Is Commercial Auto Insurance More Expensive Than Personal Auto?

🚗 The MAJORITY of commercial auto insurance policies do in fact cost a little more than a typical personal auto policy. There are several factors that go in to this and in this video I discuss the most common factors that are used in rating.
Commercial auto policies tend to have significantly higher limits of liability-which is your coverage if you're at fault in an accident. The typical coverage amount is $1MM Combined Single Limit, but this can vary on how your vehicle is being used.
Commercial auto insurance carriers still use your driver history such as tickets or accidents that can affect your overall rating, just like it would on a personal policy.
The way your vehicle is being used and the vehicle weight will also play a part in your overall rating cost. For example, a limo or taxi is going to be rated a lot higher than someone who uses their vehicle to get to/from office or appointments.
As always, make sure you talk to a knowledgeable and licensed insurance agent who can help you figure out the best solutions for your specific needs.

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