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Many times as a business
owner you are put in a position where you must call upon
an employee to run to the hardware store, pickup office
supplies or just to go pickup lunch. Just think of it in
these terms, if someone (paid or volunteer) is driving
on behalf of your company in a vehicle your company does
not own, there is a potential gap in coverage. The
driver’s insurance would be the primary insurance, but
if their limits were not high enough to cover the
damages from an accident, your company would be liable
for the balance. Normally, a business auto insurance
policy will only insure your company vehicles and will
not cover a non-owned auto vehicle. Therefore, it is
important that you find out if they are included. If
they are not, you might want to consider adding them.
Another factor to consider is that if they have not
listed their vehicle for business use, there may be no
coverage at all. |
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What is a non-owned auto liability policy? |
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Non-owned covers bodily injury and property damage
caused by a driver of a vehicle that is not owned by
your company. |
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What does it covered? |
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Non-owned auto liability covers rentals or borrowed
vehicles and vehicles owned by others, including your
employees. |
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What is not covered? |
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Non-owned auto liability will not cover damages to the
vehicle itself. This is an optional coverage. |
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The benefits of non-owned auto
liability policies. |
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If you rent vehicles, you would not have to purchase
liability insurance for the vehicle. You would only need
the collision damage waiver. |
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For more information about non-owned auto liability,
please contact a PHD Protection Team Member at (800)
640-4743 to insure you have the proper coverage you need
to protect your business. |
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Please contact PHD Insurance
Brokers, Inc. at:
(800) 640-4743 or (714) 534-6310 |
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Or
Fax (714) 543-2943
Or |
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E-mail
Info@phdinsurancebrokers.com
Or |
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Visit our website at
www.phdinsurancebrokers.com |
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© 2006, Leland J.
Hendrie. The reader assumes all responsibilities for
his/her own actions in regards to any items discussed in
this report. Adherence to all applicable laws and
regulations, federal, state and local, governing the use
of any product or service described in this report in
the US or any other jurisdiction is the sole
responsibility of the reader. The publisher and author
assume no responsibility or liability whatsoever on the
behalf of the reader of these materials. The reader is
encouraged to consult directly with his/her insurance
professional. |
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