Compare rates on home insurance.

The perfect blend of savings and coverage.

December 10, 2019  •   6 minute read

Why Should I Get Commercial Car Insurance: Complete Guide 2019-20

Why Should I Get Commercial Car Insurance

Commercial Vehicles

Why Should I Get Commercial Car Insurance: Complete Guide 2019-20?

Wondering whether you need commercial car insurance? Then you have come to the right place. If you use your car for activities or services that are directly related to your occupation, it can be the operator, business, or profession, commercial car insurance in Ontario is available for you.

It is sometimes easy to get confused when making decisions on which policy to choose. Marketers are all over trying to win businesses, and there is a need to have a clear understanding. This article provides you with step by step information on how to get commercial car insurance and why it is essential.

Types of vehicles

Depending on the type of vehicle that you drive and activities that it is involved in, it is crucial to make sure you have the right information from the start. Your insurance broker should be able to provide you with information that guides you well when it comes to making decisions. 

You may need a commercial car insurance policy if:
  • Your vehicle transports goods and offers passenger services to people at a fee 
  • Your vehicle provides commercialized services 
  • You need higher limited liability because of the businesses you do with it
  • Carry considerable weight in the form of tools and equipment 
  • Its employees operate the vehicle 
  • Its ownership is registered in the name of a business or company
Why do you need commercial car insurance?

Certain types of vehicles and cars may not be able to be insured at a personal level, and this is because of the kind of activities that they are involved in. Personal car insurance policies were not tailored to meet the needs of businesses. They were drafted and rated differently as a way of attracting individual car owners. However, it is essential to note that most companies have requirements that are not listed down under the personal car insurance model. Determining whether you need personal or commercial insurance can be challenging, and it is, therefore, vital to consult an insurance broker.

What does the commercial insurance plan cover?

Like personal coverage, the commercial insurance model provides coverage for many things, including liability, comprehensive insurance cover, collision, and payment of medical fees for those who are injured. Below is a list of areas covered and provided by a commercial car insurance policy:

    Bodily injury coverage 
  • This policy pays for injury fees: In case of an injury resulting from your fault and need treatment. In addition to that, the model, in some instances, also pays for your legal insurance.
  • Damage to property coverage
  • In case your vehicle damages another person’s property as a result of an accident, this policy pays for it as well as with legal fees. 
  • Combined Single Limit
  • It applies if there is a bodily injury and at the same time, damage to property. This policy has the same compensation, whether there was a physical injury or damage to property as a result of an accident. 
  • Medical Payments
  • In the event of an accident and driver plus occupants of your car get injured, this policy can pay for the medical fees regardless of whose fault it was.
  • Uninsured motorist coverage
  • This model pays for your injuries and damages that are caused by uninsured motorists; an excellent example of this is a hit and run. The policy applies where the driver at fault does not have enough insurance. 
  • Comprehensive physical damage
  • It is comprehensive insurance coverage that protects your car from events like theft, fire, vandalism, and other factors that are beyond your control and covered in the insurance plan. 
  • Collision coverage
  • Collision coverage pays for your car in the event of damage caused by it hitting another vehicle or getting hit from any side. It is the most straightforward coverage.
Large Commercial Freight

Who is covered under a commercial car insurance policy?

Most commercial car insurance in Ontario covers family members, employees, and other people as drivers. If anyone drives your car regularly, then it is advisable to add them as drivers when choosing to go for this policy. This makes it easier if there is an accident, and you need to make a claim. 

Where do I start?

So, you have a commercial car and want to insure it? Searching for the best car Insurance in Ontario can be time-consuming. Many providers have flooded the market and rates vary from one another, thus making it difficult to make a decision. Making use of an insurance broker is the best alternative as far as finding an insurance plan is concerned. 

Who is an insurance broker?

An insurance broker is someone who you task with the responsibility of looking for any insurance. Insurance brokers help you identify the right insurance plan that suits your needs and at the same time, guide you. Brokers are experts when it comes to looking at your budget and the available insurance plans, helping you choose the best commercial insurance policy. Directed by your current situation, they know how you can get ideal insurance that meets your needs. Their partnership with insurance companies grants them insight into which coverage is available in the market. 

Importance of Insurance Brokers

The question on many minds of people is, why should someone go through an insurance broker instead of going to the insurance directly? Going through an insurance broker means that you are getting the best coverage and the most out of your money. Insurance brokers look at the market and highlight commercial insurance in Ontario, comparing prices and recommending the best option to suit you.

My Insurance Broker

My Insurance Broker provides you with the easiest way to find commercial insurance. Professionally designed and with a business model that suits your needs, My Insurance Broker is the best when it comes to guiding you on which plan you should choose. As a company, My Insurance Broker is dedicated to serving you while guaranteeing 100% satisfaction. Reliability and trust are values we are built on, and your success is always on top of our list. 

Why get insured with us?

There are many reasons why you should choose to be insured with us. You can select from a wide range of prices and settle on one that suits your needs. We forge partnerships with the best 25 different commercial insurance partners in the industry. We take customer needs seriously, and our tailor-made solutions ensure you get support whenever there is a need. Our prices are also unbeatable, and you get value for your money.

What are the benefits? 

As the fastest growing insurance business in Ontario, we get you the most value at the price you are looking for. Our products are tailor-made and with you in mind. Below are some of the benefits that you get from us:

  • We give you better pricing you will not find anywhere in the market 
  • Our service delivery is enhanced and makes it easy for you to get support at any given time to have your questions answered 
  • We are an independent company whose desire is only to serve you. 
  • We partner with leading insurance companies in Canada, and this guarantees you the best when it comes to safeguarding your interests.
What are the services?

You get the best quotes from insurance companies in Canada that are accompanied by customer care and support that will exceed your expectations. Diverse options in the insurance market are what we provide and in return, allow for informed decision making. Contact us for commercial car insurance policy options from providers that you can easily understand and rate. Our platform is easy to use, and we have metrics to help you visualize what to expect. 

What should you do? 

You must decide on which is the best commercial auto coverage for you. The first step will be to visit our website https://www.myinsurancebroker.comand check the options that are available to choose from. Feel free to contact us and ask for more information or a quote. Let us know the kind of car you own and the nature of the commercial activities that you are involved in, and we’ll give you a solution. Trust us for your commercial insurance needs when it comes to car insurance in Ontario.

My Insurance Broker
Richmond Hill Support Centre
AddressMy Insurance Broker
50 West Wilmot Street, Unit 5
Richmond Hill, ON L4B 1M5
Toll-free1 (855) 482-5001
Phone(905) 695-2080
Fax(905) 695-8820
Mon-Fri9am - 6pm
Sat10am - 1pm
Questions? I'm here to help.
Get your insurance quote over the phone—in minutes!
We are available M-F 9am-6pm and will call you as soon as possible. Feel free to call us at 1 (855) 482-5001 During normal business hours.