As the owner a limousine service, you have many different responsibilities when it comes to insurance. First, you must protect your own financial interests. Next, you must consider your employees’ best interests. Finally, you need to consider what your customers have at risk.
Commercial Auto Insurance
The first and most obvious coverage that you'll need for your limo service is commercial auto insurance coverage. This will provide protection for damages to your fleet as well as bodily injury and property damage to your customers and other individuals who could be negatively impacted by your limos or drivers.
Commercial Property Insurance
Next you'll want to consider protecting the business property you have at your office or storefront. Commercial property insurance can pay for losses of both the building and the contents within as well as certain outside structures. It's important to note that commercial property insurance does not cover flood damage so you'll need to secure that policy separately if you are at risk.
Additional Liability Coverage
There are a few different types of liability coverage a limo service should consider. General liability insurance covers any lawsuit that your business faces from its client's, including for false advertising and slander. For even higher coverage limits, you can consider a commercial umbrella insurance policy, which adds an additional limit to all of your underlying liability policies.
In order to protect yourself and your employees you'll also want workers compensation insurance to pay for the medical expenses and lost wages of employees who are injured on the job. For additional protection you can secure employment practices liability insurance, which will cover you from lawsuits and judgments awarded for certain unintentional and inappropriate employment practices.