There Is no great mystery why you need auto insurance if you own your vehicle, whether a personal or company car. However, not many business owners give sufficient thought to hired non-owned auto insurance and what it can mean for their business. You may have an entire fleet of cars covered with a comprehensive insurance policy, send an employee out to bring back lunch in a hired car when there are no other available cars, only to find that an accident happens. This is also a concern if your employees travel for business frequently and need to rent cars.
Policies for hired non-owned auto insurance vary from those that cover cars your company owns. You may not be able to cover damage to the car itself, but you can be insured in case of bodily harm of an employee and damage to property or merchandise within the car. This can be particularly important if you use a hired car for deliveries of valuable items.
Speak to an insurance agent about hired non-owned auto insurance for your business. The kind of insurance you get depends on how many hired vehicle you use and their purpose. Even if hired cars are used only for business trips, don’t neglect this type of insurance coverage, because you can’t control what does not happen on the premises.