What hired physical damage covers?
Herein, what is hired physical damage coverage?
Physical Damage: Hired Auto Coverage Great West offers this Physical Damage coverage to cover the bailee exposure an insured may have for autos they hire or borrow. A hired auto is a covered auto owned by someone other than you, hired by or rented to you as the bailee, for a special purpose on a short-term basis.
One may also ask, what does Hired Auto cover? Hired and Non-Owned Auto Insurance provides liability coverage for bodily injuries or property damage that you or your employees cause while driving for work. This protection applies to vehicles you “hire” (like a rental car) or vehicles your business doesn't own (like employees' personal vehicles).
Likewise, people ask, what is physical damage coverage and what does each type cover?
Physical Damage Coverage Protects YOUR Vehicle Each type only pays for specific causes of damage to your vehicle, and both can be purchased separately.
Does business insurance cover rental cars?
If the vehicle is rented corporately, you would have to rely on the business auto policy. It is fairly inexpensive to include coverage for hired car physical damage under a BAP. You need to be aware, however, that business auto policies typically only cover private passenger vehicles and light trucks and vans.