Fleet Insurance for Ontario Businesses
Managing a fleet means keeping vehicles on the road and your business moving. The right fleet insurance brings your commercial vehicles together while accounting for the drivers, operations and risks behind your business.
Humberview Insurance Brokers works with multiple insurers to help Ontario businesses compare fleet insurance options and find coverage that fits their operations.
Ontario Fleet Insurance Coverage
| Third-Party Liability | Accident Benefits | Uninsured Automobile |
|---|---|---|
| Liability for injury or property damage arising from the use of insured fleet vehicles. | Benefits available following an automobile accident, subject to Ontario automobile insurance rules and policy terms. | Protection involving certain uninsured or unidentified motorists. |
| Direct Compensation Property Damage | Collision | Comprehensive |
| Coverage for vehicle damage in qualifying not-at-fault accidents, unless the coverage has been removed. | Covers damage to insured fleet vehicles caused by collision or upset. | Covers certain non-collision losses including theft, fire and vandalism. |
| All Perils | Loss of Use | Waiver of Depreciation |
| Broad physical damage coverage combining collision and comprehensive-type protection. | Helps cover eligible replacement transportation following an insured loss. | Available for qualifying newer vehicles to protect against depreciation following certain losses. |
Ontario Fleet Insurance Cost Factors
| Vehicles | Vehicle Use |
|---|---|
| Number, type, value and age of vehicles | How and where your vehicles are used |
| Drivers | Claims History |
| Driver experience, records and convictions | Previous fleet claims and losses |
Why Humberview For your Fleet Insurance?
- A Broker Who Understands Your Fleet One point of contact who understands your vehicles, drivers and operations.
- Access to Multiple Fleet Insurers We can approach different insurance markets based on your fleet and business.
- Help Beyond the Quote Adding vehicles, changing drivers, certificates, policy changes and renewal strategy all matter when you’re operating a fleet.
Fleet Insurance FAQ
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What is Fleet Insurance in Ontario?
Fleet insurance in Ontario is a specialized insurance policy that covers multiple commercial vehicles under one policy. It offers comprehensive protection and is tailored to meet the needs of businesses with a fleet of vehicles, helping to streamline management and reduce costs.
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How Much is Fleet Insurance in Ontario?
The cost of fleet insurance in Ontario varies based on several factors, including the number and type of vehicles, driving records of drivers, and coverage options chosen. But most importantly, how many claims your policy has had in the years operating. Contact us for a tailored fleet insurance quote tailored to your business needs.
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Is Fleet Insurance Tax Deductible?
Yes, fleet insurance premiums are generally tax-deductible as a business expense. Consult with your accountant or tax advisor to understand how this applies to your specific situation.
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How Can I Save on Fleet Insurance in Ontario?
To save on fleet insurance, maintain a good claims history, implement driver training programs. Regular maintenance and safety checks also help reduce risks and premiums.
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Is Fleet Insurance More Expensive than Individually Rated Commercial Auto Insurance?
Fleet insurance can be more cost-effective than insuring each vehicle individually under personal auto insurance, especially for businesses with multiple vehicles. The overall cost depends on various factors, including the size of the fleet and risk management practices.
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Does Fleet Insurance Cover Equipment and Materials in the Vehicle?
Fleet insurance typically does not cover equipment and materials inside the vehicles. Separate cargo or equipment insurance may be required to protect these items.
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Can I Use My Fleet Vehicle Personally as Well?
Using a fleet vehicle for personal use may be allowed, but it should be disclosed to your insurance broker to ensure proper coverage. Personal use may affect the terms and conditions of your fleet insurance policy.
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How Often Should I Request an Experience Letter for My Fleet?
As a business owner or fleet manager, you should request an experience letter from your insurance company annually. This letter records your fleet’s insurance history and can be beneficial for future insurance ratings and renewals.
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How Many Vehicles are Required for a Fleet Policy?
To qualify for a fleet insurance policy, your business must have five or more commercial vehicles. It’s important to note that this does not include commercial trailers; it must be five commercial power units.
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Is Fleet Insurance Cheaper than Standard Auto Insurance?
Not necessarily, fleet insurance largely depends on your account’s loss history. When rating for fleet policies, the criteria that will affect the price the most is usually how long you have been insured and how many claims have been paid out – at fault and not at fault. Other factors are important and also impact the price such as driver experience, driver tickets and accidents.
