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
you're insuring fewer than 20 motor vehicles, and
your vehicles are primarily used for business purposes.
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
the driving experience and claims history of the driver(s) of your vehicle
your eligibility for any discounts
the business or commercial purpose of your vehicle
where it's driven or stored (also called territory)
You will be asked to list those who drive your non-fleet commercial vehicle(s). The person who operates a non-fleet commercial vehicle the most is now the principal driver, and you should list other drivers who will operate the vehicle. You will need the date of birth and driver’s licence number for everyone you want to list. For more information about listing drivers visit drivers, experience and crash history, and for more information on a driver’s risk, read about the new driver factor.
Crashes follow the driver. If your employee is the driver in an at-fault crash, and depending on the rate class of the vehicle involved, then it may affect future policies where they are listed as a driver unless the claim is repaid. Visit drivers of fleet or business vehicles for more information.
Two discounts are available to ICBC customers: low-kilometre discount for vehicles driven less than 5,000km a year and a safety discount for vehicles equipped with factory-installed autonomous emergency braking.
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:
hauling dangerous goods
gross weight of your vehicle
distance operated(for commercial-delivery rate classes)
passenger carrying capacity (for buses).
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.
Your commercial vehicle has a unique value.
Its value can't be clustered with others of a similar make and model.
To purchase individually rated commercial insurance or to discuss your options, contact an ICBC Autoplan broker.
