Limousine Insurance

Limousine Insurance

Most states across the nation require limousines carry mandatory liability insurance. Liability insurance protects drivers and owners of limos against the cost of damage to other people or their property. Liability insurance covers claims against the policy holder and other operator of the insured limousine.

Liability insurance usually covers bodily injury or property damage for which the covered driver is considered responsible. The minimum amount of limousine insurance coverage that is required may be different depending on the state where the limousine is garaged. Coverage can usually be increased. This will probably result in an additional charge.

Liability insurance for limousines is usually written in two forms. Either a Combined Single Limit or a Split Limit. The Combined Single Limit combines both the bodily injury coverage and the property damage coverage.This means that in the event of an accident, the insured driver will have combined protection for any bodily injury he caused as well as any property damage he may have caused also. The Split Limit separates the bodily injury coverage and the property damage coverage in the event of a loss. The split limit would protect for a certain limit maximum for the bodily injury and another certain limit maximum for the property damage that was caused.

Another very important part of limousine insurance coverage is the Uninsured and Underinsured coverage section of the policy. This provides protection if the responsible person does not have liability insurance or does not have enough liability insurance coverage. If another party were at fault but did not carry liability insurance, the insured limousine would then be covered by the Uninsured portion of their policy. Most states require Uninsured Motorist and Underinsured Motorist coverage for limousines.

Due to the value of most limousines, most owners will usually choose to purchase a Full Coverage limousine insurance policy. Full Coverage is the name commonly referred to as Collision and Comprehensive coverage.

Collision coverage for a limousine extends protection to the insured limousine for damages to it caused by a collision with another vehicle or most objects. (hitting an animal such as a deer usually falls under the comprehensive portion of the policy ).

Comprehensive coverage for a limousine extends protection to the insured limousine for damages not considered a collision. An example would be if the limousine were damaged by vandalism or by a heavy hail storm. Both collision and comprehensive coverage for a limousine usually have a deductible. A deductible is the initial amount of money the insured is responsible. ( For example: a $500.00 deductible ) After the insured pays this portion of his damage, the balance is then covered and paid for by the insurance company.

There are many other insurance coverage's and options available to limousine owners. Please fill out our Limousine Quote Form for more information and a no obligation quote.