Do you own a limousine company? You use your limos to drive teenagers to the prom, members of wedding parties to receptions and more. It is necessary to get insurance for the type of driving you do. Check out the details on the various types of limousine insurance suitable for this type of company.
Factors that affect the amount and type of insurance you purchase
The type of limousine insurance you purchase along with the amount depends on the size of your company. For instance, if you have a limousine company with several drivers and several limos, you will need more insurance and specific types such as employment practices liability insurance.
Alternatively, if you own a limousine company and you are the only driver, then you would not need insurance for employees. So, you would not have to purchase as much as much insurance as larger companies. Of course, you could always adjust your plan as your business grows.
Personal Injury Insurance
If your limousine is involved in an accident, this type of insurance covers expenses related to injuries. This coverage includes medical bills, lost salary, rehab and even the costs of a funeral. This type of insurance can also cover accidents involving pedestrians regardless of who made the mistake.
Employment Practices Liability Insurance
This type of limousine insurance protects your company if an employee makes a damaging accusation. For example, this insurance would come into play if you were accused of sexual harassment or wrongful termination.
Bodily Injury Insurance
This insurance serves your company by insuring your drivers in case one of them is at fault for an accident. This type of insurance covers fees for attorneys in the event of a lawsuit against your company. Plus, it covers medical bills and rehabilitation expenses. Not every state requires this type of insurance, but it is useful to have in the event of an accident where your driver is found to be at fault.
Property Damage Liability
This type of limousine insurance covers property damage that occurs on the job. This would be damage caused by you or one of your drivers. Coverage includes attorney and other legal fees if your company is taken to court by the person whose property was damaged.
One of the best ways to find out exactly what type of limousine insurance you need is to check with an experienced agent who provides commercial auto insurance.