ICBC’s Fleetplan
If you have 5 or more vehicles registered to the same company or legal entity, you can enroll on ICBC’s Fleetplan. Trailers can be included as well, but at least 5 of your units must be motor vehicles. If you have 20 or more motor vehicles, enrollment on Fleetplan is mandatory.
There are many financial, administrative and service benefits of Fleetplan. Your fleet can earn discounts of up to 63% on both the basic mandatory insurance and the optional insurance you carry and this can save thousands of dollars for even a modest-sized fleet. Under Fleetplan, you do not need to declare a principal operator for each vehicle, which can help avoid any breaches or disputes in the event of a claim. Claims service for fleets is available 24 hours a day, 7 days a week, and includes access to appraisers who specialize in heavy vehicles and equipment.
Garage operators can have their ICBC garage policy linked to their fleet policy to earn better discounts as well.
To discuss these and many other benefits, speak to an Acera Insurance advisor today.
Types of Cargo Insurance
- A Truckmen’s Form provides legal liability protection to a carrier for loss or damage to cargo of others while being hauled by the carrier.
- An Owner’s Form protects the owner of the cargo while being hauled on their own vehicles.
- Contingent Cargo Liability provides coverage in the event that a subcontracted carrier is held responsible for loss or damage to the goods and the subcontracted carriers’ insurance does not cover the loss.
Frequently Asked Questions
Q: What factors are considered in my insurance premiums?
A: The following are all considered when determining your insurance premiums:
- Driver’s abstracts, turnover, minimum age, and experience levels
- Types of commodities hauled by the carrier
- Claims and loss history
- Radius of operations
- Loss prevention and safety programs used by your company
Q: We sometimes broker loads. Does our Cargo policy insure us for this?
A: There is no way for you to know what insurance limits or exclusions are on the other carrier’s policy. We recommend you carry Contingent Cargo insurance to protect you when you broker loads to another carrier in case they can’t pay for any damages they cause to the goods.
Q: Can’t any broker handle my insurance?
A: Insurance for commercial trucks, trailers, and fleets is complicated and we strongly recommend dealing only with an experienced specialized insurance broker. While many brokers can process auto insurance transactions, only a few specialize in commercial auto insurance, and fewer still focus on Cargo and other types of insurance for the trucking industry.
If you have any questions or would like more information, please contact an Acera transportation risk advisor.