Make Sure You Own It Before You Insure It

Small business owners often use their “company” vehicles for personal travel. They also tend to be lax about the titling of these vehicles and they end up in personal names. Beware! In the Virginia case of Selective Way v. Apple, the Fourth Circuit held yesterday that a vehicle insured under a company policy was not insured under the commercial general liability policy where it was listed. The reason given was that it was not owned by the company! As a result, the insurer did not have to provide indemnity in a personal injury lawsuit.

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