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Commercial Auto Insurance

Contractors Insurance is an award-winning commercial insurance brokerage firm based in Ontario that is trusted by numerous contractors, tradespeople, and professionals. We specialize in providing personalized insurance plans and bundles, and one of those is commercial auto insurance.

If your business owns and uses a vehicle to transport employees, clients, and business-related materials and equipment to and from job sites, then having commercial auto insurance will protect your business from financial loss. This type of insurance can cover repair, medical, and legal fees when a company-owned vehicle is damaged and has damaged properties or causes bodily injury to people involved.

Contractors Insurance continues to provide commercial auto insurance and multiple policies covering other risks and liabilities that businesses in varying industries face. With our years of experience and excellent customer service, you know you are in good hands.

What Is Commercial Auto Insurance?

Commercial auto insurance is a policy that covers damages to company-owned vehicles. If you or an employee damages another vehicle, a property owned by a third party, or bodily injures a third-party individual, this is covered as well.

To be more precise, here are some standard and optional commercial auto insurance coverages:

Auto Liability

If you or your employee damages or bodily injures a third-party property or individual, this coverage can provide legal defence and settlement fees.

Medical Coverage

If you, an employee, or a third party gets in a covered accident while in a company-owned vehicle, this insurance type can pay for medical fees.

Collision Coverage

If a company-owned vehicle being driven by you or an employee collides with or gets hit by an object or another vehicle, this coverage pays for damages to the company vehicle.

Comprehensive Coverage

This coverage pays for damages to your company vehicle caused by theft, vandalism, or natural disasters such as fire, flood, and other covered perils.

Uninsured Motorist Coverage

If an uninsured motorist causes bodily injuries to your driver and passengers in your vehicle, this coverage can pay for damages and medical fees.

How Can Commercial Auto Insurance Benefit Your Business?

Commercial auto insurance can be a great addition to your other liability insurance policies if:

  • Your business owns a vehicle;
  • Your company-owned vehicle costs more to repair or has a higher risk of causing more damage;
  • You use the company vehicle for day-to-day business-related operations, including but not limited to transporting materials and equipment to and from job sites and employees and clients; or
  • You require higher liability coverage due to the nature of your work. 

Commercial auto insurance does not cover the following:

  • Your personal vehicle, unless its sole use is for business purposes;
  • Items you transport in the vehicle;
  • Rented or leased vehicles; and
  • Vehicles used for ridesharing.

Why Is It Important for Ontario Business Owners To Have Commercial Auto Insurance?

Despite proper training and implementing precautions, accidents can happen when you are in an industry involved in high risks and liabilities. Having commercial auto insurance protects you and your business from financial loss if these situations arise.

Example #1:

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    While using the company car, your driver accidentally hits someone crossing the street, causing minor injuries.

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    The individual successfully sues. Commercial auto insurance can cover medical costs and provide legal defence and settlement fees.

Example #2:

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    An uninsured motorist collides with your car.

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    Your commercial auto insurance can cover damages to your company vehicle.

Example #3:

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    You come to work and find that vandals caused damage to the company car through the night.

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    Your commercial auto insurance can cover damages to your company vehicle.

Leading Provider of Commercial Auto Insurance

As an award-winning commercial insurance brokerage firm, you can always expect these benefits from Contractors Insurance:

Personalized Insurance Plans

Our customer-centric approach means being there at every step of the process. When you partner with us, we will be hands-on in customizing your insurance plans according to your needs and help you identify and remove unnecessary riders. Another benefit when you partner with us is we also assist in filing claims, so you don’t need to worry about anything other than running your business.

Transparency in Coverage and Limitations

Numerous professionals and businesses trust us because we implement utmost transparency in discussing our policies. We will ensure that you understand your policy by explaining how it works, what’s covered and excluded, and its triggers. This means no hidden fees and no complicated jargon.

Thorough and Straightforward Insurance Education

Our clients are our partners. In line with this, our responsibility is to educate our clients with the necessary information before securing a plan with us. A well-informed client makes well-informed decisions regarding their personalized policy, which in the long run, would benefit and secure their business’s success and future.

Frequently Asked Questions About Commercial Auto Insurance

Commercial auto insurance can range from $100 to $300 per month. If you prefer additional coverage or require a higher limit, it would mean additional costs in your policy.

While private auto insurance is mandatory for all licensed drivers in Ontario, commercial auto insurance is an optional type of coverage for your business’s risk management plans. If you already have existing policies, you can opt to bundle commercial auto insurance with your other policies.

If you are looking for an insurance provider who offers insurance bundling, Contractors Insurance can provide various personalized plans and bundle them at a more efficient cost.

Ready To Get The Coverage You Need?

Contractors Insurance has garnered multiple awards and industry recognition for our personalized insurance plans and excellent end-to-end service. Whether you require commercial auto insurance or a different type of policy, you can rest assured that you will only get the best from us.

Accidents don’t happen every day, but when they do, being prepared can benefit you greatly. Secure your business’s future with us and have peace of mind knowing we have got you covered.

For inquiries and more detailed information regarding our policies, contact us today. A team member will reach out shortly.

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