Let’s admit it: there are not a lot of insurance companies out there that offer compressive limousine insurance to their customers. There are many reasons for it. The number of limo operators in the USA is not a lot due to the nature of limousine business. For most insurance companies, creating custom packages forlimousine insurance is not as lucrative as other commercial auto insurance programs such as rental car insurance or delivery car insurance.
This is why most limo insurance coverage you get in the US market today is merely extensions of their commercial insurance, but nothing else. In our opinion, most clients never get hold of the best limousine insurance programs in the USA because:
- There are too many companies out there that sell limo insurance but only a handful of them have competitive plans. Most clients never get the good sorted out from the bad.
- Insurance agents keep on talking to you about complex paperwork and how difficult it is to buy insurance these days; leaving you worry about getting insured at all so you forget about your benefits.
- Agents that you deal with have no experience in selling this type of insurance.
You can save some money on your limo insurance by:
- Hiring highly experienced and qualified drivers
- Maintaining good credit score
- Enrolling your drivers into a safe driving course
- Selecting your discounts carefully
It goes without saying that there are many ways to save money on your limousine insurance premium and one of them is hiring an experienced insurance company to get your business insured. This is where you can use StreetSmart Insurance Agency’s services. We can help you to purchase the best insurance for your business. We understand that your insurance requirements are different from that of commercial auto insurance so a decision must be made carefully.
HOW IS LIMO INSURANCE DIFFERENT FROM COMMERICAL AUTO INSURANCE?
Unlike commercial automobiles that come with factory fitted accessories and MSRP – manufacturer’s suggested retail price – limousines are usually built on a stock vehicle. There are extensive modifications done on the chassis and thousands of dollars of worth accessories are added to the vehicle before it is finally rolled out of your establishment.
Secondly, most limousines also hold liquor handling licenses respective of their state because limos are associated with celebrations and alcohol is associated with celebrations! It goes without saying that alcohol also means that there are higher probability of your limos getting damaged or a customer do some reckless things that injures others or himself.
In StreetSmart Insurance Agency’s experience with limousine insurance, we came to realize that adequate liquor liability and general liability coverage must be added to your commercial auto liability coverage so that you can run your business as smoothly as you want without ever worrying about every possible mishap that can happen on the road.
Personal injury insurance – personal injury insurance is the best way to cover for any cost associated with injuries involving your limousine or any accidents. The coverage will include your medical bills, lost employee wages, any rehabilitation or funeral expenses. It would also cover for pedestrian accidents, irrespective of whose fault it was. Getting personal injury insurance is always the best precautionary method to ensure that even under circumstances where your limousine meets with an accident, you will never be held financially responsible for the entire damage. Without a policy you can never be sure about the potential dangers that lie ahead. Your driver might be a little drunk while he is driving and can crash on the streets, injuring a pedestrian. Perhaps, a drunken pedestrian might have jumped in front of your limousine and injured himself, but you would always be held responsible for the injury and will be asked to pay for any finances.
Uninsured coverage – this is one of the most important coverage to consider in your limousine insurance quotes. This policy is a backup in any event when one of your drivers is involved in an accident with their own fault and does not have an adequate insurance coverage to pay for the cost. More state made this insurance mandatory for limousine operators. If you have a business that involves the operation of limousines and employ different drivers, you have to be very careful about your fleet and operations. This insurance is always a backup for you in case of any emergency.
Employee practices coverage – every driver that drives your vehicle should be covered under the employment practice insurance. This is important because if one of your employees accuses you of any discrimination, wrongful termination or even sexual harassment -you need to stay protected. You just cannot afford to fall into such small issues and put your business on risk because you have other more important work to do. The wisest choice here is to let your insurance agency handle it while you concentrate on your business.
Body injury –it doesn’t matter whether your state requires you to have this insurance, it’s a good idea if you get it since it covers your drivers if they undergo an accident. The coverage will include all kinds of legal fees if your limousine is sued and you have to pay for the medical expenses of the person injured or rehabilitation bills.
Property damage – this is another very important insurance policy to include in your limousine insurance. If there is an accident and you have caused any property damage to a third-party, you would be held responsible for this. If you have a coverage, it would cover for any cost associated with legal fees in case if the person with the damaged property goes ahead and takes you to court.
HOW CAN STEETSMART HELP?
Unlike other insurance agency, we do not generalize all limousine insurance, but come up with customized policy coverage that works for your business. We understand that every business is unique and has its own way of operating it. This is why we take the time to understand your potential dangers and come up with a tailor-made plan that works for you under your financial emergencies.