Limo Insurance – special rates?
Insurance companies offer special rates to many industries, including limousine services.
If you have a fleet of five or more limos, you could be eligible for a fleet discount. A good record with no claims will also get you discount auto insurance rates, as will hiring drivers with clean driving records. Your chauffeurs’ driving education could also earn you discounts if they’ve completed a defensive driving course or keep up with the industry’s continuing education programs. Safer and more educated drivers nearly always qualify you for a discount.
Your vehicles are another factor that can qualify you for a discount or prevent you from getting one. Are your limousines QVM or CMC certified? When a vehicle is “stretched” to seat more people comfortably, several things must be modified. Since the added length compromises the steering, braking and suspension there are steps that quality builders take to compensate for this. This is called a “heavy-duty” package that isn’t available to the general public. The limousine built in this way is certified as safe and insurers will often give discounts for stretched vehicles that meet these standards. If your fleet has safety features such as air bags, restraint systems or antilock brakes you’ll be more likely to receive a discounted rate of car insurance. The safer the vehicle and driver, the less you will have to pay for insurance premiums.
When looking for an insurance carrier, ask about discounts that you may qualify for. Simply owning newer vehicles can earn you a substantial discount. And by consulting your local industry’s association, you may find that being a member qualifies you for an insurance discount. More in Limousine Insurance on the Limo Tycoon Blog.