Commercial Fleet Insurance Ottawa

Commercial Fleet Insurance in Ottawa With Oracle RMS

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

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 when used for work.

The main factor in choosing the right policy is the number of vehicles you need to insure. A commercial auto policy works well for one or a few business vehicles, while fleet insurance is ideal if you have five or more. Both provide similar coverage, but fleet insurance gives you the added flexibility of covering any licensed employee listed on your policy.

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

What Are the Benefits of Commercial Fleet Insurance?

There are multiple benefits of having commercial fleet insurance instead of several auto insurance policies, such as:

• You only have to manage one policy—one monthly payment and one renewal date.
• It’s usually more affordable than having separate policies for each vehicle, so you could end up saving a significant amount on your insurance premiums.
• You have the flexibility to decide whether each of your drivers can use all the vehicles or just certain ones

Why Do Businesses Need Fleet Insurance?

A commercial auto insurance policy generally suits businesses or individuals with fewer than five vehicles. However, if you have five or more, fleet insurance is a better option. It covers risks like third-party injuries, property damage, theft, and vandalism. For small businesses, fleet insurance is often more affordable than individual policies for each vehicle, allowing you to save while keeping everything under one plan. Keep in mind that personal insurance or a personal auto policy won’t cover vehicles used for business purposes, so having the right coverage as part of your business insurance is essential.

Partner With Oracle RMS Today for Commerical Fleet Insurance

At Oracle RMS, we’re proud to have supported the Ottawa community for many years as one of Canada’s leading insurance providers. Our mission is to help businesses like yours succeed with customized commercial insurance for vehicles. Our fleet insurance is crafted to address the specific risks of managing multiple company vehicles and keeping your business and assets protected. As a business owner, you need a team that understands the Ottawa market—let us be your trusted partner for peace of mind.

We’ll be there at every step, even after your policy is in place. Ready to simplify your business insurance for your company vehicles? Contact Oracle RMS today for a free fleet insurance quote in Ottawa, Ontario.

FAQs

How much is fleet insurance in Ottawa?

The cost of fleet insurance in Ottawa, 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 insurance 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.

How does insurance work for fleet vehicles?

Fleet insurance 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.

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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