What does "hired autos" refer to?

"Hired autos" specifically refers to vehicles that are not owned by a business but have been leased, rented, or borrowed for business use. This terminology is important within the context of commercial auto insurance as it affects the coverage policies available to a business.

When a business uses hired autos, it generally indicates that the company has an agreement to utilize these vehicles temporarily and is often responsible for ensuring these vehicles are adequately covered under their insurance policies. This includes potential liability coverage, should an accident occur while these vehicles are in use for business purposes.

Understanding the concept of hired autos is crucial for businesses, especially when it comes to managing risk and acquiring the appropriate insurance that protects against liabilities related to these vehicles. The other options, such as employee-owned vehicles or those owned by the business, do not fall under the "hired autos" designation, which is why they do not accurately represent this term.