I drive a company car, so I don’t need my own Auto Insurance | Insurance Myths

🚘What About Non-Company Vehicles?

Driving a company car doesn’t cover you when you rent, borrow, or drive a vehicle that isn’t part of your employer’s fleet. For example:

• Borrowed Cars: If you borrow a friend’s car, their insurance might not cover you adequately.
• Rental Cars: Renting a car for personal use requires separate coverage that may not be included in your employer’s policy.

Without your own auto insurance, you’re exposed to risks that could lead to significant out-of-pocket expenses.

Why Being Listed on Another Policy Isn’t Enough

You might think being listed on someone else’s auto policy is sufficient, but it’s not designed to cover business-related use or unique scenarios tied to company cars. Business use often requires specialized coverage to ensure you’re fully protected.

✅The Solution: Have Your Own Auto Insurance or Named Non-Owner Policy

• Your Own Auto Insurance Policy: If you own a personal vehicle and carry your own auto insurance policy, it may help cover potential gaps in your company’s policy—especially when using a company car for personal errands. To be protected when driving your company car, you need to have a Use of Other Auto Endorsement to extend the personal liability coverage. 
• Named Non-Owner Policy: If you don’t own a personal vehicle, a Named Non-Owner Policy can provide bodily injury and property damage liability coverage for you and listed family members when driving vehicles you don’t own, such as a company car, a borrowed vehicle, or a rental. Keep in mind, a Named Non-Owner Policy typically does not cover physical damage (comprehensive or collision) to the vehicle you’re driving, including losses from theft or vandalism. For that, separate rental coverage or the vehicle owner’s policy may be needed.

💵Protect Yourself and Your Financial Future

Relying solely on your employer’s auto insurance can leave you exposed to risks that might jeopardize your financial stability. By having your own policy, you’re safeguarding yourself against potential liabilities and ensuring you’re fully protected, no matter the circumstances. Contact us to review your coverage and make sure you have the protection you need.