Commercial auto insurance can cover property damage and injuries if a tech company's vehicle is involved in an accident. It also covers vehicle theft and certain types of damage.
If your technology business owns a vehicle, you need commercial auto insurance to cover liabilities such as:
All states but New Hampshire and Virginia require commercial auto insurance for vehicles registered to a business.
Most states specify the minimum amount of liability coverage required by state for bodily injury and property damage. In some instances, they also require a minimum amount of uninsured and underinsured motorist coverage.
Even if your business operates in one of the two exempt states, you're still liable for damages if your company vehicle is involved in an accident.
Many technology companies rent cars or use employee-owned vehicles to meet with clients, run business errands, or transport goods or employees.
Hired and non-owned auto insurance, or HNOA, covers business liabilities if accidents occur while using with these vehicles. HNOA typically provides coverage for legal defense costs, but it doesn't cover damages to the rented or employee-owned vehicle.