Ontario Commercial Auto and Fleet Insurance

Leading Ontario fleet insurance brokers

There are over 134,000 for-hire Canadian trucking companies as of 2019. Acera Insurance can provide fleet insurance plans for businesses that have five or more vehicles of common ownership. Our office has access to several of the leading auto insurance companies and we can also offer comprehensive fleet management and claims related services.

As one of Ontario’s largest independently owned insurance brokerages, with experiencing serving clients for over 60 years, our products and services are, and have always been, backed by a team of insurance professionals with extensive training. Our clients are our number one, utmost priority. That’s the benefit of working with an insurance brokerage — it’s staffed by insurance brokers who represent a wide array of insurance companies but work for you first, before any one provider.

Fleet insurance is an option for a broad array of businesses that have five or more vehicles. Your business might have five delivery sedans, or it could have well upwards of 20 trucks that it uses to move work equipment from one site to the next. When it comes to the coverage you truly need, it all depends. Acera Insurance understands that even a more specific policy like fleet insurance still needs to be customized to each business, which is what we plan to do for you and your vehicles.

Understanding Ontario Fleet Insurance

Why you need Ontario fleet insurance

Operating many vehicles as a part of your business can become costly. Every driver you put behind the wheel — whether to deliver a product or provide a service to your customers — is being entrusted with your business’ assets.

Five or more vehicles is generally considered a fleet.

With auto and fleet insurance, Ontario companies can feel good about sending their employees out on the road. You can have peace of mind knowing that a fleet insurance policy works to reduce the risks you face should an accident occur, or property becomes damaged because of negligence on the part of your driver.

What is fleet insurance?

Your fleet drives your business. Insuring your company’s commercial vehicles is not only a good idea, but also necessary to comply with automobile insurance regulations in Canada. The thing about a fleet policy is that it is designed to insure a grouping of commercial, company-owned vehicles — not just one or two. With a commercial fleet insurance policy, you may insure five or more vehicles, whether those be sedans, trucks, vans or other vehicles. 

Fleet insurance may also be referred to as business fleet insurance, motor fleet insurance or fleet auto insurance. A fleet insurance policy protects insured vehicles against the risk of third-party bodily injuries or property damage, as well as other events, such as theft and vandalism. 

A great benefit of fleet insurance is that you can easily change the whole policy, adding a new vehicle when needed, or altering coverage limits. The best way to do this is by giving your broker a quick call.

In Ontario and throughout Canada, laws about commercial insurance may differ from the laws that govern privately-owned vehicles. That being said, any commercial vehicle operated on public roads must be insured. Familiarize yourself with the regulations and requirements for your commercial vehicles before getting them licenced and insured to be sure that your organization complies with all mandatory requirements.

Here are some examples of the coverage you might get for your fleet.

Third-Party Liability

Should you or any of your employees hired to drive your company vehicles get into an accident involving one or more other vehicle(s) and be deemed partially or entirely at-fault, this portion of your fleet insurance would come into play. Third-party liability can cover you for legal expenses if you should be sued after the accident or if the injured parties seek compensation. This liability coverage extends beyond your businesses’ general liability insurance.

Accident Benefits

Car accidents can range in severity from minor bumps and scrapes to tremendous, life-altering events. If you or one of your employees gets into a collision, accident benefits can cover loss of income, medical expenses and even funeral expenses.

Canada-wide, the minimum level of accident benefits coverage is rather low when compared with medical costs and more. For a company, it’s advised you raise this amount to ensure all your company vehicles and staff are adequately insured.

Uninsured/Underinsured Automobile

Even though it’s mandatory Canada-wide to have auto insurance, some individuals choose not to carry insurance. It’s a sad reality, but one that needs to be accounted for, nonetheless. Uninsured or underinsured automobile coverage is required in some provinces, like Ontario, and covers you if one of your employees is injured or even killed by an uninsured or underinsured driver, or due to a hit-and-run. This coverage can pay for the cost of physical damages and injuries.

