While company vehicles can be highly convenient, they may not always be economically feasible for every business. In this case, a business may depend on rental cars, or even allow employees to use their personal vehicles to perform work functions.
For these businesses, a hired non owned auto policy can be extremely beneficial should an accident occur while a vehicle is being used for work purposes. Even if the vehicle in question is covered, the company may still be held liable should the damages incurred go beyond what is specified in the existing coverage. This can greatly harm a business, and may even result in a shut-down of operations in extreme cases.
Suitable Coverage Is Essential
Instituting a reasonable hired non owned auto policy can be an important step for a business to make certain that insurance coverage remains complete. In many cases, a single accident can have grave financial effects for a business. Auto repairs can be extremely costly even in minor accidents, especially if multiple vehicles are involved. Additionally, medical fees can be staggering, particularly for smaller businesses with limited financial resources.
Insurance Solutions for Every Business
The right insurance policy can save your business from financial devastation in the event of an accident. For those businesses that frequently use third-party vehicles, a hired non owned auto policy must be included in one’s insurance coverage. These policies can greatly decrease the financial impact of an auto accident, thereby ensuring continued success.