Commercial Fleet Insurance in Ontario

What is Fleet Insurance?

Commercial fleet insurance are contracts of auto insurance coverage for at least 5 company vehicles. Commercial businesses, taxi companies, farms, and some specialty businesses like limousine services commonly insure their fleet of vehicles under one commercial fleet insurance policy.

Below, our Huronia insurance brokers have outlined what constitutes a fleet, and provides brief explanations of what each area of coverage involves.

3 Parts Comprising the Definition of Fleet

For fleet insurance purposes, all three parts must be satisfied to constitute a Fleet:

  1. Fleet must have 5 vehicles minimum
  2. Fleet must either be Commonly Owned or Commonly Managed
  3. Fleet must be used for commercial, business, or public purposes

Benefits of Fleet Insurance

There are 5 sections associated with your fleet insurance policy:

  1. Direct Compensation

    Covers loss of use and damage to your vehicle if someone else was at fault for the accident.

  2. Physical Damage

    Includes the following 4 sections of coverage:

    1. Collision: Vehicle impact with another object such as a building, a vehicle, a guardrail, or roadway (including rollover).
    2. Specified Perils: Vehicle theft, fire, break-in, flying objects, falling objects, vandalism, natural disasters, and a host of other circumstances.
    3. Comprehensive: Losses not addressed by Collision including impact with an animal.
    4. All Perils: Combines Collision, Upset, and Comprehensive coverage including loss or damage caused by a person living in your home who steals your vehicle.
  3. Third Party Liability

    Coverage for property damage or when third party injury or death is involved. Currently, the minimum coverage in Ontario is set at $200,000, but it is strongly recommended that the limit for each vehicle be extended to $1,000,000.00.

  4. Uninsured Automobile

    Coverage in the event of death or injury caused by an uninsured driver or vehicle, including hit-and-run.

  5. Policy Endorsements

    There are 5 most commonly used endorsements to enhance your fleet insurance coverage.

    1. Fleet Protection or Forgiveness Coverage for Accident

      Covers driving record and preferred rating in the event of a first-fault

    2. Fleet Protection Coverage for Individuals

      Involves not only the driver but also a passenger such as a crew member.

    3. Fleet Coverage For Loss of Use

      If damage is covered by an insured peril, expenses required to rent another vehicle during repair are then covered.

    4. Fleet Depreciation Deduction Removal

      Depreciation not applied in the event of a loss to owned or leased vehicles (usually within 24-28 months of lease or purchase). Coverage variation depends on insurance company policy.

    5. Fleet Liability for Non-Owned Vehicles

      Covers damage to a vehicle you may not own such as borrowed vehicle or rental.

As you can see, there are multiple factors to consider before purchasing Fleet Insurance.

For more information about commercial fleet insurance, or if you still have questions, contact our Huronia Insurance Group brokers today by calling 1-866-955-8386. You can also send our business insurance brokers an email or fill out our online contact form.

Request a quote.


Business Insurance Quote Request
  • Contact details:
  • Comments/Business Description:


Simcoe Region

New Tecumseth
Wasaga Beach

York Region

New Market
Richmond Hill

Durham Region


Halton Region


Other Counties

Thunder Bay