Commercial Auto Insurance Ontario

Commercial auto insurance covers vehicles owned or used by a business. It includes mandatory Ontario automobile insurance coverage and may include optional protection for damage to the insured vehicle.

You may need commercial auto insurance when a vehicle is registered to a business or used for commercial purposes. This can include carrying tools or materials, making deliveries, visiting job sites or regularly travelling for work.

The cost depends on the vehicle, business use, operating radius, annual kilometres, driver records, insurance history, coverage and deductible. A broker will need details about the business, vehicle and drivers to provide a quote.

Anyone who regularly drives the commercial vehicle should be disclosed to the insurance company. The insurer may request driver's licence information and details about each person's driving and insurance history.

Some commercial auto policies permit personal use by an approved driver. The type and amount of personal use should be disclosed when arranging the policy.

Commercial auto insurance generally does not insure tools, equipment or merchandise carried inside the vehicle. Separate property, equipment or cargo coverage may be required.

Coverage for rented or borrowed vehicles may be available through an endorsement or separate non-owned automobile coverage. Confirm the coverage and limitations before renting a vehicle for business use.

Commercial auto insurance premiums may be considered a business expense when the vehicle is used to earn business income. Speak with an accountant or tax professional about your specific situation.

It can be. Commercial vehicles may travel farther, carry equipment or be driven by several employees. The premium depends on the actual vehicle, drivers and business use.