Fleet insurance is essentially a multi-vehicle insurance policy covering the different types of vehicles your business owns and uses for commercial purposes. It’s available to any registered business with two or more company-owned vehicles within its fleet.
This type of insurance is a great way of managing your business vehicle insurance obligations within a fleet because it condenses all your vehicles’ cover into just one policy. That way, when it’s time to renew, you only have to update one policy; regardless of how many vehicles your company has in service.
Whether your operation consists of a few vehicles or a fleet of vehicles, we can provide the proper coverage for you. Here are just a few of the optional coverages you can purchase to help tailor a policy to your operation:
Typically, these fall into three categories:
1. Third party only
If you opt for third party fleet insurance only you’ll be covered for third party damage to another driver and/or his or her vehicle. This is the cheapest form of fleet insurance and the minimum amount of legal cover required for fleet businesses to operate. While less expensive than other types of fleet insurance, this policy does not pay out for damage to your own vehicles and drivers. Therefore, in the event of an accident, you would be liable for any repairs to your own vehicles.
2. Third party, fire and theft.
Third party, fire and theft, fleet insurance, offers you a higher level of protection than just third party alone. While there’s no legal requirement for this policy, the addition of fire and theft means you’ll be able to make a claim if a vehicle in your fleet is stolen, or sustains damage as a result of a fire. This policy type also covers you for any injury or damage to third parties in the event of an accident.
3. Fully comprehensive
Fully comprehensive fleet insurance is the most advanced form of cover on the market and consequently the most expensive of the three policy types. If you elect for fully comprehensive fleet insurance you’re protecting yourself against all of the above (theft, fire and third party) but also covered for damage to your own vehicles and drivers.
From the ability to lower insurance premiums for your vehicles, to reducing office admin, taking out fleet insurance offers businesses a range of attractive benefits, in addition to peace of mind:
• Just one policy to cover all business vehicles
With fleet insurance you can insure every vehicle in your company’s ownership on just one policy, regardless of vehicle type. This means that even mixed-use vehicles can be insured together, without the need to take out individual policies for every vehicle in your fleet.
• One policy renewal date
Insuring every vehicle in your fleet on the same policy means you only have to deal with one policy renewal date. This is especially beneficial in businesses with a large number of vehicles on the road as it significantly reduces admin time, freeing up resource to focus on other areas of your business.
• The possibility of cheaper premiums
Choosing to take out fleet insurance can work out cheaper than individually insuring vehicles within your fleet. If one of your vehicles is involved in an accident, an insurer may choose to spread the cost of any claim made across all vehicles, subsequently lowering the premium you pay.
Fleet insurance extends to all classes of vehicle owned and operated by your company for its business operations. This includes any company-issued cars your employees use for work journeys, as well as taxis, motorcycles, minibuses, HGVs, trucks and even plant used on construction sites.
Providing all the vehicles you want to insure are registered under the same business ownership they’ll qualify to be included as part of a combined fleet insurance policy.
Here are some things you can do to help ensure your coverage stays valid:
Remember, your Basic Autoplan insurance only covers you in Canada and the U.S.
Enhanced Care started on May 1, 2021 and benefits all B.C. drivers. Here's how it works if you're renewing your policy on or after that date:
We’ve made it easier than ever before to complete the purchase and get coverage. How easy? We don’t even need to see equity ownership or financial statements from you.
As a digital company, InsureCert passes the savings for unnecessary administration on to you—for the most competitive price you’ll find anywhere.
Protect your startup with the broadest coverage in the industry. You can tailor policies to your needs by choosing your own limit and deductible.
We provide you with expert answers no matter your question: Reach us 24/7 via phone, email or live chat. You even get a personal account manager to look after you and your insurance needs.
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