Company cars. Employee drivers. MVRs. Hired and Non-Owned Auto Liability.
Commercial auto insurance is an important coverage for design firms, and it’s also a deceptively simple one. In a short article, a/e ProNet member Walker & Associates Insurance urges design professions to be “aware of the top commercial auto insurance myths. What you don’t know can cost you.” For example:
MYTH: Your insurance covers all employees driving company vehicles.
Many commercial auto insurance policies cover only employees who are specifically named on the policy. When in doubt, check it out before handing the keys to an employee. According to a recent study from the Insurance Research Council, after a period of decline, commercial vehicle personal injury protection claims are on the rise. Should your company vehicle become involved in an accident resulting in injury, expect to pay more to settle that claim if it’s not covered by insurance. — Read the rest of the Walker & Associates Insurance post here
You can find an overview of commercial auto insurance, along with other Typical Coverages for Design Professionals, on our website. If you have additional insurance-related questions, don’t hesitate to call your local a/e ProNet broker.