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Limousine businesses have a promising earning potential. However they have their own portion of risks. That is why it’s essential to have an insurance policy in place. Limousine insurance is the tailored for-hire transportation insurance program you’ll find comprehensive.
Read this guide to know how each policy works, premiums cost, where to get the best coverage, very helpful when starting a limousine business.
A commercial auto policy first crosses your mind when thinking of which taxi and limousine insurance to get. There’s nothing wrong with this! In fact, what will be unusual is when you have a limousine service business but not think of this insurance at all.
Commercial auto insurance has a lot of functions.
General liability insurance doesn’t only cover accidents that happen while your limousine is running. This insurance also grants protection against third-party bodily injuries or property damage that happen in the premises of your limousine business’s garage, terminal, office, and other commercial properties.
Just like the general liability insurance for taxi businesses, the general liability insurance for limousine companies comes with automatic or optional add-ons such as:
General liability insurance will protect you against bodily injury and property damage claims filed by pedestrians, clients, independent contractors, and other third parties. This insurance provides money you can use to pay the:
| CoverWallet | NEXT (Best) | GEICO | Hiscox | Progressive | |
| Per occurrence limit | $1,000,000 | $1,000,000 | $300,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $300,000/$2,000,000 | $2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $1,000,000 | $100,000 | $100,000 | $100,000 | $100,000 |
| Waiver of subrogation included? | Yes | No | Excluded | Can be included | Excluded |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Excluded |
| Equipment breakdown floater included? | No | Yes | Excluded | Can be included | Excluded |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | |
| Name additional insureds? | Yes | Yes | Yes | Yes | |
| Deductible | $0 | $0 | $0 | $0 |
You and any other drivers of your limousine service business can opt to get professional liability insurance.
In real life-scenarios, this insurance is useful if a client files a claim and accuses you of overinflating your service charge, accepting payments without providing a service, or bailing out of a contract.
Professional liability insurance for limo service takes care of settlements, defense costs, and court judgments when a covered peril happens.
| CoverWallet | NEXT | Hiscox | Progressive | GEICO | |
| Per occurrence limit | $1,000,000 | $20,000/$25,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $50,000 | $1,000,000 | $2,000,000 | $1,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Can be included | No | No |
| Deductible | $500 | $500 | $50/$10,000 | $500 | $500 |
You can save money on premiums by buying a business owner’s policy. A business owner’s policy is an insurance product that combines general liability and commercial property insurance.
That said, by buying a business owner’s policy, you get insurance for legal liability and commercial property damage.
| CoverWallet | NEXT (Best) | Hiscox | GEICO | Progressive | |
| General liability aggregate limit | $2,000,000 | $1,000,000 | $300,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000 |
| Commercial property coverage limit | $50,000 | $25,000 | $25,000 | $25,000 | $50,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
Get all the best quotes from leading providers in a click of a button!
A limousine service business can’t run on its own. Other than drivers, you need clerks and other office staff to schedule requests, bill clients, and manage finances. Mechanics are also a must as your limousine units need repair from time to time.
You need to get workers’ compensation insurance as soon as your business has its first hire.
Workers’ compensation insurance will cover the unexpected expenses on your business’s behalf if an employee sustains a work-related injury or disease. This insurance usually covers the following:
The average limo insurance cost is $80 a month or $960 a year for a $1 million general liability coverage. The cost of limo insurance varies depending on several factors, including the size and value of your limousine, your location, driver history, and your coverage needs.
| Cost per Month | Cost per Year | Deductible | |
| General liability insurance | $80 | $960 | $0-$500 |
| Professional liability insurance | $90 | $1,080 | $500-$1,000 |
| Commercial property insurance | $85 | $1,020 | $1,000-$2,500 |
| Business owner’s policy | $165 | $1,980 | $500-$1,000 |
| Commercial auto insurance | $92 | $1,104 | $1,000-$1,500 |
| Workers compensation insurance | $100 | $1,200 | $2,000-$5,000 |
| GAP insurance | $95 | $1,140 | $1,000-$2,000 |
NEXT doesn’t have a limo insurance package. However, it can grant coverage through its passenger car rental insurance program. Policies offered are general liability, workers comp, professional liability, and more. NEXT sells this coverage with its partner, Tivly. That said, you might be referred to Tivly for a quote.
Average cost: $60 per month
CoverWallet provides a simple and easy-to-use online platform for searching affordable insurance from multiple partner providers. Furthermore, CoverWallet has a live chat platform where you can easily seek the help of insurance agents.
In addition, they has four tailored insurance options made by customizing the offers of its partners – general liability, general liability and commercial auto, general liability with commercial auto and inland marine insurance, and a custom plan.
