Things to know about Limousine insurance in Philadelphia
Owning a Limousine has long been considered a symbol of power and wealth. When you think about a group of executives planning for a night out on the town, what options are there other than a sleek and well furnished limousine? Apart from these very specific situations however, there are many other times when a limo may be the way to go for a business or private individual. Whether you’re a frequent renter or new owner of a limousine, it’s a good idea to think about Limousine insurance Philadelphia can count on.
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
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
- Comprehensive and collision coverage: In case of an accident, collision coverage will help cover the cost. Similarly, comprehensive coverage is needed to cover damages that are due to fire, theft, or vandalism, and all other types of damages.
- Uninsured and underinsured motorist: In case of an accident, this insurance covers the other driver who was at fault. In case if they do not have adequate coverage, the insurance will pay the cost. In most of the states, insurance is mandatory for limousines.
- Protection coverage for personal injury: Injuries resulted from accidents can be covered in personal injury protection coverage. The insurance will cover many expenses like medical costs, funeral expenses, lost wages, and rehabilitation bills. If a pedestrian is injured in the accident, the insurance will cover their expenses, irrespective of whose fault resulted from the accident.
- Employment Practices Liability: In extreme cases like sexual harassment, discrimination, and wrongful termination, the insurance will protect the limousine owner.