Hired Non Owned Auto Insurance Definition
What is Hired Non-Owned Auto Insurance?
Hired non-owned auto insurance is a type of liability insurance that covers an individual or business for losses that occur as a result of accidents involving vehicles that are not owned by the insured. It is often used to cover rental cars, leased vehicles, or those owned by employees. The coverage may include property damage and bodily injury liability. It may also provide coverage for medical payments and uninsured or underinsured motorist claims. Hired non-owned auto insurance is often a required part of a business’s insurance policy.
What Does Hired Non-Owned Auto Insurance Cover?
Hired non-owned auto insurance covers a business for any liability that may arise from an accident involving a vehicle that is not owned by the business. This includes cars that are rented, leased, or owned by employees of the business. Hired non-owned auto insurance may also provide coverage for medical payments and uninsured or underinsured motorist claims. The coverage may include property damage and bodily injury liability.
When Is Hired Non-Owned Auto Insurance Needed?
Hired non-owned auto insurance is often a required part of a business’s insurance policy. It is important for businesses that regularly use rental cars or leased vehicles, or if employees routinely use their own vehicles for business purposes. This type of insurance is also beneficial for businesses that provide delivery services, such as restaurants or grocery stores. Hired non-owned auto insurance can provide coverage for any accidents that occur while the vehicle is being used for business purposes.
How Much Does Hired Non-Owned Auto Insurance Cost?
The cost of hired non-owned auto insurance will vary depending on the type of coverage that is needed. The size of the business, the number of vehicles that are used, the type of vehicles, and the location of the business can all affect the cost of the insurance. Most insurance companies will provide an estimate of the cost of the coverage that is needed. It is important to shop around and compare quotes from different insurance companies in order to find the best price.
What Are the Benefits of Hired Non-Owned Auto Insurance?
The main benefit of hired non-owned auto insurance is that it provides protection for businesses in the event of an accident involving a vehicle that is not owned by the business. This type of coverage can help to protect the business from any liability that may arise from an accident involving a vehicle that is not owned by the business. It can also provide coverage for medical payments and uninsured or underinsured motorist claims. Hired non-owned auto insurance can help to protect a business from any liability that may arise from an accident involving a rental car or a vehicle that is owned by an employee.
