CSIS Insurance Services, Inc. Blog
Many non-owner-operated businesses rely on non-owner-operated automobiles for work. You'll encounter dangers on the road, whether you're renting, leasing, or borrowing an automobile for business purposes. HNOA (hired and non-owned auto coverage) can assist you in this situation.
Types of coverage offered by HNOA
Hired and non-owned auto coverage, as a sort of small business insurance, can assist in the payment of compensation for property damage or bodily harm caused by your company to someone else in an accident.
Hired Auto Coverage
Hired coverage is when you or your workers drive a rented, leased, or borrowed automobile for work; you and your employees are covered.
Any car that you hire, rent, or borrow is referred to as a "hired auto." You'll require hired auto insurance, which covers both automobiles and trucks. Hired auto insurance can assist pay for your liability expenses if you or your employee are involved in an automobile incident while operating a hired, rented, or borrowed vehicle for business.
Hiring auto insurance is generally less expensive than a business auto policy or a business owner's (BOP) policy. If you and your staff rent automobiles even a few times a year, you should consider purchasing hired auto insurance.
Non-Owned Auto Coverage
If a car you haven't leased, hired, or rented is driven for your company and is involved in an accident, non-owned auto coverage protects you from liability.
Suppose your staff, for example, drives a personal car to work and collides with another vehicle. In that case, your non-owned auto policy may be able to assist cover the cost of the other person's vehicle if the expenses are greater than the employee's auto coverage. This insurance can also assist your company in paying for medical bills if they subsequently sue you for them.
Getting a Hired Auto Liability Coverage is necessary if your company leases or borrows vehicles for work or if your workers use their automobiles for work.
It can assist you in reimbursing you for any property damage caused by your rental vehicles while they are being utilized for your business. It also covers your company's cars if they injure another motorist in a car accident and cause physical harm to another driver.
At CSIS Insurance Services Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (888) 501-2747. Get your free quote today by CLICKING HERE. The coverage discussed in this article is not guaranteed. Please call our agents, we are happy to help you learn more about your plan and make sure you have the coverage you need.
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