Preventative maintenance for your fleet this winter
When winter hits, there are many things business owners need to consider, ranging from preventative measures against slips, trips, and falls to safety measures while
Deductible Buydown & Downtime
Whether you’re an individual owner, operator or part of a trucking company with a large fleet, you understand the cost and inconvenience of an accident – so do we. One unexpected loss could be very costly to your business.
With one of the most comprehensive deductible buydown and downtime programs available, including coverage for write-offs, theft, and major mechanical breakdowns, we can help you protect your business, your livelihood, and your cash flow so you can keep moving forward.
How can deductible buydown and downtime come to your rescue?
Deductible buydown allows you to manage the level of deductible you can afford, while downtime provides you with income while your truck is off the road. There’s also coverage for write-offs, theft, and road services to help protect you from other unexpected expenses and provide added peace of mind.
Deductible buydown reimburses you for the difference between a standard deductible and a buydown amount, which means you’ll pay less to get your vehicle up and running again in the event of an accident.
For example, say an accident causes $20,000 in damage. If you’ve bought down your standard deductible from $10,000 to $2,000, you’d pay only that amount and save $8,000.
But what if the damage is below the deductible? You’d still benefit. In this instance, you’d normally pay the full repair costs, but with deductible buydown you’re only responsible for the buydown amount. So, if an accident causes $9,000 in damage and you’ve bought down your deductible to $2,000, you’d save $7,000.
Our program also offers additional coverage to help protect you from other unexpected expenses in the event your vehicle is in an accident, experiences a major mechanical breakdown, or is stolen.
- Downtime protection provides reimbursement for when your vehicle is off the road because of a mechanical breakdown or accident.
- Write-off coverage pays you a lumpsum if your vehicle is written off.
- Theft coverage pays you a lumpsum if your vehicle is stolen and not recovered.
Our road services can help protect against costly towing charges. If your vehicle experiences a major mechanical breakdown or cannot be moved under its own power, you can be reimbursed for the cost of towing it to the nearest repair facility, as well as for the cost of any accommodation, meals, or transportation to and from the repair location.
Working with trucks, trailers, and cargo can mean there’s a lot on the line – financially, legally, and with respect to your reputation. You’ll need support to handle the regulation concerns, daily risks, and safety issues that can come with the job. Our transportation experts are there to help you safely navigate your risks on and off the road – from avoiding problems at the outset to covering you if something goes wrong along the way. Learn more about our transportation and logistics services insurance.
Managing Risk
We know that every transportation operation is unique, and the challenges you face deserve careful consideration and a personalized approach. Insurance plays an important role, but it’s not everything – you can lean on our industry expertise, library of focused resources, and confident guidance to take your protection and loss prevention to the next level.
The Northbridge Risk Services team is the most experienced in the transportation industry. Our goal is to share tools and resources that will help you identify risks along with opportunities that can add value and help improve your bottom line.
Each year, our team conducts over 5,000 risk assessments and service calls for Canadian businesses. We’re committed to serving our customers onsite and offsite, applying our expertise wherever – and whenever – it may be needed.
Risk consulting and advising is at the heart of our service. Ongoing industry-specific consultations, Collision Trend Analysis, and hazard analysis add significant value to the insurance programs tailored to customers in the transportation industry.
Our High-Risk Driver Program delivers tangible benefits like reduced violations, increased intervention options for high-risk driver management, and the ability to recognize opportunities to change unsafe behaviours.
What happens during a risk assessment? Take a look at what you can expect.
Northbridge offers a number of specialized training courses and programs, from customized Safety Manager Workshops to defensive driving and safety seminars, like our FACTS driving programs.
The Northbridge Risk Services training center has something for every fleet. Connect with our Risk Services consultants for more information about our training offerings.
We know hands-on help is important, but we also want to give our customers the tools they need to help themselves from the very start. Our library of Risk Insights, along with safety management guides and forms, outline industry best practices and provide safety tips to help you better manage and control risk across your operation.
Resources for Transportation & Logistic Services
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