Commercial Auto Insurance for General Contractors
Get the best commercial auto insurance quotes for contractors from Canada's largest insurance companies!
General Contractors Commercial Auto Insurance
Contractor Commercial Auto Insurance
Do I need Commercial Auto Insurance as a Contractor?
Are you a general contractor? Do you own or are planning to buy a work van/truck where you will carry tools and equipment and drive to clients homes/job sites? Do you have employees who use your vehicles for various work related tasks?
If this is the case, you will require a commercial auto insurance policy for your vehicle. If you take a closer look at your personal auto insurance policy and application, you will see commercial use of the vehicle is not included in your policy.
Should an accident happen while you are driving to a clients house or on the job, the insurance company may reject your claim as you have breached the contract.
This is the last thing you would want as many claims cost in excess of $10,000!
The good news: Commercial auto insurance policies in many cases are much cheaper than standard personal auto policies.
Over the last few years, personal insurance rates have been increasing very quickly due to claims, vehicle repair costs and fraud while commercial rates have been more stable.
How Can I get The Best Contractor Vehicle Insurance Rate?
Shopping for commercial auto insurance is very similar to personal auto insurance in many ways. Some of the factors that affect your premium include where you live, the type of vehicle you use (light or heavy vehicle) and your driving record.
Each Insurance company will have different rates based on their own individual statistics and claims ratios. The best way to look for a good rate is to compare pricing across all commercial auto insurers.
At Ambroziak & Rao Insurance Brokers, we know the unique requirements of general contractors and can tailor your policy to your needs. A lot of your work is on the road raising your chances of an accident by a lot! Be sure to be properly covered when your in transit.
Insurance Tips for General Contractors
How Are Contractors Auto Insurance Policies Rated?
Below are three important factors that affect a contractors commercial auto insurnace policy.
Just like with personal auto insurance, your address will have an impact on your commercial insurance rate. High risk areas will be more costly.
Commercial auto policies are rated based on vehicle usage. Luckily, contractors get great commercial auto insurance rates!
The vehicle will have an impact on your commercial auto insurance rates. Generally the larger the commercial vehicle the more costly the rate.
What is required by Law?
Contractor Commercial Auto Insurance Coverage
As a general contractor, your commercial auto insurance policy will still include the standard auto insurance coverages. You will have the option to add collision and comprehensive coverage as well which cover you if the accident was your fault.