The world of commercial insurance can be an unforgiving one. The requirements are sometimes steep and hard to understand and the coverages can be confusing at the best of times. This is why it's important to have an experinenced commercia linsurance broker on your side to guide you through your risks and coverage needs as a commercial business.
Your neighbour drives a BMV M Roadster, while you get around in a sporty 2000 Honda Civic SiR. You both have clean driving records and travel the same distance to work. The BMV is worth more than the Civic, and then the shock comes—you’re paying more for auto insurance. Consumers are left asking why—well, the answer is clear.
Every vehicle make, model and year available in Canada is rated according to the Canadian Loss Experience Automobile Rating (CLEAR) system. This rating system assesses each type of vehicle based on expected claims frequency and cost, and the likelihood the vehicle will be stolen. This assists in calculating insurance rates—the lower the claims risk, the lower the rates, and the higher the claims risk, the higher the rates.
Road trips are par for the course in the summer, so stone chips and glass repair are part of life as a vehicle and carinsurance owner. Windshields get chipped and cracked all the time. While stone chips often occur at the most inopportune times, they cannot be neglected and should be attended to in short order.
Spring is here in Alberta and even though the roads are no longer icy, the hit still keep on coming. One of the most common questions we get is: What should I do after having a car accident?
You May Qualify for Fleet Insurance
If you have at least 5 motorized commercial vehicles you may qualify for fleet insurance. Managing your commercial auto fleet well and showing the insurance company you have good procedures in place that are producing good loss experience will save you money.