More and more companies are relying on temporary and contract labor to fill key roles, especially for projects with a definite term. That’s why it’s getting more and more common to see businesses grapple with the fact that many auto policies for company-owned vehicles exclude temporary workers from the coverage. It’s certainly not universal, and it was mainly instituted as a cost-saving measure in an age when businesses tended to use temp workers in a more limited capacity. As a result, more and more insurers who focus on auto coverage for businesses are tailoring their owned auto policy options to companies who will rely on temporary staff to drive in a variety of roles.
Owned Vehicles vs. Borrowed or Rented Cars
It’s important to remember that coverage for vehicles your business owns and maintains among its assets is very different from the coverage you need when you rent a vehicle. If your business occasionally has to rent additional vehicles or larger ones to get the work done or you borrow cars from employees and partners on occasion, you also need insurance that addresses those issues. If you work with the right insurer, you could potentially bundle that into one package with your own vehicle coverage to consolidate your policies and streamline your annual insurance review.