US commercial auto insurance rates increased 3% last month, the largest increment among coverage classes, according to analyst MarketScout.

The overall composite rate index for US commercial and property insurance was minus 1%.

“While the month-to-month composite rate is stable, there is clear movement in commercial auto and transportation accounts, with each showing a year-over-year rate increase of plus 3%,” CEO Richard Kerr said.

“Insurers have decided it is time for commercial auto and transportation accounts to start paying up.”

Employment practices liability insurance and crime were the other two classes to register rate rises last month, of 1% each.

Business interruption, business owners’ policies, general liability, professional liability, directors’ and officers’ liability, fiduciary and surety were all flat.

Rates for commercial property, inland marine, umbrella/excess and workers’ compensation were down 1%.

In personal lines, the composite rate was plus 1%.

“We are in the midst of wind season, so the impact of recent storms and those still to occur will certainly influence future pricing in wind-exposed… locations,” Mr Kerr said.