WHAT IS HIRED & NON-OWNED AUTO INSURANCE?
Hired and non-owned auto insurance is a type of insurance that provides coverage for vehicles that are used for business purposes but are not owned by the business.
Hired auto insurance provides coverage for vehicles that a business rents or leases from a third party, such as a rental car company, for business purposes. This type of insurance can provide coverage for liability, collision, and comprehensive damages that may occur while the vehicle is being used for business purposes.
Non-owned auto insurance provides coverage for vehicles that are not owned by the business but are used for business purposes, such as an employee's personal vehicle. This type of insurance can provide coverage for liability, collision, and comprehensive damages that may occur while the vehicle is being used for business purposes.
Both hired and non-owned auto insurance can be important for businesses that use vehicles for business purposes, as they can provide additional protection and help cover any damages or liability that may occur. It's important to consult with an insurance professional to determine if this type of coverage is necessary for your business.
WHAT IS COVERED BY HIRED & NON-OWNED AUTO INSURANCE?
Hired and non-owned auto insurance is a type of insurance that provides liability coverage for accidents that occur when a business uses a vehicle that it does not own.
Hired auto coverage provides liability protection when a company rents or leases a vehicle for business purposes, such as renting a truck to move equipment or renting a car for a business trip.
Non-owned auto coverage provides liability protection when an employee uses their personal vehicle for business purposes, such as making deliveries or driving to a business meeting.
These types of coverage typically only provide liability protection for damages or injuries that the business is legally responsible for and do not typically cover damage to the hired or non-owned vehicle itself. The coverage limits and specific terms of the policy may vary depending on the insurance provider and the business’s needs.
WHO NEEDS HIRED & NON-OWNED AUTO INSURANCE?
Hired and non-owned auto insurance is typically needed by businesses that use vehicles they don’t own for work-related purposes. This can include:
- Companies that rent or lease vehicles for business purposes.
- Companies that have employees who use their personal vehicles for work-related purposes, such as making deliveries or running errands.
- Companies that have employees who use rental vehicles while on business trips.
If a business uses vehicles that it does not own, it may be held liable for damages or injuries caused by those vehicles. Hired and non-owned auto insurance can help protect the business in these situations by providing liability coverage for accidents or incidents involving these vehicles.
It’s important for businesses to carefully assess their insurance needs and work with an experienced insurance agent to determine if hired and non-owned auto insurance is necessary and to ensure that the business has the appropriate amount of coverage for its specific operations.
