Commercial auto premiums
total $28.6 billion

Commercial auto premiums totaled $28.6 billion in 2007, covering some 34.4 million vehicles, according to data compiled by MarketStance, Middletown, Connecticut. Small commercial enterprises represented the largest segment, spending some $14.1 billion on commercial auto premiums to cover its 10 million vehicles. The power of size is evidenced by the fact that national accounts spent $4.7 billion to cover 10.5 million vehicles. (The number of vehicles covered for each national account was an average of just under 700, while the small commercial accounts averaged 1.5 vehicles each.) The bill for the middle market was $7.9 billion on 5.8 million vehicles; non-employer enterprises spent $1.9 billion to cover 8.1 million vehicles.

The construction industry was the largest purchaser of commercial auto coverage at $7.7 billion, as well as having the largest number of commercial vehicles. It was followed by the services industry with $5.4 billion in premium on 9 million vehicles.

Spending on commercial auto premiums is highest in California at $3.6 billion to cover the 4.7 million vehicles located in that state. It is followed by Texas ($2.3 billion on 2.8 million vehicles); Florida ($2 billion on 2.1 million vehicles); New York ($1.9 billion on 1.7 million vehicles); and Pennsylvania ($1.2 billion on 1.2 million vehicles).

Commercial auto drivers in Wyoming logged the most miles on average at 33,452 annually; followed by Oklahoma (32,867 miles); Montana (31,971); Alabama (29,617); and Alaska (29,504).

For more information on this or other niche markets, contact MarketStance at (888) 777-2587 or e-mail at info@marketstance.com.