Business Insurance Rising Costs
Business Insurance is getting more and more expensive not only due to the problems of a pending recession in the US but also because of the high accident rates on the streets. This translates to higher insurance costs for business owners who have Business Auto insurance which covers their fleet of vehicles that are included in the coverage of their policies. The AAA has confirmed that accidents on the roads with concern to business related vehicles cost businesses about $3 million per fatality. Injuries resulted in a maximum average cost of almost $70,000 with an average per person cost of above a thousand dollars. Traffic congestion is a major concern for businesses but accidents are by far the most costly for private and commercial vehicles alike.