Canada’s Truck Owners Profit from Big Savings

Trucks are very popular on Canadian thoroughfares – and with good reason. A special program sponsored by the Canadian government has served to skyrocket recent sales of small pickup trucks. The ecoAUTO program was implemented by the Canadian government to encourage its citizens to purchase fuel-efficient automobiles.

Lightweight truck purchasers were eligible for rebates of up to $2,000 CAD, provided vehicle fuel economy averaged at least 8.3 litres per 1,000 kilometres. Full-size SUV owners, however, were socked with penalties of up to $4,000. Consequently, many would-be Canadian SUV shoppers have opted for pickup trucks instead.

Insuring Your Truck; Dual Desirability

Owners of pickup trucks enjoy the advantages of SUV utility while retaining the tax and insurance benefits of “personal use” auto classification. Ladies and gentlemen, small pickups look to be a permanent part of Canada‚Äôs automotive landscape for the foreseeable future.

Insurance Implications

On the whole, pickup trucks are bigger and weigh more than conventional cars.

Consequently, pickup truck accidents have a higher incidence of casualties. There is a corresponding counterpoint, however. A recent US study revealed that more than 75 percent of all accidents involving trucks were attributable to errors committed by operators of the other, smaller vehicles that were involved.

Contrary to popular belief, impaired driving due to drug or alcohol intoxication was a factor in only 1 percent of accidents involving trucks. Where pickups were concerned, fatigue was the main causative factor. In view of the above findings, it would appear that small truck owners deserve a break on auto insurance coverage. While this impression may be accurate, the reality is that there is a not many insurers who specialize in small truck insurance coverage only.

Most pickup truck owners obtain coverage through conventional insurers instead. Horizons are brightening, however, as huge numbers of Canadians turn to these versatile vehicles. Insurance is a competitive industry and providers must stay abreast of current trends to maintain an edge in the commercial market.