Commercial Fleet Insurance Kitchener

Commercial Fleet Insurance in Kitchener With Oracle RMS

Commercial fleet insurance is similar to a regular commercial auto insurance policy, but the key difference is that it covers multiple vehicles under one plan. Our standard fleet insurance policies include the mandatory liability insurance required in Ontario, such as:

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 can cover medical expenses, 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 in Kitchener for Commercial Fleet Insurance With Oracle RMS

In addition to mandatory commercial auto insurance 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?

If your business involves you or your employees driving, you’ll need a commercial auto insurance policy. Commercial auto insurance works much like personal auto insurance, but the vehicle is registered under the company’s name instead of an individual’s. You need commercial auto insurance because personal auto insurance doesn’t cover your vehicle if something happens to it while you’re using it for business purposes.

The main difference in choosing the right policy comes down to the number of vehicles you need to insure. A commercial auto policy is meant to cover one or a few vehicles 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.

Fleet insurance offers a convenient and cost-effective solution by covering multiple vehicles registered with the company.

How Much Does Commercial Fleet Insurance Cost in Kitchener?

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 operates multiple vehicles, insurance costs can add up quickly, but it doesn’t have to be that way. Commercial fleet insurance simplifies things by bundling all your vehicle policies into one, helping you save money. For the best deal, reach out to an Oracle RMS insurance broker—we’ll help protect your business and wallet by shopping around and finding a policy that fits your needs at a competitive price.

Partner With Oracle RMS Today for Commerical Fleet Insurance

At Oracle RMS, we’re proud to be experienced insurance professionals serving the Kitchener community for many years. Our goal is to help businesses like yours succeed by providing top-notch commercial vehicle coverage. Our fleet insurance is tailored to the unique needs of businesses that rely on multiple vehicles, ensuring you’re protected from the specific risks your fleet may face. With a team that understands the Kitchener market, we’re your trusted partner in safeguarding your assets, business, and peace of mind.

We’re here to guide you every step of the way, even after you’ve purchased your policy. Ready to simplify your commercial auto insurance? Contact Oracle RMS today for a free quote on fleet insurance in Kitchener, Ontario.

FAQs

What is fleet insurance?

Fleet insurance lets you cover all your commercial vehicles under one policy instead of insuring them individually. You can either cover all drivers for all vehicles or assign specific drivers. Since the vehicles are insured rather than the drivers, you have more flexibility with who can drive which vehicle. Fleet insurance saves you both time and money—not only is it convenient to have all vehicles under one policy, but you’ll likely get a discount for insuring multiple vehicles together.

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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