Are you properly insured when traveling in a company car?
Do you travel in groups for work in a company car? You should ask your employer about their automobile insurance coverage and if you will be covered while traveling in the company car before anything happens. If you are in an accident in a company vehicle, your personal auto insurance may not cover you.
If you work in Ohio and travel to Michigan for work more than 30 days in the calendar year, you should also check to see if your employer has a rider/endorsement policy on the company vehicle you travel in. This will help protect and cover you under Michigan’s no fault insurance laws.
When you travel in groups (3-5) in a large company car you will want to make sure the vehicle has a commercial vehicle policy that will be enough to substantially cover all the employees riding in the car in case of an accident. You will also want to see if your company vehicles come with a liability insurance policy, so if the other party tries to sue your company for additional damages, you’re covered.
Employers: What types of Insurance do I need to properly cover my employees riding in a company car?
In order to properly insure your employees while traveling in a company car, you will need a substantial policy in order to cover the maximum number of parties the vehicle can hold (usually 5-7). You should look into a commercial auto insurance policy. These policies usually include physical damage insurance, liability insurance, and other coverage including medical payments, towing & labor, rental reimbursement and auto loan or lease gap coverage.
The types of additional coverage you should look for in a commercial auto policy are collision insurance, comprehensive insurance, uninsured motorist coverage, underinsured motorist coverage. Talk with an insurance agent to see what types of coverage will fit your business best based on the traveling you and your employees do.
Liability Insurance: Why it is so important
Business auto liability insurance is an important safeguard for your business. If you or an employee is sued following a serious accident, liability insurance helps protect your company’s assets.
If you are wondering if the minimum commercial auto liability coverage is enough, the answer is probably not. Most companies opt for more than state-minimum coverage. The reason? If an injured party sues your company for a larger amount than you are covered for, you are liable to pay the amount you are not covered for. This could potentially put your business at risk financially.
If you have been involved in a car accident involving a company vehicle, contacting a personal injury attorney as soon as possible will make the claims process much easier. Attorney Charles V. Contrada will explain your legal options, guide you through the process.
To speak to attorney Charles V. Contrada about a car accident in Ohio or Michigan, call 419.841.4400. Charles has helped thousands of individuals with car accident claims and will explain the legal options that are available to you. Call Contrada & Associates for comprehensive legal guidance that will help you to receive the most favorable outcome.