Commercial Auto Insurance
Commercial Auto Insurance In Toronto
Whether you operate a single utility van or manage a fleet of trucks, we can provide you with the best commercial auto insurance policy that aligns with your specific requirements.
- Trusted by over 1,000 Canadian small business owners!
- Save up to 35% on your insurance
- Competitive pricing and comprehensive coverage
What Is Commercial Auto Insurance?
Commercial auto insurance is a specialized form of insurance that provides coverage for vehicles used for business purposes. Whether you own a small business with a single delivery van or manage a large fleet of vehicles, commercial auto insurance is essential to protect your company’s assets and manage the risks associated with operating on the road.
Unlike personal auto insurance, which covers vehicles used for personal use, commercial auto insurance Toronto is specifically designed to address the unique needs and challenges faced by businesses. It offers coverage for a wide range of situations, including accidents, theft, vandalism, and damage caused by natural disasters or other unforeseen events.
Safeguard your assets, protect your employees, and mitigate potential liabilities on the road. Reach out to us for commercial auto insurance quotes to explore the best options for your business and drive with confidence.
INSURANCE TIGER
Why Do You Need Commercial Auto Insurance?
There are several reasons why businesses should invest in our best commercial auto insurance Toronto. It protects your business on wheels – comprehensive coverage, asset protection, and legal compliance tailored to your unique needs. Drive with confidence and safeguard your success.
Commercial auto insurance is essential for various businesses, including
- Transportation Companies
- Retailers and Wholesalers
- Professional Services
- Contractors and Construction Companies
- Delivery Services
Don’t see your industry or business type listed? Please call us at 1-416-293-6143 to find out more.
Personal Auto Insurance vs Commercial Auto Insurance
Personal Auto Insurance | Commercial Auto Insurance |
Designed for the personal use of vehicles | Designed for business use of vehicles |
Limited coverage for business-related activities | Comprehensive coverage for business operations |
Lower coverage limits | Higher coverage limits |
Typically excludes commercial activities | Specifically tailored to commercial operations |
No coverage for employees while using vehicles | Coverage for employees while using vehicles |
Limited or no coverage for specialized equipment | Optional coverage for specialized equipment |
Premiums based on personal driving history | Premiums based on business and driver factors |
Compared to personal auto insurance, commercial auto insurance is specifically tailored to address the unique risks and usage patterns associated with business vehicles. They provide higher coverage limits and specialized endorsements that cater to the needs of commercial operations.
Types of Commercial Auto Insurance Coverage
In Canada, commercial auto insurance coverage can vary based on provincial regulations and the specific needs of businesses. You can consult with Insurance Tiger brokers to decide which coverage is right for you. Here are some common types of commercial auto insurance coverage we provide:
Liability Coverage
This coverage protects businesses against third-party bodily injury or property damage claims caused by their vehicles.
Accident Benefits Coverage
Also known as Section B coverage, this provides medical and rehabilitation benefits to drivers, passengers, and pedestrians involved in accidents, regardless of fault.
Cargo Insurance
If your business involves transporting goods, cargo insurance provides coverage for loss or damage to the cargo during transportation.
Optional Coverage
There are other coverage options available, including collision coverage, comprehensive, all-perils, and specific perils coverage.
Protect Your Fleet with Tailored Commercial Auto Insurance
Insurance Tiger makes it easy to find the best commercial auto insurance coverage in Toronto.
Whether you have a fleet of vehicles or are just a one-man start-up operation, our specialist has over 10 years of experience in commercial auto underwriting to help assess your needs. Insurance Tiger brokers will do the comparison shopping for you to find the best coverage and the right amount of protection.
Our insurance brokers will do the comparison shopping for you to find the best coverage and the right amount of protection.
We only partner with quality insurance providers to ensure that your good driving record is protected and are able to take advantage of additional options, including claim service guarantees.
Our team will provide you with competitive commercial auto insurance quotes to ensure that you are getting quality insurance coverage at the right price.
Commercial Auto Insurance Policy
We tailor your commercial auto insurance policy to meet your specific business needs in Canada which is a seamless process that ensures you have the right coverage in place. When customizing your policy, several factors are considered to provide comprehensive protection.
