Understanding Extended Non-Owned Auto Coverage

Extended non-owned auto coverage is a type of insurance that provides coverage for vehicles that are not owned by the policyholder. It is a type of supplemental insurance that can help protect the policyholder from financial losses in the event of an accident. The coverage is typically used by businesses and organizations that have employees who drive their own vehicles for business purposes and are not covered under the company's auto insurance policy. It can also be used by individuals who have multiple vehicles and need additional coverage.

Who Needs Extended Non-Owned Auto Coverage?

Most business organizations and individuals who use vehicles for business purposes are at risk for liability for any accidents that occur while their employees are driving. Extended non-owned auto coverage can help protect a company or individual from financial losses resulting from an accident. This type of coverage is also beneficial for individuals who own multiple vehicles. For example, if you have two cars and one is under the main driver's policy, the other can be covered by extended non-owned auto coverage.

What Does Extended Non-Owned Auto Coverage Include?

Extended non-owned auto coverage typically includes bodily injury and property damage liability, as well as uninsured and underinsured motorist coverage. Bodily injury and property damage liability coverage provide protection for the policyholder in the event of an accident caused by the policyholder or their employees. Uninsured and underinsured motorist coverage provides protection for policyholders if they are involved in an accident with an uninsured or underinsured driver. Depending on the policy, extended non-owned auto coverage may also include coverage for rental car reimbursement, towing and labor costs, and medical payments.

What Are the Benefits of Extended Non-Owned Auto Coverage?

Extended non-owned auto coverage offers a number of benefits to policyholders. It provides additional protection for businesses and individuals who may not be covered under their own auto insurance policy. It also helps protect policyholders from financial losses in the event of an accident. Finally, this type of coverage can be beneficial for individuals who own multiple vehicles, as it can provide additional coverage for vehicles that are not covered under the main driver's policy.

How Much Does Extended Non-Owned Auto Coverage Cost?

The cost of extended non-owned auto coverage will vary depending on the policyholder's needs and the type of coverage they choose. The cost of the policy may also vary depending on the amount of coverage they choose and the deductible they select. It is important to compare different policies and coverage amounts to ensure that you are getting the best coverage for the best price.

In Summary

Extended non-owned auto coverage is a type of supplemental insurance that provides coverage for vehicles that are not owned by the policyholder. It is beneficial for businesses and individuals who use vehicles for business purposes, or who own multiple vehicles, as it provides additional protection for financial losses in the event of an accident. The cost of this type of coverage will vary depending on the coverage amount and deductible selected. It is important to compare different policies to ensure that you are getting the best coverage for the best price.