Which characteristic is true for the coverage symbol associated with hired autos?

The characteristic that is true for the coverage symbol associated with hired autos pertains specifically to vehicles rented or leased for business purposes. This coverage extends to vehicles that an insured organization hires or rents, thereby providing essential protection during the operation of these vehicles in a business context.

When a business rents a vehicle, it is important for the insurance policy to cover liabilities arising from its use. This coverage typically includes liability for bodily injury and property damage that could occur while the hired vehicle is being operated for company activities. Thus, having dedicated coverage for hired autos ensures that businesses are protected against potential claims arising from their use.

The other options do not accurately describe the coverage for hired autos. For instance, while personal vehicles are often excluded from commercial auto policies, hired auto coverage is specifically designed for vehicles that the business does not own, hence option that includes personal owned vehicles is not applicable. Reporting requirements can vary, but hired auto coverage generally does have some level of reporting, and vehicle repair costs alone do not encapsulate the broader liability coverages associated with hired vehicles.