What is the name of your state? CO
I am in sales and drive my personal vehicle for traveling to business appointments, airport etc... My employer is now requiring that I insure my personal vehicle for business use and name the employer as having "additional interest" for me to continue receiving reimbursement of the IRS rate for miles driven involving company business. If I do not do this they will only reimburse 50% of the IRS mileage rate. My questions are. First is this legal? What rights to my vehicle do I give my employer as naming them "additional interest"? Who is liable to pay for the additional insurance premium and loss of preferred status? What recourse do I have if I refuse?
I am in sales and drive my personal vehicle for traveling to business appointments, airport etc... My employer is now requiring that I insure my personal vehicle for business use and name the employer as having "additional interest" for me to continue receiving reimbursement of the IRS rate for miles driven involving company business. If I do not do this they will only reimburse 50% of the IRS mileage rate. My questions are. First is this legal? What rights to my vehicle do I give my employer as naming them "additional interest"? Who is liable to pay for the additional insurance premium and loss of preferred status? What recourse do I have if I refuse?