Hired and Non-Owned Coverage

Understanding your company’s insurance coverage options is vital, especially when it involves vehicles your business uses but does not own. Hired and non-owned auto insurance (HNOA) may help provide financial protection for Oregon businesses using vehicles they do not own, including employees’ vehicles and rented cars or trucks.

The Action Insurance Company team can tailor your company’s commercial auto and HNOA coverage to meet your needs and help you shop for favorable rates.

Understanding Hired and Non-Owned Auto Insurance

This insurance is critical because personal auto policies often exclude business use, leaving a coverage gap that HNOA can address. Hired auto coverage may help protect your business when employees rent vehicles for business-related activities. Non-owned auto coverage is relevant when employees use their personal vehicles to conduct company business.

Why HNOA is Essential

Businesses that don’t own their vehicles but still require their use for operational purposes need to consider HNOA insurance to help protect the business against liability claims if an accident occurs while the vehicle is used for business activities. It is essential to risk management, ensuring unexpected incidents don’t lead to significant financial burdens.

Commercial Auto Insurance Requirements in Oregon

Oregon businesses using vehicles they own or lease for commercial purposes must have commercial auto insurance. This requirement ensures that businesses have adequate coverage for liabilities arising from accidents, injuries or damages involving business vehicles.

While HNOA doesn’t replace commercial auto insurance, it complements it by providing coverage in scenarios where the primary commercial policy may not offer protection.

The Importance of HNOA for Your Business

Businesses should evaluate their need for HNOA insurance based on their specific operations and vehicle usage patterns. If your employees use personal vehicles for deliveries, sales calls or other business tasks, or if your business rents vehicles, it’s wise to consider the protection HNOA offers.

Your agent can help determine whether HNOA insurance is appropriate for your organization.

Contact Us

To determine the right coverage for your Lake Oswego business, contact the professionals at Action Insurance Company. Our team can help you understand how hired and non-owned auto insurance fits your overall risk management strategy.

Contact us today to start comparing commercial auto and HNOA insurance quotes.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.