10 Things to Know About Business Auto

1. The Business Auto Coverage Form (BACF) is the most commonly used form for business auto liability insurance.Autos in the form are defined to include cars, trucks, trailers, vans or other vehicles designed for use on public roads. —Insurance Information Institute
2. The top five writers of commercial auto liability and physical damage in terms of market share for 2013 were: Travelers Companies Inc. (8.1 percent); Progressive Corp. (7.3 percent); Nationwide Mutual Group (6.3 percent); Liberty Mutual Group (6.2 percent); American International Group Inc. (3.5 percent). —SNL Financial, Fitch Ratings
3. The commercial auto insurance business is only 15 percent as large as the personal auto line. —Fitch Ratings
4. Commercial automobile insurers reported a third consecutive year of underwriting losses in 2013, when the combined ratio came in at 106. 2013 compared with 107 for 2012. —Fitch Ratings
5. Among the leading commercial auto insurance writers – Berkshire Hathaway Group, Progressive Corp. and Erie Indemnity Co. – were the most profitable in the commercial auto segment during 2009-2013. —Fitch Ratings
6. Commercial car insurance can apply to a diverse group of professions, including: plumbers; landscapers; delivery drivers; electricians; salespeople; realtors; truckers. —DMV.org
7. The personal vehicle is the dominant mode for business travel, comprising 81 percent of all trips. —U.S. Bureau of Transportation Statistics
8. Roughly 55 percent of all business trips are made by people aged 30 to 49. —U.S. Bureau of Transportation Statistics
9. Gallons of fuel wasted annually due to congestion was down nearly 12 percent on average in very large urban areas, and down more than 10 percent in large urban areas from the period between 2006 and 2011, while wasted fuel was down even more in median urban areas (-17.9 percent) and small urban areas (19 percent). —U.S. Department of Transportation
10. The average total number of miles driven by people annually is 13,467. Males (16,550) drive more than females (10,142), and the age group that logs the most miles on average is the 35 to 54-year-old group. —U.S. Department of Transportation