Non-Owned and Hired Auto Coverage: Definitions and More

What is Non-Owned and Hired Auto Coverage?

Non-Owned and Hired Auto Coverage is a form of insurance coverage designed to protect employers and businesses from claims and liabilities related to the use of non-owned or hired automobiles. This type of coverage is often offered as part of a business owners' policy, which provides a variety of different coverage options, including liability, property damage, uninsured motorist, and collision coverage. While Non-Owned and Hired Auto Coverage is not mandatory, it is highly recommended for businesses that regularly use non-owned or hired vehicles, such as those that provide delivery services or operate fleets of company cars.

What Does Non-Owned and Hired Auto Coverage Include?

Non-Owned and Hired Auto Coverage typically includes liability coverage for bodily injury and property damage caused by an accident involving a non-owned or hired vehicle. This coverage also usually includes coverage for the occupants of the non-owned or hired vehicle, as well as the rental or lease costs of the vehicle if it becomes damaged or totaled. Additionally, Non-Owned and Hired Auto Coverage may also include coverage for medical expenses, legal fees, and other costs associated with the accident.

Who Does Non-Owned and Hired Auto Coverage Protect?

Non-Owned and Hired Auto Coverage is designed to protect businesses, their employees, and any other third-party individuals who may be involved in an accident involving a non-owned or hired vehicle. This type of coverage is especially beneficial for businesses that regularly use non-owned or hired vehicles, as it can provide financial protection against legal fees and other costs associated with an accident.

When Should I Consider Non-Owned and Hired Auto Coverage?

If your business regularly uses non-owned or hired vehicles, such as those used for delivery services or company cars, then Non-Owned and Hired Auto Coverage should be strongly considered. This type of coverage can provide financial protection against claims and liabilities related to the use of these vehicles, and can help to ensure that your business is adequately protected in the event of an accident.

What Are the Benefits of Non-Owned and Hired Auto Coverage?

The primary benefit of Non-Owned and Hired Auto Coverage is the financial protection it provides against claims and liabilities related to the use of non-owned or hired vehicles. This type of coverage is especially beneficial for businesses that regularly use these vehicles, as it can provide a layer of protection against the costs associated with an accident. Additionally, Non-Owned and Hired Auto Coverage can also provide coverage for rental and lease costs, as well as medical expenses and legal fees associated with an accident.

Conclusion

Non-Owned and Hired Auto Coverage is a form of insurance designed to protect businesses from claims and liabilities related to the use of non-owned or hired vehicles. This type of coverage typically includes liability coverage, as well as coverage for medical expenses and legal fees associated with an accident. Non-Owned and Hired Auto Coverage is highly recommended for businesses that regularly use these vehicles, as it can provide financial protection against the costs associated with an accident.