A common situation many of us find ourselves in today is the personal use of a company vehicle. When you are furnished a company vehicle, you are generally provided coverage to use that vehicle through your employer’s auto insurance policy. But your employer’s policy usually does not cover you if you then borrow or rent a vehicle to be used personally.
If you also own a personal automobile, and have that auto covered by a personal automobile policy, you probably already have this coverage. But, if you do not own a personal vehicle, you definitely have a gap in coverage. Some employers will endorse their business auto policy to provide you with this coverage; however, it may be at your expense. The coverage is badly needed if you either rent autos, or borrow automobiles.
A second very important exposure you face is injury to a co-worker. The majority of business auto policies exclude coverage for you if you injure a co-worker riding with you in your company vehicle. In most cases, the worker would be covered by workers’ compensation, but some states allow an injured employee to sue the negligent party in addition to filing a claim.
In some cases, you can add extended non-owned auto coverage to your personal auto policy. Also available, in some instances, is coverage that can be picked up through the personal umbrella policy. The trend in umbrella coverage is away from extending this coverage, but some will fill the gap for liability from injuries and property damage you cause while operating a non-owned vehicle.
Reichley Insurance Agency is committed to excellence. We pride ourselves on offering our clients reliable coverage and great service. As an independent Ohio insurance agency, we can provide you with all types of insurance coverage from the top carriers in the country. Our team of trusted agents will work with you to find a policy that meets your needs – and falls within your budget.
Our dedication makes the difference...
Toll Free: 87-REICHLEY (877-342-4539)
Email: info@reichleyins.com
The information in this article is meant as a guideline only. There is nothing in this publication that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgments or decisions concerning your particular situation and coverage that may or may not apply.
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