Hired And Non-Owned Auto Insurance

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Hired And Non-Owned Auto Insurance Hired and non-owned auto insurance (HNOA) is a type of insurance for small business owners who rent or lease vehicles, or ask employees to use their personal vehicles for business purposes. This includes: 1-Rented vehicles: When a company rents a car or truck for business purposes, HNOA insurance can cover any liability arising from an accident while using the rented vehicle. 2-Leased vehicles: Similarly, if a business leases a vehicle for work, HNOA insurance can offer coverage for accidents and any associated legal expenses. 3-Employee personal vehicles: In some cases, businesses might allow employees to use their personal vehicles for work-related errands or tasks. HNOA insurance kicks in if an employee is involved in an accident while driving their personal car for business purposes and their personal insurance policy is inadequate or doesn't provide coverage. If you or an employee gets into an accident while driving a leased, rented, or personal vehicle for business purposes, hired and non-owned auto insurance will make sure any resulting lawsuits won’t bankrupt your business. HNOA provides insurance protection while driving vehicles your business doesn't own for work purposes. It covers legal expenses that result if you or an employee has an accident. It also closes a gap with most commercial auto insurance policies which excludes coverage for accidents involving business use of vehicles not titled to the company. If you or one of your employees is held liable for another person's property damage or injury, your insurance will cover attorney's fees, settlements, or court-imposed judgments. However, HNOA does not cover: -The costs to repair the leased, rented, or employee-owned car, van, or truck -Accidents that happen while employees are commuting to work -Incidents that occur while employees are running personal errands during the workday By understanding the purpose and benefits of Hired and Non-Owned Auto insurance, businesses can make informed decisions to ensure they are adequately protected against the risks associated with using non-owned vehicles for business purposes. #BeNewinsurance #InsurTech #inclusiveinsurance #insurance #reinsurance #takaful

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