What Is Hired and Non-owned Auto Liability?
Our business insurance clients and prospective clients often ask us, "What is hired and non-owned auto insurance?" Hired and non-owned auto liability insurance is an important coverage that can be confusing but is worth understanding. We will try to answer this common question as simply as possible below...
Commercial Auto Insurance Rates Are on the Rise
Insurance is cyclical. Rates tend to fluctuate based on the economy, catastrophic losses, availability of reinsurance, and a number of other reasons. Most business insurance lines of coverage are soft right now, meaning rates are down. However, certain types of coverage are on the rise and getting more difficult to place. Commercial auto is especially affected now due to the cost of repair and liability expenses going through the roof.