If our company is going to let employees drive a company vehicle home at night, what coverage should we have in place to protect our business?
Answer: While we can offer general business advice on insurance issues and you can research insurance requirements yourself, we recommend that you discuss the fact that your business vehicles will be parked at your employees’ homes at night in order to clarify the proper insurance policies, policy content, and recommended coverage limits for your operations with a qualified business insurance agent. How you approach vehicle insurance will depend on how vehicles used in the business are owned, the number of vehicles (if company-owned or leased), the extent of employee business and personal of use those vehicles, and other factors. For example, if employees use their personally owned or leased vehicles in your business or frequently use rental cars, it would be customary to have a hired/non-owned policy for your employees’ personal vehicles beyond personal insurance policies. Also, your business insurance agent can advise you on the type of information (i.e. proof of insurance, driving records, etc) that you will need to collect from employees or from other sources (DMV, etc) to minimize your liability.
- Business Vehicle Insurance: iii.org
- Before You Purchase Commercial Auto Business Insurance: about.com
- Rental Car Insurance Considerations for Your Company: cfr-ins.com
- Lets Take Your Car: entrepreneur.com
- Drive Your Auto Insurance in the Right Direction: carsdir.com
General small business insurance considerations:
Employee driving records: