Hired, non-owned auto insurance is one kind of insurance that might have slipped your mind when creating your company’s policy. However, as a staffing firm, your employees may use hired vehicles more often than traditional businesses in order to meet the demands and relocation requirements of their various placements. Buying the insurance offered by car rental companies with high daily and weekly rates can add up quickly. And, allowing members of your staff to drive uninsured can end up costing much more if an accident were to occur.
What is Hired and Non-Owned Auto Insurance?
Hired and non-owned auto insurance covers you against any damages incurred when employees are driving vehicles that are not directly owned by the staffing firm. Your employees are covered not only when they are driving for work related directly to the staffing firm, but contractor are also covered while on placement with a client. In addition, they are covered when using their own vehicle or a client’s vehicle for work purposes. This extensive coverage plan lets you rest easy knowing that, come what may, your company is protected.
Hired, non-owned auto insurance is created with the unique needs of staffing agencies in mind. Contact a reputable insurance specialist to discuss your options, and make sure your firm has the comprehensive coverage it needs.
Having an auto insurance policy for your staffing firm is vital, especially if some of your employees are going to be driving around vehicles. If the vehicles to be driven are not owned by the staffing firm, you need hired non owned auto liability insurance. Liability can help provide minimum coverage and offer certain perks to a policy that make it even more appealing.
Usually within any state in the US, liability coverage is required when operating a vehicle. Liability means that the insurance policy will cover claims that are considered the fault of the insured. In other words, if someone at your staffing firm causes an accident where bodily injury or property damage occurs, the insurance policy will pay out to the limits described in the policy.
Possible Perks to a Policy
Depending on the policy that your firm goes with, you could end up with perks like no deductible and no aggregate limit. This would mean you do not have a dollar amount you must meet before your insurance starts paying, and there is no maximum dollar amount the insurer will stop paying at over the agreed course of coverage.
At the very least, liability coverage is required of drivers around the US. Your staffing firm’s coverage depends on the hired non owned auto policy that is purchased, but you could see certain perks when you go with the right insurance company. Examine your policy options closely before making your final decision.