What kind of insurance is available to protect your business in case an employee of yours is in a work-related car accident? You can cover either all autos your business owns, all cars your business owns plus vehicles it leases or hires, or all cars used for your business, including those your company does not hire, lease, or own. There are a number of types of coverage you can buy.
Physical Damage Coverage will protect you in cases of collision, comprehensive, and specified perils. Collision coverage will protect you from losses caused by the collision of a covered vehicle with any object or if the auto overturns. Comprehensive provides protection for any cause other than collision or overturn. Specified covers many of the same things as comprehensive, but only the things named in the policy. Liability Coverage will pay for, up to the policy limits, all damages the business is legally responsible for because of bodily injury or property damage. Most insurance companies recommend coverage of $1,000,000, with a minimum of $500,000.
A Combined Single Limit creates higher single limits for property damage and bodily injury. Often, the limits for a small business are $500,000 and $1,000,000. Your Business Umbrella policy will protect your owned, non-owned, and hired vehicles, if the policy shows the auto liability policy as one of the underlying policies which it covers.
Your Auto Liability Coverage will cover company vehicles used by employees in the evenings or on weekends for personal use, if shown on the Declarations page. Your employees’ own auto insurance will cover them only if they have borrowed a company car temporarily while their vehicle is unavailable specifically as a replacement vehicle. If your employees lease, rent, borrow, or hire a car, they are not covered under your policy.
The Non-Owned Auto Liability Endorsement for your coverage will protect you if your employees drive their own cars on company business. The Drive Other Car Coverage Endorsement will protect you if your employees or executives have a company car as their only car and are in an accident using the vehicle for personal use.
Workers’ compensation will pay for an employee’s medical bills, out-of-pocket medical bills, and a portion of lost wages, if he or she is hurt while driving a company vehicle within the scope of his or her employment. It does not pay for pain and suffering. If the accident results in disability, workers’ comp will pay a settlement award.
In many cases you, as a business owner, are responsible for work-related car accidents. In addition, the law says you are responsible if you knowingly allow an unsafe driver to use one of your cars. To avoid issues that could potentially harm your business, it’s important to make sure you have the proper insurance in the first place to deal with such unfortunate events.
Remember, each case is unique, so contact HURT-511 for more information on workers’ comp statute and our personal injury lawyers help injured workers recover the benefits to which they are entitled by law. For a free consultation with an experienced workers’ compensation lawyer, call us toll-free at 800-4878-511 or complete our online form. Our firm handles accident and injury claims throughout all five boroughs of New York.
HURT-511 operates in all boroughs of New York including all Bronx neighborhoods, namely: Bedford Park, Belmont, Fordham, Highbridge, Hunts Point, Jerome Park, Kingsbridge, Morris Park, Morrisania, Mott Haven, Parkchester, Riverdale, Spuyten Duyvil, Throgs Neck, University Heights and Woodlawn.