Commercial Auto Insurance For Ontario Businesses
If you transport goods or paying passenger in Ontario, commercial auto insurance will protect you from property damage and liability claims on the job.
Insurance companies consider business vehicles differently from personal vehicles. Commercial vehicle insurance policies are set up based on the specific business situations that the vehicle will be in that you would not be undertaking while driving for personal reasons. If you don’t have any type of commercial auto insurance and get into a car accident while on business, your insurance company may not cover the damages.
Whether you are the sole proprietor of your vehicle, manage an entire fleet, or are a long haul trucker driving a big rig, only commercial auto insurance will protect you from driving-related business losses. Commercial auto insurance coverage is necessary for:
- Food trucks
- Company cars
- Buses, coaches
- Box and flatbed trucks
- Trailers used to transport cargo
- Tow trucks
- Dump trucks
- Cement Mixers
- Garbage Trucks
- Taxis, Uber, and limousines
- Delivery vehicles
- …And any other vehicle used for business
As a business owner, you need to keep your vehicle on the road delivering products and visiting customers without delay or interruption. Since traffic accidents occur every day, business auto insurance gives your company the financial protection it needs even if you are using your own personal vehicle. Personal car insurance does not cover liability or property losses when your vehicle is used for commercial purposes, so business car insurance is a necessary investment.
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What Does Commercial Auto Insurance Cover?
Similar to the policy for your own personal vehicle, a commercial auto insurance policy in Ontario offers coverage on the following:
- Medical expenses and loss of income in the event of injury to you, your drivers, or passengers.
- Loading and unloading liability to protect against losses or damage to cargo.
- Replacement vehicle coverage to prevent loss of work hours when your commercial vehicle is being repaired.
Commercial Vehicle Insurance That Suits Your Needs
The type of commercial auto insurance policy best for you depends on the type and size of your business, and how many people will be driving your vehicles. The insurance requirements of a cab company, for example, will be quite different than the insurance needs of an HVAC company.
As your commercial broker, we’ll find you a commercial auto insurance policy that matches:
- How you use the vehicles: If a salesperson, for example, is driving a car or SUV throughout the day on a daily basis then a business car insurance policy would be appropriate.
- The types of vehicles being used: If a contractor or service person is driving a truck or van to job sites carrying tools and equipment with them, then you may be eligible for commercial rates.
- How many vehicles are being used: If you have 5 or more vehicles all registered under one company name, you may be eligible for fleet insurance. This puts you in a ‘volume buying’ position allowing an insurance broker to negotiate with various insurance companies to get you the best rate possible.
- Do you have 100 employees or more?: Large companies can have group plans designed for their specific needs. An insurance broker can negotiate with many Canadian insurance companies on your behalf for the lowest rates possible.
Whether you are a one-person company servicing your clients in a particular city or you have a number of vehicles serving the whole province, it would be wise to protect your business from unexpected occurrences. An investment in commercial auto insurance ensures your organization stays safe from accidents on the road. Get the proper type of policy so that you can do business with peace of mind, knowing your company cars are protected at all times.
You can rely on the commercial vehicle insurance experts at Mitchell & Whale Insurance Brokers to help you protect your company and save money
Please call us at 1-800-731-2228 or email us at firstname.lastname@example.org.