Commercial Fleet Insurance Oakville

Commercial Fleet Insurance in Oakville, Ontario, With Oracle RMS

Here at Oracle RMS, our standard fleet insurance policies include the mandatory liability insurance coverage required in Ontario for commercial auto coverage:

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 expenses. 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 Oakville for Commercial Fleet Insurance With Oracle RMS

In addition to mandatory commercial vehicle 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 requires you or your employees to drive, you’ll need a commercial auto insurance policy. Unlike personal auto insurance, which is for personal use, commercial auto insurance covers vehicles registered under your business and protects them during business operations.

The main consideration when choosing a policy is how many vehicles you need to insure. A commercial auto policy is best for one or a few vehicles, while fleet insurance is ideal for businesses with five or more. Both provide similar coverage, but fleet insurance adds the flexibility of covering any licensed employee listed on the policy.

Fleet insurance is a convenient, cost-effective way to protect multiple company vehicles under one plan.

Partner With Oracle RMS Today for Commerical Fleet Insurance

At Oracle RMS, we’re proud to have supported the Oakville community as one of Canada’s leading insurance companies for many years. Our goal is to help businesses like yours thrive with tailored commercial vehicle insurance coverages. Our fleet insurance is designed to address the unique risks that come with managing multiple company vehicles, ensuring your business and assets stay protected. As a business owner, you need a team that truly understands the Oakville market. Let us be your reliable partner for peace of mind.

We’re here to support you at every stage, even after your policy is set. Ready to streamline your business insurance for commercial vehicles? Contact Oracle RMS today for a free fleet insurance quote in Oakville, Ontario.

FAQs

What is a fleet in Oakville?

A fleet vehicle is any car, truck, or other vehicle that’s part of a group owned by a business. In Oakville, a business needs to own at least five vehicles for it to be considered a fleet.

What is a fleet insurance policy?

A fleet insurance policy allows you to cover all your business vehicles (five or more) under a single policy, making it easier to manage. With this type of policy, you can choose to let any driver use any vehicle or assign specific drivers to certain vehicles.

Can small businesses benefit from fleet insurance?

Yes, any business of any size can benefit from fleet insurance if they own five or more business vehicles.

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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