Commercial Fleet Insurance Hamilton

Commercial Fleet Insurance in Hamilton With Oracle RMS

Are you wondering what does our fleet insurance cover in Hamilton? At Oracle RMS, our customized fleet insurance policy includes the following:

Third-Party Liability Coverage

Liability insurance 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 in Hamilton for Commercial Fleet Insurance With Oracle RMS

Along with the mandatory insurance coverage, there are several additional options you can add to your policy for more complete protection. Some of the most popular choices include:

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.

Why Do Businesses Need Fleet Insurance?

Commercial auto insurance is usually for businesses or individuals with fewer than five vehicles, but if you have five or more, fleet insurance is the way to go. It protects against risks like third-party injuries, property damage, theft, and vandalism. Plus, for small business owners, it can be more affordable than having multiple individual policies, helping you save money while keeping your vehicles covered. Remember, personal auto insurance doesn’t cover vehicles used for business purposes so it’s important to have the right coverage in place as part of your business insurance portfolio.

Commercial Auto Insurance vs. Commercial Fleet Insurance

A commercial auto policy covers a single vehicle used for business, while fleet insurance is designed for businesses with five or more vehicles. Both offer similar coverage, but fleet insurance has the advantage of covering any employee with a valid driver’s license listed on your policy.

Fleet insurance can cover a range of vehicles like cars, SUVs, vans, trucks, and trailers. It is especially helpful for businesses where employees frequently switch between vehicles, such as delivery services, taxi companies, moving companies, and car rentals.

Which Businesses Could Benefit from Fleet Insurance?

Fleet insurance is designed for businesses with multiple vehicles, no matter the size or type of the company. It covers all kinds of vehicles, including trucks, vans, cars, and more. While it’s often associated with transportation companies, many other businesses benefit from fleet insurance, including:

• School bus companies
• Taxi companies
• Limo service companies
• Delivery services
• Moving companies
• Care service providers
• Dealerships
• Towing companies
• Contracting companies
• And any other business that owns more than four vehicles

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 runs multiple vehicles, business vehicle insurance costs can add up quickly, but they don’t have to. That’s where commercial fleet insurance comes in, combining all your commercial vehicle policies into one to help you save money. For the best deal, contact Oracle RMS. We’ll shop around to find a fleet insurance policy that suits your needs at a competitive price.

Partner With Oracle RMS Today for Commerical Fleet Insurance

At Oracle RMS, we’re proud to have served the Hamilton community for many years as experienced insurance professionals. Our goal is to help businesses like yours succeed by offering top-tier commercial vehicle coverage. Our fleet insurance coverage is tailored to the specific needs of businesses with multiple vehicles, making sure you’re protected from the unique risks your fleet might face.

We know how important it is to protect what matters most to you and your business. Our experienced insurance advisors are here to make sure you’re covered, giving you peace of mind so you can focus on growing your business for the future. With a team of experts who understand the Hamilton market, we’re your trusted partner in safeguarding your assets, business, and peace of mind.

We’re here to support you every step of the way, even after your policy is in place. Ready to simplify your commercial auto insurance? Contact Oracle RMS today for a free fleet insurance quote in Hamilton, Ontario.

FAQs

How does insurance work for fleet vehicles?

Fleet insurance lets you cover multiple vehicles under one policy, making insurance management much simpler. Whether you have cars, trucks, or a mix, fleet insurance protects against accidents, theft, damage, and other risks. It usually includes options like liability, collision, and comprehensive coverage, based on your needs. Plus, having all your vehicles under a single policy is often more cost-effective and makes it easier to manage renewals and coverage.

How much is fleet insurance in Hamilton?

The cost of fleet insurance in Hamilton, Ontario, varies based on factors like the number of vehicles you have, their make, model and value, and your drivers’ experience and records. Factors like how often the vehicles are on the road and what they’re transporting can also affect the price. To get an accurate estimate, it’s a good idea to speak with your insurance provider or broker.

How many trucks do you need for fleet insurance?

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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