Staffing agencies have many unique insurance needs resulting from the type of services that they offer. One important piece of any staffing insurance package is Owned Auto Liability Insurance. If the staffing agency maintains a single vehicle or an entire fleet which used by workers, these vehicles must be covered with a Commercial Auto Insurance policy.
What is Covered?
Owned Auto Liability Insurance covers much the same thing as other auto policies. Commercial Auto policies protect against losses resulting from:
- Loss of or damage to any business vehicles
- Death or injury of drivers
- Damage to the vehicles and property of others caused by the insured or its drivers.
Are Individual Vehicles Insured, or Is a Fleet Policy More Appropriate?
If the staffing agency owns five or more vehicles, it may be cost effective to have a fleet insurance policy, rather than insuring individual vehicles separately. Fleet insurance offers the same coverage as individual policies with the added flexibility of covering all licensed workers who use the vehicles in the fleet.
What Else Is Covered?
Owned Auto Liability Insurance also includes:
- Uninsured and underinsured motorist coverage
- Collision coverage
- Comprehensive coverage.
If staffing agencies own vehicles, these clearly require appropriate coverage. Staffing insurance packages should include an appropriate Owned Auto Liability coverage.