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How To Be Sure Your Insurance Has You Covered

You make every effort to keep your business running smoothly, and this takes a lot of your time. It's often good management practice to let professionals handle the details of your operation, such as accounting, legal matters, and insurance. You should always take the time, however, to understand the spreadsheets and other paperwork they provide you. If you don't want to be surprised by an unexpected financial loss, make sure your business auto policy coverage codes have been explained to you.

What to Look For on Your Policy

One important coverage that is often missed is the hired non owned auto insurance. This can be added to your policy at reasonable rates and covers bodily injury and property damage that can occur as a result of an auto accident in a vehicle you do not own. Many companies overlook this coverage because they do not own or operate a commercial vehicle, but it is generally advisable that you have this type of policy, as you may be liable for costs resulting from an auto accident in a non owned vehicle. The insurance generally is a flat rate for businesses with fewer than 25 employees. If you have any questions or concerns about your hired non owned auto coverage, call your agent and ask him or her to review your policy with you. Keeping informed on potential auto-related losses should always be part of your risk management plan.