Commercial Auto Insurance

Fill Out, Submit To Get A Quote

Commercial Auto Insurance

For over 30 years, Humberview Insurance Brokers has been a trusted partner for businesses in Ontario, Canada, providing comprehensive commercial auto insurance solutions. Our commitment goes beyond just competitive rates; we believe in empowering our clients with knowledge and support. Understanding that every business has unique needs, we offer tailored coverage that ensures your commercial vehicles are well-protected. From the moment you request a quote to the time your vehicle is insured, and beyond, our dedicated team offers expert advice and personalized service. Whether you're a small business owner or manage a large fleet, we're here to make your insurance experience seamless and exceptional. Contact us today for a quote on commercial auto insurance in Ontario.

Standard Commercial Auto Insurance in Ontario

Liability

Liability portion of your car insurance policy provides protection against damage you cause to other people or their property

Direct Compensation property Damage

Covers damage to your vehicle from your own insurance company to the extent you are not at fault. (For portion you are at-fault you would need collision or all perils coverage). As of January 1 2024, there is an option to opt out of this coverage.

Uninsured Automobile Coverage

Protects you if you are hit by an uninsured motorist or by a hit and run driver. This portion will cover damage to your automobile caused by an identified uninsured motorist..

Accident Benefits

Provides compensation if you or others are hurt or killed in a car accident.

Additional Protection for Your Commercial Auto Insurance

Collision Coverage

Covers your damage to your car as a result of hitting an object or another car

Comprehensive Coverage

Covers some insured damages such as falling objects, theft and fire.

All Perils Coverage

Most extensive physical coverage for your car. Covers collision + comprehensive and better theft coverage.

Accident Forgiveness Coverage

Extra coverage that protects your driving record and your insurance rate from going up from your first at-fault accident. Typically, you need to have been insured accident free for a set number of years to qualify.

Rental Vehicle Coverage

Provides you with a rental vehicle to a specified limit after an insured loss.

How Ontario Commercial Auto Insurance Rates Are Determined

1

Vehicle Type and Usage

Larger or heavier vehicles like trucks or vans often have higher premiums because they can cause more damage in an accident. The way vehicles are used (e.g., delivery, transportation of goods, passenger services) also influences rates.

2

Business Type and Industry

Certain industries have higher risks. For example, a construction company with heavy vehicles on-site might face different risks compared to a brewery making deliveries.

3

Location

Businesses operating in areas with high traffic, higher theft rates, or extreme weather conditions may see higher insurance costs.

4

Driving History

Similar to personal auto insurance, the driving records of everyone who will be driving the vehicles are considered. A history of claims, accidents or traffic violations can increase rates.

5

Coverage Types and Limits

More comprehensive coverage or higher coverage limits result in higher premiums. Businesses often need to balance the level of protection they want with the cost of the insurance.

Tips For Businesses and Their Vehicles

Regular Maintenance and Inspections

Keep your vehicles well-maintained and conduct regular inspections. This helps prevent breakdowns, extends the life of the vehicles, and ensures they are safe to operate.

Add and Delete Drivers

Immediately update your insurance policy to include new drivers and remove those no longer driving for your business to manage costs and ensure coverage.

New Driver Screening

Conduct background and driving record checks on new drivers to assess safety and suitability for operating company vehicles, ensuring compliance and risk management.

Continuous Driver Training

Regularly provide updated training to drivers on safety practices, updated regulations, and efficient driving techniques to enhance road safety and reduce incidents.

Telematics and Tracking

Implement GPS tracking and telematics to monitor vehicle locations, route adherence, fuel usage, and driver behavior.

Keep Records

Maintain detailed records for each vehicle, including maintenance, repairs, mileage, and fuel consumption. As well as where the vehicle went.

Accident Procedures

Have a clear procedure in place for drivers to follow in case of an accident, including reporting and documentation guidelines.

Get a Daschcam

Install dashcams in vehicles to record driving incidents, providing valuable evidence for insurance claims and helping to monitor and improve driver behavior.

Commercial Auto Insurance FAQ

  • What is Commercial Auto Insurance in Ontario?

    Commercial auto insurance is a form of auto insurance for vehicles used in connection with your business. Typically required when you are carrying tools, material and equipment and visiting clients and going to job sites.

  • Do I need Commercial Auto insurance?

    Whether you need commercial auto insurance depends on how you use your vehicle. Key factors include its business use, type (like certain vans and trucks), if employees drive it, and if it's used to carry tools or has business-related equipment attached

  • How Much is Commercial Car Insurance in Ontario?

    The cost of commercial car insurance in Ontario can vary significantly based on several factors. Here's a general overview of what might affect the pricing:

    • Type of Business: Different businesses carry different levels of risk. For example, a construction company that uses heavy trucks will pay more than a consultant using a sedan for client visits.
    • Vehicle Type: Larger or more expensive vehicles generally cost more to insure.
    • Usage: The more you use the vehicle for business purposes, the higher the risk, and consequently, the higher the premium.
    • Driver's Record:The driving history of anyone who will be driving the vehicle affects the cost. More experienced drivers with clean records usually result in lower premiums.
    • Coverage Level:More comprehensive coverage with higher limits and lower deductibles will cost more.
    • Location:Rates can vary based on where in Ontario your business is located and where the vehicle is typically driven.
    • Claims History:A history of claims can lead to higher premiums.
  • What is Comprehensive Insurance for a Commercial Vehicle?

