Why Businesses Need Hired and Non-Owned Auto Insurance
When your employees use personal or rented vehicles for business purposes, your business could be held liable for accidents or damages. Standard commercial auto policies don’t cover vehicles your business doesn’t own, leaving you exposed to significant financial risks.
Hired and Non-Owned Auto Insurance bridges this gap by providing liability coverage for vehicles that are rented, leased, or owned by employees but used for business operations. It ensures your business is protected against claims involving bodily injury or property damage caused by such vehicles.
What Is Hired Auto Coverage?
Hired Auto Coverage applies to vehicles your business rents, leases, or borrows for operations. This insurance protects your business from liability claims that arise during the use of these vehicles.
For example, if an employee rents a car to attend a business meeting and causes an accident, Hired Auto Coverage helps cover the resulting liability claims, including legal fees and settlement costs.
What Is Non-Owned Auto Coverage?
Non-Owned Auto Coverage applies to vehicles owned by employees or other individuals but used for business purposes. This coverage is critical when employees use their personal vehicles to make deliveries, attend client meetings, or run errands for your business.
In such cases, if the employee is involved in an accident, this policy protects your business from liability, even if the employee’s personal auto insurance is insufficient or non-existent.
GET A QUOTEHow Does Hired and Non-Owned Auto Insurance Protect Your Business?
Liability Coverage for Accidents
Provides financial protection if a rented or employee-owned vehicle causes bodily injury or property damage during business use.
Mitigating Gaps in Coverage
Covers liabilities that may not be addressed by an employee’s personal auto policy or a rental agreement.
Reducing Business Risks
Helps shield your business from lawsuits and financial losses resulting from accidents involving vehicles not owned by your company.
Compliance with Contractual Requirements
Many business contracts or client agreements mandate liability coverage for non-owned or hired vehicles. This policy ensures you meet those requirements.
Coverage Options for Hired and Non-Owned Auto Insurance
Bodily Injury Liability
Covers medical expenses, legal fees, and settlements for injuries caused to third parties in an accident.
Property Damage Liability
Pays for repairs or replacement of damaged third-party property, such as vehicles, fences, or structures.
Excess Liability Add-On
Increases your liability limits to provide additional protection in the event of large claims.
Defense Costs Coverage
Covers legal expenses incurred in defending your business against lawsuits stemming from accidents.
Why Choose GrayStone Insurance Group?
- Comprehensive Solutions: We tailor Hired and Non-Owned Auto Insurance policies to fit your specific operational needs.
- Expert Risk Assessment: Our experienced team evaluates your exposure and ensures you’re adequately covered.
- Affordable Plans: We offer cost-effective coverage options that don’t compromise on protection.
- Responsive Claims Support: In the event of an accident, our dedicated claims team ensures quick and hassle-free resolutions.
- Industry Experience: With extensive knowledge across various sectors, we provide customized solutions for businesses of all sizes.
Secure Your Business with GrayStone Insurance Group
Don’t let vehicle-related liabilities disrupt your operations or compromise your financial stability. Hired and Non-Owned Auto Insurance provides the protection your business needs to stay secure and compliant.
Contact us today to learn more about our tailored Hired and Non-Owned Auto Insurance policies.
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