Insurtech Zensurance has announced that it has expanded the availability of its commercial auto and fleet vehicle insurance products to clients in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island.
The products will allow small business owners, self-employed contractors, and even employees of companies who use their own vehicles for work to secure the proper coverage for their vehicles and save as much as 35% on costs, the insurer said.
"For any small business owner, independent contractor, or anyone working in any industry across Atlantic Canada that relies on their vehicle to do their jobs, a commercial auto insurance policy is a vital protection to have to cover the cost of damages or injuries resulting from a collision or losses sustained from unexpected incidents," said Zensurance’s contractors team lead Joe Sarraino.
Sarraino additionally explained that if an individual is using their own vehicle to transport packaged goods, raw materials, tools, equipment, or even other people as part of their work, that person’s personal auto insurance policy is unlikely to cover any claims for damage or loss.
The team lead and licensed broker has recommended that individuals looking into commercial auto should also consider optional coverages to further enhance their protections.
"For most people, driving is the most dangerous thing they do. Any time you get behind the wheel, you're at risk of getting into a collision no matter how cautious a driver you are," said Sarraino. "Furthermore, drivers of commercial vehicles tend to drive lengthy distances more frequently and are on the road more often than other motorists. Plus, they usually carry expensive equipment or people with them.
Despite making a good part of the Canadian economy, small business owners are surprisingly lax when it comes to their insurance needs. Last year, Zensurance revealed the results of a survey it conducted, which found that 40% of small business owners indicated that they do not have a business insurance policy. Among those who do not have a business insurance policy, 25% said they do not think they need it, while others said it costs too much.
