Commercial Fleet Insurance Guelph

Commercial fleet insurance in Guleph with Oracle RMS

Commercial fleet insurance is similar to a commercial auto insurance policy, with the main difference being that it covers multiple under one policy. This means our standard policies include the mandatory liability insurance required for Ontario, including:

Third-party liability coverage

This coverage is essential because it protects you and your employees financially if you’re responsible for injuring someone or damaging their property while driving. In Ontario, it’s also the law, covering claims made against you up to your policy’s limit, including legal fees. The minimum required coverage is $200,000, but many policyholders choose higher limits, like $2 million, for extra protection.

Accident benefits coverage

This coverage ensures that you or your employees get benefits if you’re injured in a car accident, no matter who’s at fault. It includes help with medical bills, rehab and attendant care, and even income replacement if you’re unable to work.

Uninsured automobile coverage

If you or one of your employees is injured or killed by an uninsured driver or in a hit-and-run, uninsured automobile coverage steps in to cover the costs of damages or losses.

Direct compensation-property damage coverage

This part of your car insurance policy covers damage to your commercial vehicles and their contents, as well as any loss of use if you or one of your employees are in an accident that wasn’t your/their fault. Since someone else caused the damage, you’ll get direct compensation from your own insurance company.

Additional coverage options for commercial fleet insurance with Oracle RMS

In addition to mandatory coverage, there are several coverage options you can add to your policy for more comprehensive coverage. Here are some of the more popular options:

Collision coverage

Collision coverage helps cover the cost of repairing or replacing your fleet vehicles if they’re damaged in an accident, regardless of who is at fault. Whether it’s a crash with another vehicle or an object like a fence or pole, this coverage ensures that the repair or replacement costs are taken care of, minimizing the financial impact on your business.

Comprehensive coverage

Comprehensive coverage protects your vehicle from damage caused by things other than accidents, like theft, vandalism, fire, natural disasters, or even damage from falling objects. This type of coverage is essential for fleet owners because it ensures that their vehicles are protected from a wide range of risks that could lead to costly repairs or replacements.

Accident forgiveness coverage

Accident forgiveness coverage prevents your insurance premiums from increasing after one of your fleet vehicles is involved in its first at-fault accident. Normally, an at-fault accident would lead to higher premiums, but with this coverage, your insurer “forgives” the first incident, helping you avoid a significant rate hike.

Loss of use coverage

Loss of use coverage helps cover the costs of renting a temporary replacement vehicle or other transportation expenses if one of your fleet vehicles is damaged and out of commission due to a covered incident, such as an accident or theft.

What is the difference between commercial auto insurance and commercial fleet insurance?

A commercial auto policy is meant to cover a single vehicle used for business, while fleet insurance is designed for businesses with five or more vehicles. Both policies offer similar coverage types, but fleet insurance has the added benefit of covering any employee with a valid driver’s license who is listed on your policy. It can include various vehicle types like cars, SUVs, vans, trucks, and trailers. Fleet insurance is especially useful for businesses where employees switch between vehicles, such as delivery services, taxi companies, moving companies, and car rental services.

Why do businesses need fleet insurance?

While commercial auto insurance is typically for businesses or individuals with fewer than five vehicles, fleet insurance is designed for companies with five or more. It offers protection against risks like third-party injuries, property damage, theft, and vandalism. Fleet insurance can also be a more cost-effective option for small business owners compared to having multiple personal auto policies, helping them save money while keeping their vehicles covered.

How much does commercial fleet insurance cost?

The cost of fleet insurance depends on several factors, including:

• Where your business and vehicles are located
• How many vehicles you have in your fleet
• The type and value of the vehicles in your fleet
• What your vehicles are transporting
• Where vehicles are parked or stored
• The ages and genders of your drivers
• Your drivers’ experience and driving records
• How many kilometres each vehicle travels annually
• Your claims history

If your business owns and operates multiple vehicles, insurance can get expensive, but it doesn’t have to be. This is where commercial fleet insurance comes in, bundling your multiple auto insurance policies under one policy to help you save money. To get the best deal on your fleet insurance, contact Oracle RMS. We can shop around and find a policy that fits your needs at a competitive price.

Partner With Oracle RMS Today for Commerical Fleet Insurance

At Oracle RMS, we are experienced insurance professionals who have proudly served the Guelph community for many years. Our goal is to help businesses like yours thrive by providing top-notch commercial vehicle coverage. Our commercial fleet insurance is designed to meet the unique needs of businesses that rely on multiple vehicles, ensuring you’re protected against the specific risks your fleet faces. With a team of specialists who understand the Guelph market, we’re here to be your trusted partner in protecting your assets, business, and peace of mind.

At Oracle RMS, we’re here to guide our customers every step of the way, even after they’ve purchased their policy. So don’t wait to simplify your commercial auto insurance policies. Contact Oracle RMS today for a free quote on commercial fleet insurance in Guelph, Ontario.

FAQs

How does insurance work for fleet vehicles?

Fleet insurance allows you to cover multiple vehicles under a single policy, making it easier to manage your insurance. Whether your vehicles are cars, trucks, or a mix, fleet insurance offers protection against accidents, theft, damage, and other risks. It typically includes coverage like liability, collision, and comprehensive, depending on your needs. Plus, having all your vehicles on one policy often makes it more cost-effective and easier to keep track of renewals and coverage.

How much is fleet insurance in Guelph?

The cost of fleet insurance in Guelph varies depending on factors like the size of your fleet, the type of vehicles you’re insuring, and how they’re used. Things like driving records, how often the vehicles are on the road, and what they’re transporting can also affect the price. For an accurate estimate, it’s best to get a personalized quote from a local insurance broker based on your specific situation.

How many trucks do you need for fleet insurance?

You typically need at least five vehicles to qualify for fleet insurance in Ontario. The vehicles can be a mix of trucks, vans, or cars, and they must be used for business purposes. Fleet insurance is a great way to streamline coverage and save money if your business has multiple vehicles on the road.

The Right Coverage For You

At The Best Price

“I purchased my first car a year and a half ago and called Oracle for car insurance quotes. They have excellent customer service – in particular, Chris was very helpful in getting me a great rate. He is extremely prompt at answering any questions I have about my policy and about anything insurance related! I highly recommend this brokerage.”

Andrea Lee,
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