Any business with company vehicles can benefit from a fleet plan, whether it be a large transport operation, a trade or contracting company, a sales force, or a small business.
ICBC’s minimum requirements for a fleet plan are five or more motor vehicles that are registered or leased to you or your company, and the vehicles are primarily used for commercial or business purposes. Trailers can be included in a fleet once the minimum requirement for motor vehicles is met. The company must have been in effect for two years, as well as the ownership/lease of a vehicle in the company name must have been for a minimum of two years.
The financial benefit is that a fleet plan discount can be as high as 63 percent.
The administrative benefits include vehicle licenses and insurance expiring on the same date for all vehicles in the fleet, as well as no need to declare a principal operator.
Our fleet service takes administrative ease to the next level, ensuring that your fleet insurance is easily managed and convenient. Our service includes pick up of your fleet package, and review and identify any potential coverage, inspection, or compliance issues. We will then process it and deliver all back to you ready for distribution. We also offer a billing account and our delivery service, with mid-term changes and additions, for your convenience.
The discount for a fleet plan is calculated by a loss ratio calculated over a 3 year period. This period is deferred, making it easier for you to manage claims that attach to your history. We help you monitor and navigate this process to ensure the best discount applicable every renewal.
Fleet plan is optional if your company has up to 19 motor vehicles, however, if your business has 20 or more vehicles, fleet plan participation is mandatory.
Our goal is to make the insurance administration of the fleet as hassle-free as possible for you so you can concentrate on other important aspects of your job.