"Symbol 2: Owned Autos Only"

Symbol 2 applies to owned autos only. That is, symbol 2 provides no coverage for hired, borrowed, or nonowned autos. However, like symbol 1, it provides automatic coverage for any auto of which the named insured acquires ownership during the policy period. In addition, if symbol 2 is used for liability coverage, it extends the liability coverage to cover trailers or semitrailers that the named insured does not own while attached to power units that the named insured does own.

Symbol 2 can be used for any of the coverages that are available under the business auto policy, depending on the circumstances. For example, it might be used for purposes of liability coverage when the insured does not wish to purchase nonowned autos coverage, which would be automatically included under symbol 1. More commonly, symbol 2 is used for providing automatic physical damage insurance on a fleet of owned autos.