Commercial Auto Insurance

Commercial auto insurance in Ontario provides coverage for vehicles used for business purposes. This insurance can cover a range of commercial vehicles, including cars, trucks, vans, and specialty vehicles used in the operation of a business.

If you're looking for commercial auto or fleet insurance, the ideal next step is to connect with an experienced insurance broker. They will help you navigate the complexities of finding affordable commercial auto insurance that best suits your business needs.

What is Commercial Vehicle Insurance?

Auto insurance for commercial vehicles is similar to personal auto insurance in that it is coverage that protects against financial losses resulting from accidents, theft, or other incidents involving a car. Unlike personal auto insurance, commercial vehicle insurance covers company-owned vehicles or vehicles used for business activities.

In Ontario, business auto insurance is required if a vehicle is owned or used as part of a business's operations. Having the right commercial vehicle insurance, whether for one vehicle or a fleet of commercial vehicles, will protect your business in the event of an unforeseen incident.

Why Have Commercial Vehicle Insurance?

Commercial vehicle auto insurance protects your business from losses that could arise from accidents, theft, or other incidents involving using a vehicle for business purposes. It's coverage, that in the event of an accident, you're covered for property damage, bodily injury, medical expenses, and legal fees.

It gives you peace of mind that if an accident happens or damages occur with one of your commercial vehicles, your business is protected from the related financial expenses. Simply, commercial motor insurance helps you maintain financial stability in the event of an unforeseen incident with a company vehicle.

Who Can Benefit from Commercial Auto Insurance?

Any business or individual who uses a vehicle for commercial purposes or as part of their business operations will benefit from commercial auto insurance to safeguard against financial losses and liabilities. In addition, commercial auto insurance is mandated by the government.

An experienced commercial insurance broker is the best solution to finding and tailoring a commercial auto policy suited to your needs and budget. From one vehicle to a fleet of commercial vehicles, partnering with a broker can save you time, money, and hassle while ensuring your business has the right protection.

FAQs of Commercial Vehicle Auto Insurance

We're here to answer your specific questions on commercial vehicle insurance in Ontario. In the meantime, here are answers to our clients' common questions.

How Much is Commercial Vehicle Insurance?

There are many factors that go into determining the rate for commercial vehicle insurance such as the type of business, the size and value of the vehicle, the coverage limits and deductibles, the driving records of the drivers, and the location where the vehicles are operated. To get an accurate idea of the cost, it's best to work with an insurance broker who can get you a commercial vehicle insurance quote from multiple carriers.

Do I Need Both Commercial and Personal Auto Insurance?

No, you do not need to carry both a commercial and a personal auto insurance policy. The auto insurance policy you carry depends on the purpose the vehicle is being used for. Simply, if the vehicle is being used for business purposes or is owned by a business, you may be required to purchase commercial auto insurance. An experienced insurance broker can answer your questions and ensure you have the right coverage for your vehicle's usage.

Which Insurance Company is Best for Commercial Vehicles?

The best insurance company for commercial vehicles is the one that has the coverage options that meet your specific requirements. That's why it's best to work with an insurance broker who can assess your business needs and provide customized insurance solutions. They partner with you to compare quotes from multiple insurance companies to find the most competitive rates and coverages tailored to your business and budget.

Why Do Builders Love Buildsure?

Our Buildsure broker, Ryan, has been an essential part of our team, ensuring that we're covered for all eventualities as we tackle new projects and challenges in the homebuilding sector.

John Vranic

Vranic Homes

The in-depth knowledge of the construction sector has been instrumental in identifying potential exposures and crafting policies that address them comprehensively. Their responsiveness and attention to detail make them a pleasure to work with, and we highly recommend their services to anyone in the homebuilding industry.

Raj Rai

Raison Homes

Our broker has been an invaluable partner in helping us navigate the complexities of the homebuilding industry. They've taken the time to understand our business inside and out, providing us with personalized insurance solutions that offer the right level of protection at competitive rates.

Kevin Sharpe

Sharpe Industries Inc.

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Commercial Auto and Fleet Insurance