Fleet Insurance
Fleet Car Insurance
Managing multiple vehicles can be complex and costly—fleet insurance simplifies coverage, reduces expenses, and keeps your business moving without the hassle of individual policies.
If you have five or more vehicles that are leased or registered under a company, and used for business or commercial purposes, it may be time to consider a fleet insurance policy through ICBC.
Fleet insurance is a cost-effective solution for businesses operating multiple vehicles, providing comprehensive coverage under a single policy. Instead of insuring each vehicle separately, fleet insurance simplifies management, reduces administrative hassle, and often results in lower premiums. This type of policy is ideal for companies in industries like transportation, logistics, delivery services, and trades.
At Gold Leaf Insurance, we specialize in providing customized fleet insurance solutions in Surrey, BC, ensuring that businesses get the right coverage for their specific needs. Whether you have a small fleet of service vehicles or a large commercial operation, our team helps you navigate policy options to secure optimal protection.
Goldleaf Insurance Brokers | Life, Auto & Commercial Insurance
Phone: (604) 591-6200
Email: info@goldleafinsurance.ca
Address: 13049 76 Avenue #102,Surrey, BC, V3W 2V7
Hours:
Eligibility Criteria for Fleet Insurance
To qualify for fleet insurance, businesses typically need a minimum of five vehicles, though this requirement can vary depending on the insurer. Both owned and leased vehicles can be included, offering flexibility for companies with mixed-use fleets.
Fleet insurance is ideal for businesses in industries such as:
- Transportation & logistics
- Construction & trades
- Delivery & courier services
- Passenger transport (taxis, rideshares, shuttles)
Regardless of fleet size, we work with you to tailor coverage that meets your operational needs.
Types of Vehicles Covered
Fleet insurance varies in policies as it can cover a wide range of commercial vehicles, including:
- Passenger vehicles: Company cars, taxis, and rideshare vehicles
- Delivery vehicles: Vans, cargo vans, and courier vehicles
- Trucks: Light, medium, and heavy-duty trucks used for hauling goods
- Specialized vehicles: Tow trucks, dump trucks, construction vehicles, and more
Whether your fleet consists of a few work vans or a mix of trucks and specialty vehicles, we help find the right policy for you.
Coverage Options and Benefits
A comprehensive fleet insurance policy typically includes:
- Third-Party Liability – This covers legal and financial responsibilities if your vehicles cause injury or property damage to others.
- Collision Coverage – Pays for repairs or replacement if a vehicle is damaged in an accident.
- Comprehensive Coverage – Protects against theft, vandalism, fire, and natural disasters.
- Uninsured/Underinsured Motorist Protection – Covers damages if an uninsured driver is at fault in an accident.
Optional Coverages (which are added to your fleet insurance cost if selected) include:
- Replacement Vehicle Coverage – Ensures you have a temporary vehicle while repairs are being done.
- Roadside Assistance – Covers towing, lockouts, battery boosts, and emergency repairs.
- Loss of Use Coverage – Provides compensation for downtime when a vehicle is out of service due to an insured event.
With our expert guidance, we tailor your coverage to suit your business needs.
Factors Influencing Premium Costs
Your commercial fleet insurance cost can vary, and several factors impact the cost of fleet insurance, including:
- Number of vehicles – Larger fleets may qualify for bulk discounts on fleet insurance.
- Vehicle type & usage – Heavier, high-value, or high-mileage vehicles may have higher premiums.
- Driver history – Clean driving records of fleet drivers can lower costs, while frequent accidents increase them.
- Claims history – A business with fewer past claims may receive better rates.
- Coverage limits & deductibles – Higher limits and lower deductibles typically lead to higher premiums.
We work with you to optimize commercial auto coverage while keeping costs manageable. Contact us for a free insurance quote: (604) 591-6200
Legal and Regulatory Compliance
In British Columbia, businesses operating fleets must comply with ICBC’s commercial auto insurance policy regulations. Key requirements for commercial fleet insurance include:
- Mandatory third-party liability coverage (minimum $200,000, but higher limits are recommended)
- Proper vehicle classification based on business use
- Valid Commercial Vehicle Inspection (CVI) for applicable vehicles
Non-compliance with proper commercial auto insurance for a fleet vehicle can lead to fines, legal issues, or coverage denial.
