Limousine Insurance Carriers
There are many factors that are used to determine the total cost of a policy that is purchased from local limousine insurance carriers. A policy can cover one limousine or a fleet of vehicles. The number often depends on the type of business or purpose for the vehicle. Insurance carriers will look at where people live and the minimum amount of coverage necessary in the state. Many of the same factors that are used to determine the premium for commercial automobile insurance are used for a policy that is needed for a limousine.
Vehicle Usage and Type
The reason for owning a limousine and the type will be an important factor to the premium charged for an insurance policy. Limousine insurance carriers will take into consideration the make and model of a vehicle. Most times a large stretch limousine will cost more to insure than a luxury sedan. The reason a limousine is purchased will also be a factor. This includes having the vehicle for personal use or having a vehicle to use as a business venture. Personal vehicles will often be cheaper to insure than limousines used for commercial purposes.
Most states have minimum mandatory coverage requirements for liability insurance. However, there is a difference in the coverage amount from state to state. One reason is the location where a limousine is being garaged. A vehicle that is garaged in a large city will often cost more to insure than a vehicle that is garaged in smaller rural towns. The main reason for this is the likelihood of theft and vandalism. The vehicle may need to have full-coverage based on state requirements.
Operators or Drivers
The age of a business that provides a limousine service and the age of a driver may be considered by a variety of limousine insurance carriers. However, a limousine driver may need to have a license with a specific endorsement to be a driver. This means there is the driving history of an operator or driver that may be a factor. Drivers also need training based on the miles that are being driven.
There are many policy types that are available from limousine insurance carriers. Policies are available with a split-limit or a combined limit. This means the property damage liability coverage and the bodily injury liability coverage may be separate limits or a combined limit. The coverage option is based on need and specific preference.
Professional Insurance Strategies, LLC
3519 E. Shea Blvd., Suite 120
Phoenix, AZ 85028