On Monday, car rental marketplace Turo announced that policyholders of La Capitale General Insurance and its subsidiary, L’Unique General Insurance, are now able to rent cars through Turo’s peer-to-peer service.
According to a release, both La Capitale General Insurance and L’Unique General Insurance have modified their internal guidelines to allow their customers to participate in Turo’s car sharing community.
“This decision by La Capitale Financial Group points to the fast growth of Turo in Canada and the willingness of Canadian car owners to turn their cars into earning engines,” said Turo Canada director Cedric Mathieu. “In just under three months, Turo has grown to be present in over 90 Canadian cities and has already facilitated thousands of rental days across the country. This is an important milestone in our journey to put Canada’s 23 million cars to better use and a strong signal that the insurance world is adapting to new consumer behaviours.”
“It’s exciting to be at the forefront of the expansion of the sharing economy,” remarked La Capitale vice-president François Dumas. “We’re thrilled to evolve our policies to allow our customers to join the Turo community. As an innovative insurance company, we recognize the value of the sharing economy and are adapting to include peer-to-peer business models like Turo.”
Intact Financial Corporation’s Intact Insurance and belairdirect had previously changed their guidelines as well to help their customers using Turo’s services. It was Intact insurance that provided Turo with $2 million in auto liability insurance.
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