If your business insures fewer than 20 motor vehicles, separate (individually rated) insurance policies for each of your vehicles might be the right fit for you.
To discuss your options or to purchase insurance, contact an ICBC Autoplan broker.
You can purchase insurance separately for each of your vehicles if
Note: If you're insuring five or more vehicles, you have the option of participating under Fleetplan.
With individually rated commercial insurance, you buy policies for each vehicle. It's similar to buying regular car insurance.
Insurance premiums are calculated based on factors like
Note: you need to declare a principal operator for your vehicle.
Many of our rate categories align with business or industrial uses.
For example, we have rate categories for farming, fishing, construction, silviculture, taxi and limo use, bus service, and delivery of goods.
Other factors influencing your insurance:
Note: If you're carrying passengers for compensation or hire, your vehicle must meet specific safety inspection requirements.
Unlike most personal vehicles, commercial vehicles are rated by declared value. You declare the value of your vehicle to your broker. The value may be reviewed at every renewal.
The declared value should reflect the actual cash value of the vehicle. This is the value a prospective buyer would be willing to pay for the vehicle just before an accident that damaged it.
To purchase individually rated commercial insurance or to discuss your options, contact an ICBC Autoplan broker.