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At L.D. Dermody Insurance Brokers, we strive to keep your business moving in the right direction. When it comes to finding the best commercial automobile insurance, it's not only important, it's critical!
Including single vehicle policies, we also offer great Fleet Policies which allow for multiple units to be placed under one policy. Ratings are based upon the particular vehicle, the use, as well as the driver's experience.
Each business has their own individual, unique needs, and the use of each vehicle requires special consideration. There is no “one size fits all” insurance policy and we find you the right fit for the best price.
Below are some of the many types of commercial automobile business that we service:
Automobile Dealers
Car Wash and Care
Repair Garages
Service Stations
Plumber
Electrician
Contractor
Retail and Wholesale Deliveries
Sand and Gravel
Ontario law requires that all vehicles driven on the road must have automobile insurance. Drivers found driving without insurance can immediately have their licence suspended and vehicle impounded. A conviction of driving a vehicle without insurance could result in a fine that can range from $5,000 to $50,000. More importantly, if you are found to be at fault for an accident causing injury or death to another person, you may be held personally responsible for his/her medical costs and other losses. This could be in the millions of dollars!
In Ontario we have what’s called “No-fault” insurance. This means that for the majority of the time you deal directly with your own insurance company, regardless of who is at fault in an accident. Legal action against the responsible party is not permitted unless a certain “threshold” is exceeded. While this threshold may be monetary, it may also relate to the severity of injuries sustained. For example, seriously injured claimants may sue for pain and suffering provided the monetary threshold has been met, but not for loss of income and other economic losses resulting from the injury. Legal action is also permitted when an injured person dies, or sustains serious disfigurement, and/or impairment of important physical or mental function.
The intent of No-fault is to speed up the claims process because you deal directly with your own insurance company rather then waiting for the companies to decide who is at fault and having to deal with the other persons insurance company.
The percentage of being "at-fault" in an accident is determined by the respective insurance companies who's drivers are involved in the accident . They refer to Ontario's Fault Determination Rules to help make this determination. Assessing fault ensures proper coverages are applied to an accident and makes sure the at-fault drivers premiums are adjusted accordingly.
Bodily Injury and Property Damage – Provides coverage to the insured, and any other person who with the insured’s consent personally operates the vehcile or any part of the vehicle, against liability imposed by law upon the insured or such other person for loss or damage arising from the ownership, use or operation of the car resulting in bodily injury or property damage. This coverage is restricted by the limit of liability purchased by the insured.
Direct Compensation/Property Damage – Covers the cost of damage to the car, its equipment, and contents, and the cost of loss of use of the car or contents arising from an accident for which another person would have been legally responsible. For example, if you have an accident that is not your fault, you would claim under direct compensation for property damage to your car.
Accident Benefits – Include medical payments, funeral expenses, disability income benefits, death benefits and dismemberment benefits. These are available to all insured parties injured in an accident regardless of who is at fault.
Uninsured Automobile – Provides coverage if you or other insured persons have a collision with an uninsured motorist or a hit and run driver. This insurance covers damage to your car and its contents caused by an identified uninsured motorist, subject to a deductible.
