Nearest broker: Searching for a broker nearby…
Nearest broker: 2607 Ellwood Dr SW, Edmonton, AB, T6X 0P7 Phone: 780-732-8616 10060 Jasper Ave, Edmonton, AB, T5J 3R8 Phone: 780-435-3632 , Calgary, AB Phone: 403-532-4882 322 Avenue C S, Saskatoon, SK, S7M 1N4 Phone: 639-398-4170 10325 Bonaventure Dr SE, Calgary, AB, T2J 7E4 Phone: 403-695-1050 5317 50 Ave, Taber, AB, T1G 1V3 Phone: 403-223-2377 110a McLeod Ave, Spruce Grove, AB, T7X 2H8 Phone: 780-571-1144 496 Marquis Rd, Prince Albert, SK, S6V 8B3 Phone: 306-970-8080 335 Hwy Avenue N, Picture Butte, AB, T0K 1V0 Phone: 403-732-6023 103-5020 Lac St Anne Trail S, Onoway, AB, T0E 1V0 Phone: 780-967-2282 2201 Box Springs Blvd NW, Medicine Hat, AB, T1C 0C8 Phone: 403-487-5132 550 Wt Hill Blvd S, Lethbridge, AB, T1J 4Z8 Phone: 403-394-1123 734 13 St N, Lethbridge, AB, T1H 2T1 Phone: 403-328-9114 5 St SE, High River, AB Phone: 403-652-4104 9901 103 St, Fort Saskatchewan, AB, T8L 2C8 Phone: 780-998-0881 , Edson, AB, T7E 1T6 Phone: 780-440-0075 16612 109 Ave NW, Edmonton, AB, T5P 1C2 Phone: 780-486-4488 201-4271 23 Ave NW, Edmonton, AB, T6L 5Z8 Phone: 780-466-2136 3908 97 St NW, Edmonton, AB, T6E 6N2 Phone: 780-465-6900 8170 50 St NW, Edmonton, AB, T6B 1E6 Phone: 780-469-9378 52 Ave, Drayton Valley, AB Phone: 780-621-1707 264 Midpark Way SE, Calgary, AB, T2X 1J6 Phone: 403-251-2926 1331 Macleod Trail SE, Calgary, AB, T2G 0K3 Phone: 403-278-1050 1331 Macleod Trail SE, Calgary, AB, T2G 1E1 Phone: 403-255-2252 234-7 Westwinds Crescent NE, Calgary, AB, T3J 5H2 Phone: 403-775-2100 , Calgary, AB, T3K 0S8 Phone: 403-719-9995 4632 70 St NW, Calgary, AB, T3B 2K6 Phone: 403-247-6435 5114 2 St, Boyle, AB, T0A 0M0 Phone: 780-689-3946 50 Ave, Bonnyville, AB Phone: 780-826-3147 12931 20 Ave, , AB, T0K 0E0 Phone: 403-562-2191 2903 Kingsview Blvd SE, Airdrie, AB, T4A 0C4 Phone: 403-945-8885

What is fleet insurance?

Auto Insurance

By Anne Valentino | April 25, 2018

What is fleet insurance?

Fleet insurance is for companies who own 4 or more commercial vehicles. It is an easy way to cover all the vehicles belonging to a business under one policy. It helps with organization and can potentially provide discounts. Fleet insurance can be an excellent option for businesses as you’ll find out below.

What are the benefits of fleet insurance?

The greatest benefit of fleet insurance is that allows insurance companies to group rate like vehicles and potentially allow for discounts. Some fleets will have a particular endorsement that allows like vehicles to be automatically covered. There are restrictions and requirements in order for overage to apply but this is very useful for businesses that have many vehicles that change frequently throughout the year.

Otherwise it is similar to a normal commercial vehicle policy. Depending on the level of coverage you choose you and your vehicles will be protected in event of damage or destruction being caused by a covered event. It will also cover damages associated with liability.

What does fleet insurance cover?

As with any commercial vehicle policy there are different levels of insurance you can get with fleet coverage. The best coverage to have is third party liability collision and comprehensive.

Third party liability is required by law in order to have a vehicle on the road but it only protects the other party for both property damage and bodily image – there is no coverage for yourself nor the vehicle you own.

Collision covers the owned vehicle for damage caused by a collision. This does NOT cover medical or legal fees. It will also not cover the vehicle in cases of damage caused by anything other than a collision.

Comprehensive on the other hand covers a long list of perils that can cause damage or destroy your vehicle. It will also provide coverage for medical and legal fees. For example if one of your vehicles was vandalized and had the mirrors broken off and a few dents put in it you would be covered. This wouldn’t be covered if you just had third party liability and collision.

There are also a number of  other endorsements (or optional coverages) that you can choose. What is available will depend on the insurance company and the type of business.Talk to your brokerfor more information.

What Should I Know About Fleet Insurance?

A couple of things to keep in mind as you look into whether or not a fleet insurance policy makes sense for your company:

  • Every employeethat will be driving one of the insured vehicles must be listed on the fleet policy. Failure to do so could result in a claim being denied. Also depending on exactly what kind of vehicles you are insuring the drivers may need a special operator’s license. Check out our article on choosing good employees when it comes to driving here.
  • Update your brokerregarding any relevant changes including the number of vehicles you own and who is driving them. You’ll also want to notify your broker if the nature of your business changes and keep them up to date with your address and contact information.
  • If you’re not sure about whether or not you need fleet insurance talk to a brokerfirst. They’ll be able to help get you a policy that protects your assets while staying within budget.

    Get A Quote From A-WIN

    Get the best insurance deals and stay on budget.

    Get A Quote

    Life Events - It's Time to Reassess Your Insurance

    Whether it’s heading off to university or deciding to start your own business,...

    Download