to day. Buying commercial auto insurance isn't always simple, however — especially when multiple drivers are involved. If you have more than one driver using your business' commercial vehicles, those drivers could be influencing your commercial auto insurance rates.

While the policy may be in your name, each driver allowed to drive the insured vehicles will be considered as part of your policy. So even if your driving record and credit score are squeaky clean, your employees' may not be. Factors that influence your commercial car insurance rates include:

• Size and weight of vehicle
• Location
• Type of cargo
• Credit score
• Driving record
• Claims history
• Amount of coverage

Unfortunately, rates for commercial auto insurance only seem to be rising. Companies with a longer history of losses or insurance claims are likely to pay a high amount more than other businesses for commercial auto insurance. For the insurance company, each of these factors add up to how likely your company is to file an insurance claim. If you have drivers on the policy with bad driving records, the insurance company is likely to charge more since the drivers may file a claim due to their history.

It is crucial to conduct extensive background checks on all possible drivers both for the safety of those on the road and for your business.

How Much Is Commercial Auto Insurance?

On average, a commercial auto insurance policy may cost anywhere between $900-$1,200 per vehicle. This also depends on how much coverage you have. Generally, liability coverage comes in millions. You could pay as little as $750 for $1 million in liability with $500 deductibles for comprehensive and collision coverage. Then again, you could pay up to $1,200 per vehicle for the same coverage. Heavier vehicles and vehicles that carry hazardous materials will cost more to insure because of the unique risk these vehicles pose to other people. States generally require businesses with these kinds of vehicles to carry a higher amount of liability insurance, as well.

Save money on commercial auto insurance by taking measures such as conducting background checks and adding anti-theft protection to your commercial vehicles. Not all commercial auto insurance policies are created equal, so check with your Kevin Brewer & Associates agent. Your agent can compare quotes to find your the right policy for your needs.

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