Many businesses require the usage of cars and other vehicles for transportation. Whether goods need to be put in transit or employees need to go from one place to another, the need for driving comes along with the risk of accidents. Being involved in an accident can include a variety of costs.
Vehicle damage for the employee and anyone else involved
Property damage to the surrounding area
Replacement or repair costs for items in transit or belonging to others
Medical costs for bodily injury
Payments to cover for possible death
Legal fees if involved in a claim
These costs can really add up depending on the severity of the accident, which is why having automobile insurance is important. However, it’s important to keep in mind the types of vehicle your business will be driving.
When You Don’t Own the Vehicles
Some businesses do not have their own company cars but instead, rent vehicles or allow the employees to use their personal cars for work business. In this case, hired non owned auto insurance is necessary to include coverage on these types of vehicles. Most general auto policies only cover cars that are owned specifically by the business in question, so check to make sure you’re getting the right kind of coverage.
In order to protect your business from financial loss, be sure to find an insurance program for hired non owned auto. This way, even rented or personal cars can be covered if involved in an accident during work hours.