How Fleet Insurance Streamlines Your Commercial Vehicle Needs

Managing a fleet of vehicles isn’t just about keeping them on the road. It’s about strategically protecting your investment with the right insurance plan. And did you know that if your BC business has five or more commercial vehicles, it may be advantageous to have fleet insurance instead of standard vehicle insurance? Here’s everything you need to know about fleet insurance and how it can streamline your commercial vehicle needs.

Fleet Insurance Defined

To begin, you’re probably wondering, “What exactly is fleet insurance?” Simply put, fleet insurance is a comprehensive insurance policy covering five or more motor vehicles registered or leased to you or your company for commercial or business use. In other words, it’s designed for business owners to insure multiple vehicles under a single plan.

Fleet vs. Standard Insurance

How is this different than having standard vehicle insurance? Well, for one, you don’t have to list all the drivers of your vehicles. With standard policies, you must physically go in and review your drivers list regularly to add or remove drivers; however, fleet insurance erases that whole requirement, thereby streamlining the process for you.

Beyond this, arguably the biggest perk is that when you have five or more motorized vehicles insured with ICBC, your discount can go up to a whopping 63%! Of course, every company wants to find ways to improve their bottom line, making this discount very attractive to many businesses.

Further Benefits Of Fleet Insurance

With fleet insurance, you’ll also enjoy standardized coverage—meaning you can rest easy knowing your vehicles are fully protected—and all your vehicles will come up for renewal at the same time. That way, there’s less chance of you missing renewal and potentially driving around without insurance.

Not to mention, when you work with one of our fleet specialists, you can fill out a letter of authorization enabling our team to sign your policies on your behalf, taking this task completely off your plate! We also offer periodic reviews to ensure there are no gaps in your coverage, further simplifying your experience and giving you peace of mind.

Insure Your Fleet With Waypoint Insurance

While you may think fleet insurance is complicated or hard to navigate, working with our experts at Waypoint Insurance will streamline the entire process. Plus, we’re always looking for ways to improve our fleet insurance for our clients. For example, we recently created a coverage option offering fleet clients replacement cost coverage on their vehicles, rather than coverage based on depreciated values which is what ICBC always deals in.

Ultimately, protecting your investment with fleet insurance has never been easier thanks to our fleet specialists at Waypoint Insurance. With our long list of specialties, including auto dealerships, rental agencies, repair garages, landscape businesses, moving companies, taxies, construction companies, and more, we have the right fleet insurance policy for your BC business.

For more information on fleet insurance, visit our fleet page here.