No matter how small or large your Alberta business, commercial insurance will help protect your company from financial losses. It could be the most important differentiator between staying afloat and going under, especially in case of damages or expensive lawsuits. While business insurance may protect your company assets, business income, and third party obligations, when it comes to your commercial fleet of vehicles, you need to insure them separately.
Whether you own light vehicles, heavy steam trucks, pickups, or long haul trucks, the specific needs of your business and vehicles should be incorporated into the type of product or policy you select. This is especially true if your productivity and revenue is dependent on these vehicles and their transportation efficiencies. If you are looking to insure your commercial vehicles, in and around Calgary, Medicine Hat or Brooks, make your first call to the trusted and qualified brokers at TSG Insurance. Our team of licensed professionals will help you select the best possible options for one-truck operations, as well as large fleets.
The Basics of Commercial Vehicle Insurance
The rates for commercial vehicle insurance depend on a number of factors such as:
- The model of the vehicle
- The area where the vehicle will operate
- The average daily distance that will be travelled. If these are long haul trucks, the risk of costly damages and repairs is high, especially theft or vandalism during rest stops, or while loading and unloading the goods.
- The purpose for which the vehicle will be used. For example the delivery of goods, transportation of people to job sites, collection of raw material, etc.
- Driving record of the drivers
- History of auto insurance claims made by the company/ business
Whether you buy commercial vehicle insurance for a single vehicle or a huge fleet of vehicles, here are some aspects to consider regarding the inclusions in your policy:
- Will your insurance cover any loss, theft or damage to tools, equipment or goods that you are transporting?
- If your truck or van is in an accident and stays out of use for a certain duration, will the loss of income coverage be applicable?
- How to determine the right amount of liability coverage?
- What are the accident coverages and benefits? How do nature and financial situation of my business impact my choices?
In addition to basic commercial vehicle insurance, you can look at purchasing several additional coverage options, including stop gap coverage, extended coverage for loading, unloading or mis-delivery of products, and blanket additional cover.
Reliable Insurance Services to Cover Your Commercial Vehicles
At TSG, we have over 30 years of experience serving residents of Calgary, Brooks and Medicine Hat with a wide range of commercial vehicle insurance programs. As an independent brokerage, we work with hundreds of established insurance companies that specialise in trucking and other commercial vehicle risks and offer a comprehensive range of products. We can offer products that cater to oilfield fleets, long haul trucking, light vehicles, heavy vehicles, recreational vehicles, and more. Moreover, our licensed brokers are familiar with the challenges associated with commercial vehicles coverage and will help you with customized insurance programs that suit your requirements and budget.