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’ll need more insurance and specific types such as employment practices liability insurance.
Alternatively, if you own a limousine company and you’re the only driver, then you wouldn’t need insurance for employees. So, you wouldn’t have to purchase as much as much insurance as larger companies. Of course, you could always adjust your plan as your business grows.
If your limousine is involved in an accident, personal injury 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 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 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 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 here at Professional Insurance Strategies who provides commercial auto insurance and can help find the best insurance for your company at an affordable price.