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Commercial Auto Insurance: Coverage On The Go

Whether you own a moving company or bustling restaurant business in Ontario, you likely use vehicles to get goods from A to B. In this case, a solid commercial auto insurance policy is essential to your business operations and your wallet.

For businesses in Ontario, a standard commercial auto policy is mandatory and protects your business from paying out-of-pocket for third-party injury and property damage claims, accident benefits and more. Sharp Insurance’s team of commercial insurance brokers are available to customize a policy that fits with your business’ individual needs. We find you the best commercial vehicle insurance coverage at a better rate. Get a free commercial auto insurance quote in Ontario.

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What Does Commercial Auto Insurance in Ontario Cover?

A commercial auto insurance policy, like personal auto insurance, is mandatory. A business has the option to include additional, add-on coverage to further enhance their protection.

Mandatory Commercial Auto Insurance

Accident Benefits

If any injuries occur because of an accident on the job, this coverage pays for any medical payments. This may include funeral expenses, rehab costs, treatment costs and more.

Third Party Liability Insurance

If your vehicles, while under your operation or the operation of your employees, are damaged, this coverage will help pay for bodily injury while also providing your business the protection it needs if you should accidentally damage a third-party’s property during business operations.

Direct-Compensation Property Damage

This type of insurance covers your vehicles if they are damaged and may also cover the total loss of your vehicle and its contents if someone else was considered at-fault for the collision.

Uninsured or Underinsured Automobile

It’s the law to carry insurance in Ontario, even on commercial vehicles, but some people choose to go without. If you get into a crash with an uninsured or underinsured driver, this coverage protects you for the cost of damages and medical expenses. It also covers you and your workers if anyone is injured or killed by a hit-and-run driver.

Optional Commercial Auto Insurance

Collision or upset

Collision insurance is optional and protects your business against potential losses and damages that occur while you or an employee is operating a company vehicle. Collision insurance coverage includes losses due to accidents with another vehicle or stationary objects.

Comprehensive coverage

Comprehensive insurance protects your company’s vehicles from damages and losses that occur due to hail damage, falling objects, fire, vandalism and more. Find out how comprehensive insurance can help you if your vehicles are stolen. Read our blog on this subject.

FAQs: Commercial Auto Insurance in Ontario

In Ontario, a commercial auto insurance policy covers costs in the event of property damage, legal expenses, medical bills and more. You have the option to enhance your policy by including protection which covers against collisions with other vehicles and objects, theft and vandalism and other types of damages. It’s helpful to work with a Sharp Insurance commercial auto insurance broker in Ontario to determine your needs.

Your typical Ontario commercial auto insurance policy will not cover leased or personal vehicles that are used by the business. You would need to purchase a non-owned automobile endorsement to cover these vehicles.

Ontario requires businesses that use one or more vehicles to carry commercial auto insurance. It’s typically recommended to require businesses to carry a minimum of $200,000 in third-party liability. Comprehensive and collision coverage are optional insurance coverage options.

You should always inform your insurance broker if you plan to use your personal vehicle for deliveries as well as typical personal usage. Commercial auto insurance does not typically cover vehicles that are not owned by a business. You may be covered if your business carries a non-owned and hired auto insurance endorsement. In this case, you will still need personal auto insurance. However, once you’re no longer using your vehicle for business purposes, your personal auto insurance policy would kick in to cover you in the event of an insured claim.

In Ontario, the cost of commercial auto insurance depends on several factors, including:

  • The number of commercial vehicles owned
  • The make, model, year and condition of vehicles
  • Insurance history
  • Driving record of employees
  • Business location
  • Coverage options
  • Deductible amounts

To get an affordable insurance rate for your Ontario business, it’s recommended you work with one of our commercial auto insurance brokers. You’ll gain access to top-rated insurance markets throughout Canada and get advice from some of the country’s keenest insurance experts.

Here are some tips to reduce your commercial auto insurance rate in Ontario:

  • Bundle multiple policies through one insurer.
  • Ask your provider about eligible discounts.
  • Raise your deductible amount.
  • Keep a clean driving record.
  • Do regular maintenance and inspections of your vehicles.
  • Shop around with the help of a Sharp commercial auto insurance broker.

It’s essential to ask your broker about changing your vehicle’s insurance policy from personal use to commercial use. Your rates may increase, and you may be unable to use your vehicle for personal use. If you are caught using a business vehicle for pleasure, you may risk your driving record, paying out-of-pocket for an accident or having your policy cancelled for nondisclosure.

Why Choose Sharp Insurance

As one of Canada’s fastest growing brokerages, Sharp Insurance has what it takes to get your company the commercial auto insurance policy it needs. Ontario’s economy depends on businesses that need to get around on wheels.

Sharp’s digital tools and innovative solutions allow them to find customized insurance for customers on a national basis. We offer unbeatable service, low prices and comprehensive coverage that protects you — a hardworking business owner.

From the start, we have been dedicated to offering our clientele innovative tools that we can use to improve their insurance journey.

Here are three additional reasons why companies choose Sharp Insurance for their commercial auto insurance in Ontario:

Customization

With our large network of insurance providers, we give you with the best options for your unique business needs.

Expert Advice and Customer Service

We offer you risk management recommendations and updates.

Save Money

As your broker, we shop around for the best current deals on the market. No questions asked.

We give our customers the best possible service. For a more personal touch, contact Sharp Insurance today to discuss your company’s needs with one of our top Ontario commercial auto insurance brokers.

What Is the Difference Between Commercial Auto Insurance and Fleet Insurance?

Taxi companies, construction companies and restaurants may all utilize a fleet of cars or trucks daily. But did you know that fleet and commercial vehicles are different?

Commercial auto insurance is for businesses that have less than five vehicles that are used to transport goods and services, or groups of people. Fleet auto insurance covers businesses that need to insure five or more vehicles.

Get a Commercial Vehicle Insurance Quote in Ontario

Protect your vehicles and your investments. Get a commercial auto insurance quote in Ontario with Sharp Insurance today.

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Currently Not Accepting Walk-Ins

Please be advised that due to unforeseen circumstances, Sharp is unable to assist walk-in clients at the moment.

We are happy to assist you with all your insurance needs over the phone at 1.877.218.2008