To customize your policy according to these factors and ensure your business is adequately protected, contact us today.
Vehicle Type
The size and weight of vehicles influence coverage requirements.
Specialized vehicles may need additional endorsements for unique risks.
Consideration of vehicle usage patterns (e.g., long-haul, local delivery).
Age and condition of vehicles impact insurability and coverage needs.
Risk Assessment
Evaluating driver records and experience to assess their risk profile.
Analyzing accident history and claims frequency to determine potential risks.
Considering geographical factors, such as areas prone to accidents or theft.
Reviewing safety measures and protocols implemented by the business.
Assessing the overall risk exposure of the business and its impact on coverage needs.
Industry
Industry-specific regulations and compliance are considered for tailored coverage.
The construction industry may require coverage for equipment and materials transportation.
Delivery services may need coverage for frequent stops and cargo protection.
The transportation industry may require coverage for long-haul risks and multiple drivers.
Coverage Options
Liability coverage is tailored to meet the specific legal requirements of the business.
Physical damage coverage for comprehensive protection against accidents and damages.
Additional endorsements are available for specialized equipment or cargo insurance.
Optional coverages like rental vehicle coverage or roadside assistance for added convenience and protection.
How to Determine Commercial Auto Insurance Costs
The cost of your commercial auto insurance is determined on a case-by-case basis, taking into account various factors. These factors include the number and type of vehicles, the nature of your business, coverage limits, and more. The pricing can vary significantly, with monthly premiums ranging from around $100 to $300 or more, depending on your specific circumstances. Various factors play a role in determining the commercial auto insurance quotes, including:
- The type of company
- Type of vehicle
- Number of vehicles requiring protection
- Value and equipment
- Number of drivers
- Usage
- How often it is driven
- Plan type and limits
- Company insurance and claims history
- Location and organization type
It’s important to note that different insurance companies have varying policies and offerings for commercial auto insurance Toronto. Insurance brokers at Insurance Tiger work independently and represent multiple insurance companies. They have the expertise and industry knowledge to assess your requirements, compare policies from different insurers, and find the best coverage at the most competitive rates.
INSURANCE TIGER
Why Choose Insurance Tiger
Insurance Tiger brokers have been in business for more than a decade and serve the unique commercial auto insurance needs of their clients. Our team will do everything we can to get you the protection you need at the best possible rate.
We have an easy and quick process to obtain a quote from a qualified broker.
1. Check your industry
Find out if your vehicle is eligible for coverage. Simply choose the vehicle category that best matches your business.
2. Explore coverage options
We provide a range of flexible coverage options designed to meet the unique needs of your small business.
3. Reach out to us
Pick up your phone and reach out to one of our representatives at 416-293-6143 for a personalized quote.
Competitive Rates, Comprehensive Coverage
At Insurance Tiger, our goal is to provide you with comprehensive coverage at competitive rates. Through our risk assessment, data analysis, insurance partnerships, and personalized recommendations, we strive to find the best insurance solutions for your business while keeping your budget in mind.
FAQs
Generally, commercial auto insurance must include liability coverage, which provides protection against third-party bodily injury or property damage claims.
Yes, you can cover multiple vehicles under a single commercial auto insurance policy. This is especially beneficial for businesses with a fleet of vehicles as it simplifies the insurance process and may offer cost savings.
Claims in commercial auto insurance Toronto are handled similarly to personal auto insurance. When an accident or damage occurs, you need to report the claim to your insurance provider. An adjuster will be assigned to assess the damages, investigate the incident, and determine coverage. Once approved, the necessary repairs or compensation will be provided.
The cost varies depending on several factors, including the type of vehicles, usage, business operations, driver records, and coverage limits. It’s recommended to obtain commercial auto insurance quotes from multiple insurers.
There is no tax on commercial auto insurance in Ontario. However, the applicable tax rate varies by province. It’s important to consider the tax component when calculating the total cost of your commercial auto insurance policy.
Tools may not be covered under a standard commercial auto insurance policy. However, you can often add coverage for tools and equipment as an endorsement or separate policy. It’s advisable to consult with our insurance brokers to ensure your tools are adequately protected.