An evening on the town being chauffeured in a limousine is a magical experience many dream of.
Memories are made. Moments are captured. Life-long commitments are sealed.
In the backseat of a limousine, celebrations erupt that will serve as joyful mile markers for many.
If you’re in the limousine business, you are making more than money. You’re making memories that will last a lifetime.
While this offers a wonderful opportunity, it also carries a level of stress, pressure, and responsibility that few people can understand.
All businesses have similar features and insurance needs. But those who offer limousine services have particular needs that other small businesses don’t.
We want to help you obtain the insurance you need for your limousine business to thrive.
Build a Solid Reputation with Quality Limousine Insurance
Your reputation is one of your greatest assets as a business owner. Twenty years ago, word-of-mouth was how a reputation was built. People talking to people in person.
That’s still critical.
But in the 21st century, online reviews carry the weight of your reputation. The current research shows that 95% of people read a review online before purchasing a product.
A business needs 20 – 50 reviews to appear relevant to online users. When a company has fewer reviews than this, it can seem as though only its friends posted on their behalf.
Why does this matter for limousine insurance?
Because in your line of work, your clients’ emotions tend to run higher. This may cause them to leave reviews with greater fervency than other business owners encounter.
A broken-down limousine that cannot transport a wedding party from its ceremony to its reception will most likely elicit negative reviews.
Limousine businesses step into once-in-a-lifetime moments. To deliver what your clients expect and deserve, you need insurance that can cover the cost of inevitable repairs.
Accidents Happen, Limousine Insurance Can Help
All the considerations of auto insurance apply to limousine insurance. And more, of course.
Our providers at The Hartford list the following seven:
1. Bodily Injury Liability
Bodily injury liability coverage can help protect you against financial loss if you hurt someone in an accident. For example, if you accidentally run a red light and injure someone, this coverage can help pay for their medical treatment. Most states require you to have bodily injury liability coverage.
2. Property Damage Liability
Property damage liability coverage pays for damage that your car causes to property you don’t own. This includes fences, mailboxes and other cars. For example, if you take out a neighbor’s mailbox while driving in a heavy rain storm, this liability insurance can help pay for the damages. Most states require that you carry property damage liability coverage.
3. Collision Coverage
Collision insurance helps pay for damage done to your car if you hit another vehicle or object. For example, if you back into a tree, this coverage can help pay for the damages to your car. Collision insurance is not required by state laws, but your lender may require that you purchase this coverage.
4. Comprehensive Coverage
Comprehensive insurance pays to repair damage to your car from things like:
- Natural disasters
- Collision with an animal
For example, if you park your car under a tree and heavy snow takes down a branch that breaks your windshield, comprehensive coverage, often called “other than collision coverage,” can help pay the cost of repairs. Just like collision coverage, comprehensive insurance is not state-required, but if you finance or lease your car, your lender may require you to have it.
5. Uninsured/Underinsured Motorist Coverage
Uninsured/underinsured motorist coverage helps cover damages if you are hit by a driver who doesn’t have car insurance or doesn’t have enough car insurance to cover the costs of damages and injuries. This insurance is split into three coverages:
- Uninsured motorist bodily injury coverage helps pay bodily injury costs for you and your passengers if you’re hit by an uninsured driver or a hit-and-run driver.
- Uninsured motorist property damage coverage helps pay for damage to your car if it’s hit by an uninsured driver or a hit-and-run driver.
- Underinsured motorist coverage helps pay for bodily injury if you’re in an accident with a driver that doesn’t have enough insurance.
Uninsured/underinsured motorist coverage is not required in all states. It’s important to check your state to see what the minimum requirements are for uninsured/underinsured motorist coverage where you live.
6. Medical Payments Coverage
Medical payments coverage helps pay for medical expenses and rehabilitation. This optional coverage may not be available in all states. However, if you have medical payments coverage and get into a car accident in another state, your coverage applies no matter where your accident happens.
7. Personal Injury Protection (PIP)
Personal injury protection (PIP) insurance, also known as no-fault insurance, helps pay for losses related to injuries from a car accident, no matter who was at fault. In addition to medical bills, personal injury protection (PIP) can also help cover funeral costs or lost wages. Keep in mind that this is not available in all states, but is required in certain states.
Limousine businesses should consider additional coverage, including Garage Liability and more.
Limousine Insurance for Small Business Needs
Your limousine business is about more than your car, though. Every small business must consider no less than the following:
You must ensure that damages to your business’s physical assets, such as buildings, equipment, and inventory, are covered.
The bulk of your business may happen on the road. But if you own an office, garage, or other equipment, you must ensure your property is insured.
This covers the costs associated with injuries or property damage you may cause to others while operating your business.
Business Interruption Coverage:
Income may be lost, and additional expenses may be incurred if your limousine business is interrupted. This coverage will help you if you need to push pause.
Cyber Liability Coverage:
Data breaches, cyber-attacks, and other cybersecurity threats run rampant in the digital age. You need cyber liability coverage if you accept payments online, keep track of scheduling, and more.
Workers’ Compensation Coverage:
Unless you’re a solopreneur, you must ensure that your company’s most valuable asset is covered: The people. This covers the medical expenses and lost wages of employees injured on the job.
Professional liability coverage:
Mistakes happen. You can cover the inevitable errors or omissions made by your business.
Hire a Partner You Can Count on for the Best Limousine Insurance
Is your head spinning yet? We know this is a lot to consider. If you’re going to make a living driving the limousine that will provide lasting memories, then you need an insurance provider that’s been around the block.
JFA Insurance Brokerage and Associates has over 30 years of experience. We have helped businesses of every shape and size navigate painful and unexpected seasons.
Our team of friendly experts is here to help you obtain the insurance coverage your limousine business needs. Just reach out, and we’ll be happy to provide a free 30-minute consultation so you can drive your business with confidence!