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Reasons to Buy Hired and Non Owned Liability Insurance

June 09, 2016
by Ernest Del Duke, Jr.
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Reasons to Buy Hired and Nonowned Automobile Liability Insurance

Hired and Nonowned Automobile Liability Insurance refers to an optional endorsement on a Commercial Automobile insurance policy that offers protection for your business if it is liable when employees, partners, members of your corporation, or members of your household are using an automobile or rented vehicle for business purposes. Since many instances of those using their own personal vehicle(s) for business purposes is more common than not, this endorsement (or separate stand-alone) policy is crucial to a business insurance portfolio.You don’talways have to own a business automobile to enjoy this protection, and so in some instances this type of insurance can be endorsed onto your General Liability or Businessowners policy.Buying Hired and Nonowned Automobile Liability Insurance may respond if an auto accident occurs and you are sued.

These types of insurance usually cover:

  • Liability claims against a business and/or driver
  • Cost of defense
  • Rented or borrowed “autos”

Not covered:

  • Transportation of property damaged in an “auto”
  • Physical damage to one’s own “auto”

Business owners should realize that they will sometimes find themselves in situations where they or an employee will need to use an “auto” for business purposes. A “Nonowned” situation may be a time when employees will need to use a vehicle for errands of many types. This type of insurance can be applicable when,a business askstheir employee (s) to buy lunch or pick up office supplies, or inspect, appraise, or deliver items, whether a “product” or simply paperwork to complete a deal. The “Hired” portion of this insurance could respond if one is on a business trip and needs to rent a car.

Therefore, Hired and Nonowned Automobile Liability Insurance covers property damage and bodily injury caused by the vehicle you rented, or borrowed.

Additionally, if you rent vehicles often, buying hired and non owned liability insurance can save you money because you may not have to buy the liability coverage sold by a rental car company. If possible, one should always remember to buy a collision damage waiver (CDW) from them.

About the Author
Ernest is the third generation owner of the Del Duke Insurance Group. He grew up in the insurance industry, working in this field before, during, and after his undergraduate and graduate studies. He has been involved in every aspect of the company’s operations, growing it from two employees and one insurance carrier in 1997 to where it is today. Ernest holds a Bachelor of Science in Finance from Rutgers University School of Business, a Certification from Rutgers Supervisory Management Graduate Program, and the AAI accreditation from the Insurance Institute of America. He also has served as the Chairman of The Cherry Hill Chamber of Commerce, has served on the Board of Trustees for Sustainable Cherry Hill, and has served on the Board of directors of the Independent Insurance Agents & Brokers of Southern New Jersey. He currently is a member of the Camden County Chamber of Commerce Board of Directors, a member of the Delaware Valley Business Leaders Alliance, a member of Cherry Hill Township Mayor’s Business Council, a member of the Partnership for Haddonfield, and is involved with several school and local kids athletics associations in Haddonfield, where he and his wife Vanessa, two boys Andrew & Harrison, and dog Frank live.
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1190 Marlkress Road
P.O. Box 2025
Cherry Hill, NJ 08034-0142

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tel: 856.424.7960
fax: 856.424.0234

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