Is Your Ontario Commercial Auto Insurance Sufficient?


For many Ontario businesses, commercial auto insurance is an essential part of insurance package. This insurance type becomes more important for the businesses who perform delivery services in the GTA. At Multi Risk, our Toronto based insurance brokers will help you select the best coverage for your business within your budget. We are committed to providing our clients with the right coverage that can meet all their business insurance needs.

Whether the vehicle is for transporting goods or people for a fee, using your vehicle to conduct a service, or employees operating a vehicle, you may need a commercial auto policy. It can be confusing for people to choose the right policy for their business. This is where we step in. Our insurance and financial planning team in Toronto, Mississauga, Brampton, Markham, Scarborough & Vaughan will protect your business and company assets.

Who Should Have Commercial Vehicle Insurance?

These are some businesses that will need commercial auto coverage:

  • Contractors
  • Florists
  • Furniture Delivery
  • Boom Trucks
  • Dump Trucks
  • Landscapers
  • Construction companies

Looking at a Typical Business Auto Insurance Policy

When looking for the right auto insurance policy for your business, you need to consider a variety of factors. So, it is advisable to have a professional on your side, so he/she can help you select the right coverage and deductibles. In Ontario, you must have these coverage options:

DCPD – stands for direct compensation property damage. This protects your vehicle against any damage caused when you are not-at fault. You may ask, ‘why doesn’t the at fault driver’s policy pay this?’ It’s because in Ontario, this coverage is utilized to minimize the legal expenses and the time spent on claim settlement. This way claim is settled quickly and smoothly.

  • Third party liability insurance – covers your legal liability for the damage you may cause to a third party.
  • Accident benefits – pays for physical therapy, rehab, funeral expenses and income replacement benefits.
  • Uninsured/underinsured motorists – this coverage protects you when the other driver has no insurance or the insurance cannot cover fully your claims. Hit and run incidents are also covered.

Commercial Auto Insurance Options

You may need to take these insurance options:

  • Collision: pays for your vehicle if you caused the accident.
  • Comprehensive: fire, theft, vandalism, tree and hail damage claims
  • Loss of vehicle use: pays you for vehicle downtime.

How to Get the Best Deals on Commercial Vehicle Insurance

To make sure you get the best deal on a business car insurance policy, come to Multi Risk Insurance Brokers Ltd. As independent insurance agents, we check with some of Canada’s most reliable insurance companies and find you the most reliable coverage at the lowest rates.

Multi Risk Insurance Brokers also offers services like financial planning and risk management. We are here to help you take care of your business risk factors in the most efficient and economical ways.

To learn more about a commercial auto insurance, fill out our quote form and we’ll follow up by contacting you. You may also call our office at 416-224-2800.

Free Commercial Auto Insurance Quote