2024 4th Quarter Commercial Insurance Rates — An Average Rise of 5.6%

Commercial insurance rates rose an average of 5.6% in the fourth quarter of 2023.

MarketScout tracks such things and said the biggest hike was found in commercial property. Rates rose 8.3% in that line and 7% in commercial auto which had the second highest increase.

  • Umbrella / excess rates rose 6.7%
  • General liability rates saw a hike of 5.3%
  • Professional liability clients had rates go up 4.7%
  • D&O rates rose 2.7%

Work comp rates stayed even.

Source link: Business Insurance — https://bit.ly/48rBGya

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