How Much Is Commercial Vehicle Insurance In Ontario?
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“How much is commercial vehicle insurance in Ontario?” is an important question to ask because Ontario has some of the most expensive vehicle insurance in all of Canada so ensuring you are getting the cheapest commercial vehicle insurance in Ontario is key. Thankfully the experienced and specialized commercial insurance brokers at the Canadian commercial insurance brokerage ALIGNED Insurance are commercial vehicle insurance experts and work with over 50 of the top Canadian insurance companies and will ensure you get the best commercial vehicle insurance in Ontario.
What Factors Determine How Much Is Commercial Vehicle Insurance In Ontario?
Pricing of commercial auto insurance is a complex thing that involves extensive actuarial analysis, reviews and approvals by government organizations, business strategy etc. etc., but for business owners the key factors that determine how much is commercial vehicle insurance are as follows:
- Individual driving history of the employee or employees
- Type of vehicle being being driven i.e. private passenger, light commercial or heavy commercial
- What is each vehicle being used for? i.e. the primary purpose that the business uses the vehicle for can have a significant impact on pricing
- Where the vehicle or vehicles are garaged
- Where the vehicle or vehicles travel to
- How far the vehicle typically travels each day
- The type of and amount of insurance purchased
- Loss ratio for the company
- Types of claims and infractions the business has incurred (CVOR data if applicable)
- Age of drivers
- Experience of drivers operating vehicles of comparable size and function
- Whether the vehicles travel to the United States of America or not
So…How Much Is Commercial Vehicle Insurance In Ontario?
As mentioned there is a lot that goes into to determining how much commercial auto and truck insurance costs and premiums can be as low as $600 per year and be as high as $10,000 per unit, but the average private passenger or light commercial unit costs roughly $1,000-$1,500 per year.
For Answer To “How Much Is Commercial Vehicle Insurance In Ontario?” Or To Get A Commercial Vehicle Insurance Quote In Ontario Connect With One Of Our Canadian Business Insurance Brokers Today at 1-866-287-0448
|ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.|
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