Our team ensures your fleet vehicle insurance policy meets all BC legal requirements and you have the commercial auto insurance you need for your business purposes. Comprehensive coverage protects your business, and drivers and can also help you save money.
Claims Process and Support
Filing a claim under a fleet insurance policy is a straightforward process:
- Report the Incident – Notify us immediately with details of the accident, damage, or theft.
- Gather Documentation – Provide accident reports, photos, and witness statements if applicable.
- Claim Review & Processing – Our team assesses the claim and coordinates with the insurer.
- Repairs & Settlement – We facilitate vehicle repairs or replacements and process payments efficiently.
Our dedicated claims support ensures minimal downtime for your business.
Need to file a claim? Have questions about accident benefits, insurance premiums, third-party liability coverage or your commercial auto policy?
Contact us today via phone (604) 591-6200 or email info@goldleafinsurance.ca
How are the rates set
Discounts or surcharges are based on the cost of at-fault claims of all the vehicles in the fleet over a three-year period. The fewer at-fault claims a fleet has, the greater the premium discounts.
Large fleets can earn money back
A customer with a fleet of more than 200 vehicles or the net insurance premiums of $100,000 or more in a year, is eligible for ICBC’s retrospective rating program. If a fleet achieves and maintains a high standard of safe driving, up to 35% of the premium may be refunded the following year.
Goldleaf Insurance Brokers | Life, Auto & Commercial Insurance
Phone: (604) 591-6200
Email: info@goldleafinsurance.ca
Address: 13049 76 Avenue #102,Surrey, BC, V3W 2V7
Hours:
Fleet discount/surcharge calculation
ICBC system allows Goldleaf Insurance to calculate fleet discount/surcharge and quote discounts on demand. We may create multiple quotes, copy existing quotes, and retrieve premium and claims history. Lastly, we may quote different combinations of “claim repayment scenarios” to determine the best course of action for customers.
New fleet applications
With ICBC system, we can initiate a new fleet application on our own, key the required information, and the system will retrieve premium and claims history. The system also calculates the fleet discount/surcharge. If our customer accepts the quote, the system will assign a fleet number. We can then begin issuing policies to the fleet, without the delay of having to contact ICBC.
Fleet renewals
ICBC Policy Center provides a discount/surcharge quote approximately 45 days before the expiry of the fleet. Attached to the quote we can find the fleet’s premium and claims history. Using the fleet discount/surcharge quote calculator, we can identify claim repayment opportunities for our customer. By exporting the data to a spreadsheet, we can do calculations outside of the Policy Center.
Customers will receive a renewal reminder for the fleet. The Policy Center will create draft renewals for the policies on the fleet for us. The Policy Center also provides a draft plate list on demand that we can use to confirm the renewal details of each policy issued to the fleet. The draft plate list can be downloaded as a spreadsheet and sent to our customer to review and confirm details.
We can process each fleet APV250 in the same way that non-fleet APV250s are processed in Policy Center. More than one broker can work on a fleet renewal at the same time, so long as they work on different APV250s.
Fleet payment
We can process a fleet APV250 like any other APV250 in Policy Center, but payment is handled differently. To allow customers to make a single payment that will cover several transactions, issuing policies and collecting payment are separate processes.
In the Policy Center, each fleet has a payment shell. There are two types of payment shells: prepaid and payment plan. The prepaid payment shell contains all charges the customer will pay using cash, cheque, credit, or debit. The payment plan shell contains all charges paid by payment plan.
We must select the correct payment shell before the policy is issued. Once the policy is issued, the payment method cannot be changed.
Policy Center requires payment to be collected on an issued policy before we process further transactions.
For fleets that will be financed, please ensure to issue/renew both a payment plan payment shell and a prepay payment shell. This will prevent issues arising from when the payment plan has closed for the fleet term.
Letter of brokerage/designated broker
If the customer has a designated broker, access to the fleet file screens is restricted to only the designated broker. The fleet file screens provide access to the Draft Plate List, quotes, and claim repayments. If ICBC does not receive a letter of brokerage for a fleet (meaning, there is no broker name and number attached to the fleet file), then any broker is able to access the customer’s fleet information.
