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Commercial Auto & Truck Insurance Procurement Research Report | Published: May 2014

Helping businesses make better purchasing decisions, faster

Commercial Auto & Truck Insurance: Procurement Research Report Highlights

Benchmark Price RFP/RFQ/Negotiation Questions
3-year Price Forecast Supply Chain Analysis
Supplier Intelligence Sample Buyer Decision Scorecard
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If your company is looking to save time and money during the initial stages of the buying process, IBISWorld’s Commercial Auto & Truck Insurance procurement research will provide you with the tools necessary to do just that. This report breaks down the data and analysis behind buying Commercial Auto & Truck Insurance, such as pricing dynamics, supply chain risks and external demand drivers. Your company will also gain expert negotiation tactics to help gain leverage when working with suppliers.

Report Snapshot
Price Forecast & Benchmarking
Benchmark Price
Benchmark Price
Price Change 11-14
IBISWorld Buyer
Power Score
X.X
Profit Benchmark
Profit Benchmark
Price Change 14-17
Price Change
Commercial Auto & Truck Insurance - Recent Price Trend

For one year of coverage, the average price was $9,066 per vehicle in 2010, and is $9,640 in 2013. During the three years to 2013, price had low volatility and increased at an annualized rate of 2.1%. Price growth was driven primarily by the rising inputs costs of overhead and wages. Suppliers passed on these costs to buyers in the form of higher premium rates to protect profit margins. Suppliers... purchase to read more

Commercial Auto & Truck Insurance - Total Cost of Ownership

The total cost of ownership for commercial vehicle insurance is moderate. To purchase commercial vehicle insurance, buyers have many acquisition costs. Buyers must invest at least a month's worth of time and labor to purchase insurance. Acquisition costs include communicating needs to potential suppliers, negotiating with suppliers and selecting the appropriate supplier. In addition, once a... purchase to read more

 


About This ReportRelated ReportsTable of Contents

This report is intended to assist buyers of commercial auto and truck insurance. Buyers are businesses that use vehicles for commercial functions such as errands, sales calls, cargo transportation, construction and passenger transportation. Similar to consumer vehicle insurance, commercial vehicle insurance provides financial protection against physical damage, bodily injury and liabilities that could arise from traffic collisions, natural disasters and theft. This insurance includes coverage for cars, vans and trucks, which range from pickup trucks to semitrucks. Insurance providers are insurance carriers, and agents and brokers are intermediaries between carriers and buyers. This report does not include cargo insurance, commercial property insurance or general liability insurance.



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