What Is Non Owned Auto Insurance
What Is Non Owned Auto Insurance?
Non owned auto insurance is a type of insurance policy that provides coverage when an employee drives a vehicle they do not own, lease, or rent for business purposes. This type of coverage is not always required, but it is often recommended as it can help protect both the employer and employee in the event of an accident. Non owned auto insurance may be necessary if an employee is using their own vehicle for business purposes or if they are using a rental car, which may not be covered by the rental company’s insurance.
Why Is Non Owned Auto Insurance Important?
Non owned auto insurance is important for employers and employees alike, as it can help protect both parties in the event of an accident. Without this type of coverage, an employee may be held liable for any damages caused by an accident, even if the accident was not their fault. If the employer does not carry non owned auto insurance, then they may be responsible for any damages or losses suffered by the employee due to the accident. This type of coverage can also help protect the employer from potential legal action taken against them by the other driver or their insurance company.
What Does Non Owned Auto Insurance Cover?
Non owned auto insurance typically covers liability, property damage, and medical expenses. Liability coverage helps protect the employer if the employee is found to be at fault for an accident. Property damage coverage helps to cover any damage to the other driver’s vehicle, as well as any damage to the employee’s vehicle. Medical expenses coverage helps to cover the cost of any medical bills the employee may incur as a result of the accident. In some cases, non owned auto insurance may also cover lost wages.
Who Should Have Non Owned Auto Insurance?
Non owned auto insurance is recommended for employers who have employees that drive their own vehicle for business purposes, such as sales representatives and delivery drivers. Employers should also consider this type of coverage if they regularly use rental cars for business purposes, as such vehicles may not be covered by the rental company’s insurance. Furthermore, if an employee is using their own vehicle for business purposes, then it is important for the employer to ensure that the employee’s personal auto insurance policy covers business use.
How Much Does Non Owned Auto Insurance Cost?
The cost of non owned auto insurance will vary depending on the coverage limits, the type of vehicle being driven, and the driver’s experience. Generally speaking, the cost of this type of coverage will be lower than the cost of a personal auto insurance policy. Additionally, non owned auto insurance can usually be added onto an existing business insurance policy, which can help keep costs down.
Where Can I Get Non Owned Auto Insurance?
Non owned auto insurance can be purchased from most major insurance companies. It is important to shop around and compare rates to ensure you are getting the best coverage and rates available. Additionally, many insurance agents specialize in providing non owned auto insurance, so they may be able to provide more competitive rates than a traditional insurance company. When shopping for non owned auto insurance, it is important to make sure the policy includes all the coverages you need to protect your business and your employees.
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