Next Insurance Expands Product Offerings with Tools and Equipment and Upgraded Commercial Auto Coverage for Rented and Non-Owned Vehicles

Product expansion delivers on Next Insurance's promise to provide tailored policies to its customers under one roof

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Aug 03, 2020, 09:00 ET

PALO ALTO, Calif., Aug. 3, 2020 /PRNewswire/ -- Next Insurance, the leading digital insurtech company transforming small business insurance, today announced the availability of Tools and Equipment and Hired and Non-Owned Auto (HNOA). These product offerings are the latest developments in the company's path to becoming the one-stop-shop for insurance coverage for today's self-employed and small business owners.

Tailored specifically for contractors and cleaning businesses, Next Insurance's Tools and Equipment coverage provides policyholders protection from theft and damage on all regularly transported, owned and borrowed equipment and tools, including employee tools and clothing. Tools and Equipment is an add-on to the company's General Liability policies and will initially be available in 48 states across the U.S., including California, Florida, Texas, in addition to Washington, D.C.

HNOA is a commercial auto upgrade that provides liability coverage for property damage and bodily injuries caused while operating rented vehicles or when an employee's personal vehicle is used for business purposes. In the case of a lawsuit, HNOA will cover defense costs and any judgements up to the policy limit. This coverage will be an add-on to Commercial Auto policies and will be available later this month. HNOA enhances Next Insurance's existing Commercial Auto policies by protecting a wider group of business owners who depend on vehicles for essential business functions, such as construction. HNOA will be available in 39 states across the U.S. for all classes of business with the exception of restaurant, delivery, education and daycare.

"Next Insurance aims to simplify insurance for small businesses by bringing all their needs under one roof. Launching Tools and Equipment and bolstering commercial auto coverage for vehicles that businesses don't own, is yet another step towards becoming the one-stop-shop for all small businesses," said Guy Goldstein, co-founder and CEO of Next Insurance. "Part of delivering phenomenal service to our customers is listening to their needs and taking the steps necessary to better serve them. We are committed to building our portfolio of products to provide the simple, affordable, and tailored coverage that small businesses want and deserve."

Next Insurance is upending the traditional industry by providing accessible online insurance at any time and all under one roof. Over 1,000 types of small businesses can get a quote and covered in 10 minutes or less.

For more details visit Next Insurance's Tools and Equipment page.

About Next Insurance
Next Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Next Insurance offers policies that are easy to buy in 10 minutes or less and provides 24/7 access to services such as Live Certificates of Insurance, Additional Insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, Next Insurance utilizes AI and machine learning to simplify the purchasing process and drive down costs by up to 30% compared to traditional policies. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $381 million in venture capital funding and has been recognized by Forbes Fintech 50 and Forbes Best StartUp Employers. For more information visit NextInsurance.com. Stay up to date on the latest with Next Insurance on Twitter, LinkedIn, Facebook and our blog.