If you own or lease several vehicles, you can benefit from ICBC's sliding scale of discounts based on the whole fleet's claim record.
A fleet is 5 or more vehicles that are leased or registered to one party and insured for business or commercial purposes. The party can be a person or a company.
If you have 5 to 19 vehicles, you can choose whether to take part in ICBC's fleet program. If you have 20 or more, you have to take part.
By insuring all of your vehicles under a fleet plan, you can:
Discounts or surcharges [definition] are based on the cost of at-fault claims of all the vehicles in the fleet over a 3-year period. The fewer at-fault claims your fleet has, the greater your premium discounts.
If your fleet has more than 200 vehicles or your net insurance premiums are $100,000 or more in a year, you are eligible for ICBC's retrospective rating program. If your fleet achieves and maintains a high standard of safe driving, up to 35% of your premium may be refunded the following year. It pays to make safety a priority!
The provincial government's Commercial Vehicles website explains more about rules specific to those vehicles.
The ICBC guide, Farm Vehicles On the Move, provides more information on farm fleets. (Opens new window to an external website.)
