What To Know About Commercial Auto Insurance Ontario

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Wondering what you need to know about commercial auto insurance Ontario? Read this.

It’s a driving concern. For many businesses in the province, commercial auto insurance is essential for the bottom line. Your company may have a fleet of vehicles used to deliver products or services. Or your business may own a few cars that are an integral part of your operations.

With many commercial auto insurance Ontario options, it’s important to work with insurance brokers who are focussed on the specific needs and requirements of businesses. ALIGNED is that team.

We take pride in delivering a different and better insurance experience to Canadian businesses. Our exclusive focus on supporting commercial business across the province and the country. Through our Cambridge, National Operations Centre and our Toronto corporate / head office we support thousands of Canadian businesses.

Our commitment to you is the reason why the ALIGNED Insurance broker you work with takes significant pride in being your advocate in the marketplace.

When worst case scenarios happen – what do you do?

Accidents happen. So the Insurance Bureau of Canada (IBC) provides information you can use to prepare your employees for an auto insurance claim situation. First and foremost, after a collision happens isn’t when you start thinking about a worst case scenario.

This is why IBC shares 6 things that everyone should do immediately after an auto collision.

For example:

  1. “Call your insurance representative as soon as possible to report the collision. They can provide helpful, on-the-spot advice on tow options, as well as repair and car rental companies.
  2. You have the right to decide who can tow your vehicle and to what location (unless otherwise directed by police).
  3. A permission to tow form must be signed, and the company must provide an itemized invoice before receiving payment and commencing tow.
  4. You are entitled to a receipt for tow services rendered and you have the option to pay with debit or credit card.
  5. Decline offers to store your vehicle in a compound yard unless directed by your insurance representative.
  6. Never sign a blank contract or take referrals from tow companies.”1

Secondly, engaging employees who drive your commercial vehicles day in, day out or infrequently is important. Above all, they need to know what procedures you expect them to follow in the event of an auto claim.

Therefore it is as important to ensure your employees aware of these steps as it is to secure the best auto insurance coverage for your Ontario business.

Working with an Ontario ALIGNED Insurance broker, you can find the best options for your fleet of vehicles and individual company owned autos.

What to know about managing a commercial auto fleet

Prevention is key. Regular maintenance of any auto goes a long way to ensuring a smooth ride. If your business manages a fleet of commercial autos, it is even more important. IBC notes, “Your organization may be held liable for a collision if a driver operates a vehicle for business purposes.

A vehicle collision is recognized as the greatest potential source of loss for many businesses. If your company’s operations depend on the use of cars, trucks or other vehicles, implementing fleet loss-prevention methods may add up to:

  • Fewer claims 
  • Less severe or costly losses
  • Lower insurance premiums in the long run.”2

When managing your auto fleet, assessing potential risks, developing policies and procedures and involving drivers in the management of risks for the autos they operate is essential. IBC provides a number of ways that you can proactively manage fleet risks.

For instance:

  • “Determine the experience of your fleet’s losses (i.e., types, causes, sources, number and cost of losses)
  • Implement a preventive maintenance program that includes a regular inspection and maintenance schedule. Follow your vehicles’ operating manuals for maintenance routines. Document and record all service carried out on each vehicle in the fleet.
  • Create fleet policies and procedures
  • Involve drivers in managing risk by providing them with a fleet safety manual and a pocket manual with key points for quick reference. Ask each driver to read all provided documentation and abide by all company policies and procedures. 
  • Ensure vehicles are stored in a safe place after hours to prevent theft.”3

In addition to focussing on preventing an accident, it’s also important to partner with people who understand your specific risks. Above all, working with your ALIGNED insurance broker is an important part of managing your commercial auto insurance risks.

Helping others is what drives your Ontario ALIGNED insurance broker

For us, insurance is personal. And when it comes to auto insurance, it is extremely personal. As a university student, ALIGNED President and CEO Andrew Clark’s life changed forever when he was involved in a serious auto accident for which he was at fault. Soon after the accident, Andrew received a $2,200,000 statement of claim.

To this day, the support that his insurance broker and insurance company provided still feels like a miracle. The insurance broker and insurance company made certain that those involved received compensation for injuries incurred as well as repaired Andrew’s truck.

Recalling how his insurance broker advocated for him and others, Andrew was drawn to an insurance career. After rising through the ranks of two of the world’s largest insurance brokerages, Andrew’s passion for helping others brought him to a crossroads. He decided to create ALIGNED, an insurance brokerage that exclusively focuses on helping Canadian business.

Read more about Andrew’s story and how it led to the creation of ALIGNED Insurance here.

Andrew is not the only ALIGNED team member who has had a personal experience with an auto collision. Sean McNamara, an ALIGNED Advocate based in Bowmanville collaborates closely with his colleagues across Ontario and Canada.

Sean recalls what led him to choose a career in the insurance industry.

“My family experienced a tragic death due to a vehicle accident when I was just 13-years-old. We went through the full claims process which, at the time, had no true meaning for my future. 

It was when I was choosing my course programs for college that I became more interested in taking the insurance program at Mohawk College. I knew that I wanted to go to Mohawk College because it was the school my father attended. When I saw the insurance program, it just seemed right. It has been 20 years, and so far, I believe the choice that I made two decades ago is still a great one!”

Learn more about Sean and what he believes sets ALIGNED apart in the Ontario marketplace here.

ALIGNED Advocates know the Ontario commercial auto insurance market

Working with top insurance companies is important. That’s why we are proud to work with some of Canada’s top insurers. As a result, this means that you are able to access coverage choices for your commercial auto needs.

Across Ontario and the country, we are proud of our strong relationships with more than 65 top insurance companies. A few of these companies are listed below:

In short, we know that commercial auto insurance is a driving concern for Ontario businesses. To sum up, we can help with aligning choice, value and options for your business.

Source(s): 1 IBC.ca: Know Your Tow ; 2 IBC.ca: Fleet Liability ; 3 IBC.ca: Fleet Liability – Risk Management ;

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