More Vehicles on the Road

An increase in traffic and congestion due to more vehicles raises the risk of collisions, impacting insurance costs

Distracted Driving

The rise of distractions like mobile devices reduces driver awareness and decision-making, leading to more accidents and higher insurance rates

Shortage of Experienced Drivers

A lack of experienced commercial drivers results in hiring less skilled individuals, who are more prone to accidents, increasing insurance premiums

Rising Litigation Costs

An increase in auto claim litigations and larger settlement amounts from court cases drive up insurance cost

Escalating Medical Expenses

The increasing cost of medical treatments, especially surgeries and rehabilitation therapies, leads to higher insurance payouts and premiums​

Increased Vehicle Repair Costs

Advanced technology in vehicles, although enhancing safety and efficiency, makes repairs more expensive, impacting insurance rates​

Aggressive Legal Representation

More attorneys are getting involved in smaller claims, leveraging available data to prove negligence, which raises insurance rates​

Growing Number of 'Nuclear' Verdicts

Large, often multimillion-dollar legal awards against trucking fleets, known as 'nuclear' verdicts, have been increasing, significantly impacting insurance costs​

Economic and Market Trends

General economic conditions and broader market trends also play a role in determining commercial auto insurance costs​

More Miles Driven

Increased activity and miles driven by commercial vehicles, especially in improving economic conditions, elevate the risk of accidents and influence insurance costs