How we calculate fleet premiums
For each vehicle in your fleet, the premium is based on the business use of the vehicle, the territories in which it operates and the value of the vehicle.
Once these factors are taken into account, the overall fleet discount or surcharge is applied.
The fleet discount or surcharge is based on the fleet's "loss ratio" over a three-year period. Fewer at-fault claims means a lower loss ratio and a higher fleet discount.
The loss ratio is the percentage of the fleet's total premium (before discount) compared to all dollars used to pay for the fleet's at-fault claims.
Further discounts for large fleets
We have a voluntary, performance-based program (Fleet Premium Adjustment Agreement, or "Retro") that can earn large fleets up to 35 per cent in premium returns.
To join, you just need to
- insure more than 200 vehicles, or
- have an annual premium after discount of $100,000 or more.
Premiums are based on your loss ratio
|your loss ratio is 25% or less||you receive 35% of your annual premium back the following year|
|your loss ratio exceeds 65%||you will have to pay an additional 10% of your annual premium|