    Comprehensive insurance for a commercial vehicle is a type of coverage that provides protection against damages to your vehicle not caused by a collision. This includes a range of scenarios such as theft, vandalism and fire.

  • Does Commercial Auto Insurance Cover Rental Cars?

    Commercial auto insurance policies often include coverage for rental vehicles, but this depends on the specific policy and the insurance provider. This coverage is only added as an additional add-on. This coverage is used to cover the cost of a rental vehicle after your vehicle has been in a collision. Usually up to a certain dollar amount or number of days indicated on the policy.

  • Is Commercial Auto Insurance Tax Deductible?

    Yes, commercial auto insurance is typically tax-deductible for businesses. When a vehicle is used for business purposes, the costs associated with insuring that vehicle can be deducted as a business expense. This includes commercial auto insurance premiums. It is typically only applicable to the portion of the insurance that covers business use of the vehicle. If the vehicle is used for both personal and business purposes, you may only deduct the portion of the insurance premium that corresponds to business use.

    It's always a good idea to consult with a tax professional or accountant for advice tailored to your specific business circumstances and to ensure compliance with current tax laws and regulations.

  • How can I Save on Commercial Auto Insurance in Ontario?

    Saving on commercial auto insurance in Ontario involves several strategies to lower premiums while maintaining adequate coverage. Here are some tips:

    • Shop Around and Compare Quotes: Prices and coverage options vary among insurance providers. It's beneficial to get quotes from multiple insurers to find the best deal.
    • Bundle Policies: If you have other types of business insurance, such as property or liability insurance, bundling them with the same insurer can often lead to discounts.
    • Higher Deductibles: Opting for a higher deductible can lower your premiums. Just ensure that the deductible is affordable in case you need to make a claim.
    • Risk Management and Safety Programs: Implementing safety programs and training for drivers can reduce the risk of accidents, which in turn can lower insurance costs.
    • Vehicle Choice:Choosing vehicles that are cheaper to insure (e.g., those with good safety ratings) can help reduce premiums.
    • Pay Annually or Semi-Annually:Some insurers offer discounts for paying your premium in a lump sum rather than monthly.
    • Maintain a Good Driving Record:Encourage and incentivize safe driving among your employees. A clean driving record can significantly impact insurance rates.
    • Review and Adjust Coverage Regularly:As your business evolves, so do your insurance needs. Regularly review your policy to ensure it matches your current situation. You may find areas where you can reduce coverage.
    • Install Security Devices:Vehicles equipped with anti-theft devices or GPS tracking systems can often qualify for lower premiums.
    • Leverage Membership Discounts:Some business associations or groups offer discounts on insurance for their members.
    • Ask About Specific Discounts:Insurers often have various discounts, so it's worth asking about any that might apply to your business.
  • Which Drivers Need to be Listed on Commercial Auto Policies?

    On a commercial auto policy, it's important to list all employees who are authorized to use the vehicles.

  • Is Commercial Auto insurance More Expensive than Personal Auto Insurance?

    The cost comparison between commercial auto insurance and personal auto insurance can indeed vary significantly depending on specific circumstances. It's not always the case that commercial insurance is more expensive; in some scenarios, it could be cheaper for a specific vehicle. But what is most important is that the vehicle is insured properly for its specific use, drivers and required coverages.

  • Does Commercial Auto Insurance Cover Equipment and Material in the Car?

    Commercial auto insurance typically provides coverage for the vehicle itself, but the coverage for equipment and materials should be insured through a separate policy for your business.

  • Can I Use My Commercial Vehicle Personally As Well?

    Yes as long as your insurance policy rates for the personal use intended. This is typically done by a percentage of how much you may use the vehicle for personal purposes and how much may be for commercial purposes. This requires you to speak t your insurance agent or broker to clarify the use of the vehicle and having it properly rated on your policy.

Car Insurance News and Blog for Commercial Auto Insurance, Ontario

lady is happy driving a vehicle after getting ignition interlock installed in Ontario

Ignition Interlock Ontario

About the Ontario Ignition Interlock Program The Ontario Ignition Interlock Program is mandatory for individuals who either have a conviction for impaired driving under the Canadian Criminal Code,...
Read More
electric car ontario

Electrifying the Roads: Canada’s iZEV Program

Understanding the Push Towards Electric Vehicles Across the country, we see a large-scale adoption of electric vehicles that not only reduce carbon emissions but also help save money...
Read More
mississauga car insurance theft

Car Theft Prevention: Ideas for Ontario Drivers

With the increasing number of car thefts in Ontario, we’ve compiled 8 essential considerations for drivers in the Province. Dive into our article, see what ideas there are...
Read More

Smooth Transitions: Navigating Car Insurance in Ontario When Moving from Another Province

Relocating to a new province can be a challenging experience, especially when it comes to navigating car insurance changes. This guide is designed to help new Ontario residents...
Read More

Car Insurance in Ontario, Changes to DCPD Coverage January 1, 2024

Starting January 1st 2024, Ontario auto insurance policy holders will have the option to remove Direct Compensation for Property Damage (DCPD) coverage from their car insurance policy. This...
Read More

Top Ten Stolen Cars in Toronto 2021

Below is a list from Toronto Police Services of the top ten cars stolen in the year 2021. Top 10 Auto Thefts by Vehicle Make and Model in...
Read More