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You work hard to grow your business; choose a broker committed to helping you get the most out of your policy. The All Write Insurance Fleet team is comprised of Fleet Insurance professionals dedicated to servicing the needs of our commercial auto customers. We pride ourselves on building long-term relationships by providing our clients with the highest level of service.
All Write Insurance Team offers both ICBC Fleet Insurance and private insurance. Clients have direct access to experienced Fleet Specialists and customized reporting services including claims analysis and fleet schedules.
A fleet is 5 or more vehicles (trailers do not count towards eligibility, but can be included and receive a discount after the fleet is established) that are registered and/or leased to a single individual or company. Fleets with 5 to 19 vehicles have the option to enroll in a fleetplan, fleets of 20 or more vehicles are required to enroll.
Fleet premium discounts are based on the cost of your claims, as opposed to when you insure a vehicle individually, where the quantity of claims matters.
ICBC calculates your fleet discount using your adjusted claims cost and your gross premium to create a “fleet loss ratio percentage.” Claims costs are adjusted by capping them at a certain limit; most claims are capped at $7,500 per coverage but this can change depending on a particular fleet’s experience. The loss ratio is calculated using the following formula:
The Loss Ratio Percentage is then rounded up and deducted from the maximum possible discount of 63%; the resulting amount is the fleet discount for the year. For example:
Rounding up 28.57% gives you 29%, which you deduct from 63% to get the annual fleet discount: 34%
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