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Insurance covers the risks of running a party bus service
Even though you’ve hired the most qualified chaffeurs and anticipated every accident that could happen on the road, when insurance companies think about luxury limo bus services, they see dozens of rowdy, inebriated passengers standing inside a moving vehicle and just seconds away from sustaining an expensive injury. The insurance companies aren’t wrong. There are a lot of things that can happen on the road whether you prepare for them or not. A robust insurance policy can protect you against events that would otherwise sink your party bus rental service.
Collision with another vehicle – When one of your drivers is at fault during an accident with another vehicle, your business is responsible for any related car repairs. Property damage liability will cover these fees.
Hurt bystanders – Likewise, if someone outside of your bus is harmed in an accident deemed your chauffeur’s fault, you will be responsible for paying their medical bills. This is covered by bodily injury liability.
Injury to passengers – When a customer books one of your buses, they don’t usually worry about whether your insurance covers them. But after an accident, you better believe they’re concerned about your insurance policy. Medical payments insurance protects your passengers while they’re riding in your party bus.
Injury to chauffeurs – Every business past a certain size requires workers’ compensation insurance. This pays for any medical bills and missed work following an injury on the job.
How your price is calculated
As the demand for party buses has increased in recent years, so has the demand for insurance. Many new owners of luxury limo bus services are astounded at how much insurance will cost them. Others are pleasantly surprised. There are several factors that go into how much you pay for party bus insurance. These factors can inflate your premium or lower it dramatically. They include:
- Your location
- Your accident history
- Whether you travel outside the state
- Number of seats in your buses
- The driving records of your chauffeurs
- Number of miles you travel per year
How to get a cheaper quote on party bus insurance
1. Stay safe
The cheapest insurance is the insurance you never use. Insurance companies will flag you after even one claim. That’s why it’s so important to have a comprehensive safety program that your drivers take seriously. If you think your premium is high now, think about how much it’ll cost after a few accidents.
2. Hire experienced drivers
One way to stay safe is to hire drivers with a history of safe driving. Don’t skimp on background checks and accident histories when you’re hiring new chauffeurs.
3. Bundle your coverage
If you need commercial auto liability for your party bus, chances are you’ll need business insurance and general liability insurance as well. Ask your insurance agent whether he can help you get these coverages as well. Agents can typically get you discounts on your overall premium if you bundle it all through a single carrier.
4. Increase your deductible
If you are desperate for a lower price, you can always opt for higher deductibles. This, however, is a risky choice. Should you ever find yourself in an accident, you will be responsible for paying a higher out-of-pocket cost, erasing any savings you might have made.
5. Shop around!
Don’t automatically go with the first policy an insurance agent offers you. Compare prices from several agents at once. We’ve made this part easy. Just fill out our Request 3 Quotes form and we’ll connect you with three party bus insurance agents right away.