Collision

Although optional, collision coverage is highly recommended. If one of your company vehicles is damaged in a collision with another vehicle or an object, like a street post, this coverage would protect you from having to pay to repair any of the damages or replace the vehicle. This coverage applies whether you are at-fault or not. Collision coverate is subject to a deductible.

Comprehensive

Also subject to a deductible, and also optional, comprehensive coverage insures your vehicle if any damages result from something besides a collision or an accident, such as vandalism, water loss, theft or fire. 

We keep fleet insurance costs competitive

When you trust Acera Insurance with your fleet insurance needs, you can save money. We have access to some of the most comprehensive policies available that also offer affordable pricing. That directly impacts your company’s bottom line.

Ontario businesses can easily request a fleet insurance quote online. We make it easy for you to find the policy that is right for your business and remains as competitive as possible. Talk to our fleet insurance brokers about the size and type of auto fleet you have. We’ll then work with you to find a policy that provides both property and liability protection. Keep in mind that this type of commercial insurance can also work with your existing or other business insurance policies, and a comprehensive plan could be cost less when you bundle these services together.

Fleet insurance is an opportunity for businesses that don’t want to insure each one of their businesses individually and offers a discount on insuring multiple company-owned vehicles through a single insurer. Plus, it provides the benefits of conveniently accessing all insurance info through one spot. Similar to a commercial auto policy, commercial fleet insurance is priced based on:

• How many vehicles are insured
• The type of vehicles being insured
• The age and condition of insured vehicles
• Who is driving the insured vehicles
• How the insured vehicles are used 
• Where the insured vehicles are stored when not in use
• Coverage limits
• Business history and insurance record

Insuring a lot of vehicles at once can seem like a tremendous business cost, and while it’s an expense that shouldn’t be taken lightly, it’s a necessary one. 

Are you ready to protect your vehicles? Acera Insurance is here to help you with the fleet insurance that Ontario companies really can count on for competitive pricing and exceptional service.

Acera Insurance’s tips for saving on fleet insurance

Saving money on your commercial fleet insurance policy may look very similar to how you might save on a commercial auto or personal auto insurance policy. Consider our tips below:

• Be selective about the employees you hire to drive your vehicles. As their actions could result in an accident, you’ll want to select well-trained employees whose driving skills match their work ethic. Vet their driving records thoroughly.
• Plan to have your driving employees participate in advanced driving training courses.
• Make sure that all your fleet vehicles are regularly serviced and maintained, to avoid any wear and tear issues or unexpected breakdown, which could result in a stall in your business operations.
• Ensure your employees never park your company vehicles overnight in public lots. Instead, have them parked in private garages or storage areas, or in private lots that are fenced and monitored to avoid theft and vandalism.
• Select higher deductibles for coverage, if feasible.
• For cold Ontario temperatures, install winter tires on your vehicles from November to May.
• Like with personal auto insurance, you can likely fix smaller damages yourself. The more claims you make, the more your rates will go up. Avoid filing claims for small dents and scrapes that don’t impede driving.
• Have each one of your company vehicles equipped with anti-theft devices and car alarms to get discounted rates. You may also wish to implement tracking devices.

Working with an Acera Insurance expert commercial fleet broker is another way to save. With our expertise and our knowhow of the industry, we can get you multiple fleet insurance quotes to compare between and will get you the coverage you deserve. Fleet insurance is a great way to save money on insuring multiple commercial vehicles, and Acera Insurance can help you save even more by finding you the best coverage.

Commercial auto insurance vs. commercial fleet insurance

There is really one main difference between a commercial auto policy and a commercial fleet policy — and that’s that a commercial fleet policy offers all the same coverage of a commercial auto policy does but can insure five vehicles or more all at once. Both policies are designed to cover vehicles that are used for business purposes. Fleet insurance policies, in some instances, can also cover employees who have a valid licence, and may also cover several different types of vehicles. A business that does not have designated drivers but hires employees who may need to use different vehicles can certainly benefit from a fleet insurance policy. 

Businesses that could benefit from a commercial fleet insurance policy over a commercial auto one may include the following:

• Taxi companies
• Delivery services
• Hotel shuttles
• Moving companies
• Car rental businesses