Average cost: $63 per month
Get all the best quotes from leading providers in a click of a button!
Tivly is another company that allows you to compare quotes. However, you can’t do it online. Coverage options are provided if you call a Tivly representative. This company can help you create a highly tailored coverage consisting of different insurance policies available.
Average cost: $67 per month
Hiscox provides coverage for a variety of businesses. This company’s insurance package for limo service offers general liability, professional liability, business owner’s policy and cyber liability insurance. You get to choose between a wide range of policy limits and deductibles.
Average cost: $69 per month
GEICO has provided quality insurance products since 1936 and has consistently received praise for their excellent customer satisfaction and quality coverage options. With GEICO limo insurance, you can customize your coverage to fit your specific needs and budget.
Average cost: $71 per month
Progressive is one of the largest auto insurance companies offering a wide range of commercial insurance products, including limo insurance. Progressive limousine insurance is popular as it can be added with optional policies for the best protection.
Average cost: $75 per month
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
9.4 / 10
Fastest ever online insurance quote and purchase! Also, great rates and professional customer reps that helps with whatever you need, if you need. Nice company!
2.8 / 10
Embroker sells a product that it doesn't honor. We purchased a combination D&O and EPLI policy. However, when it came to renewal, it told us that we only had D&O coverage even through our ACCORD certificate clearly mentions we have both. Basically they refused to honor the EPLI coverage and will leave you hanging with the bag. At time of renewal, they more than doubled our quote to get similar coverage. Basically BAIT & SWITCH. Unacceptable tactics. Easy to buy and pay but you may not be... Read More
2.8 / 10
Great platform. Terrible policy. There is no teeth behind it. No coverage. It's a fake policy that they sell. Sold us an EPLI policy that later we came to find out had no EPLI coverage. Amazing that they can get away with outright fraud. Check the positive reviews. They are all 'Anonymous' posted by Emroker staff. Stay away and find a real policy that will actually provide you coverage. We've been bitten by them and hope to find restitution via a lawsuit.
Paul Burns Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
It has been 70 days since I made a claim on the roof of my building. No one from the company will return calls. We are in hurricane season and located in Louisiana. My building is tarped to secure it.
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
They are the worst, my truck was hit in January 23 and the claim adjuster has not been out to this very day! They have every excuse in the book as to why. They have not been to the collision shop. PLEASE AVOID THESE SCAM ARTIST!
Felicia Broadus Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Avoid these SCAM ARTISTS! They don’t pay claims!!! Save yourself the trouble and money!
Kasey Arey Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
This company gives you a price that was in place for a year and when you have to use it there is fine print were they can go back and charge you more. Would not recommend them to any one. Crooks
John Murphy Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Worst insurance comapny I have ever dealt with. A commercial vehicle represented by GUARD t boned my wife and daughters family vehicle in the middle of the day. Driver was cited and insurance claim insued. Fast forward 4 months and refusal of full amount of claim is still happening. Driver was found guilty, repairs started on my vehicle and when it comes to the final bill and diminished value we cannot get any help. I am out a family car, have an injured and traumatized wife and children,... Read More
Harshadray Patel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Extremely bad service, when you call , will make you wait on the phone for ever (over an Hour) and still no one to answer , so you end up hanging up. To cancel the policy, bounce you from one department to the other. They are supposed to refund from the date other insurance started and after sending the proof of other insurance policy, still they did not refund based on that actual date instead they use the date i managed to get hold of them. They charged me $7000.00 for a year's insurance on... Read More
Aaron Wensel Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
Guard Insurance is terrible. They were so bad I cancelled them because them couldn't figure out why I would never get a paper copy of the bill . Verified my address with them and still intermittent billing. I cancelled them in March through my local broker. Today 6/27 I get a letter in the mail from a collections company saying I owe 87.97. This was the first myself or my broker heard of owing this money. Here is some advice for this failure of a company send me a god damn bill and I will pay.... Read More
Michael Swink Insuranker
Policy Type: Business Insurance
Company name: Berkshire Hathaway GUARD Insurance Companies
0 / 10
My employer had to have workers compensation by law. He obtained a policy through this Berkshire Hathaway GUARD and they failed me. I fell from a ladder and fractured my spine in 7 different places, my clavicle in 4 places, and the base of my skull. Going to my Dr visits I was prescribed medication for pain and the insurance company placed a pre-authorization hold on me picking up the medication from Walgreens. The hold lasted 5 days! My weekly benefits have never been on time, right now... Read More
10 / 10
Liberty Mutual is one of the more simple companies to deal with. I had to file a claim for my business owner policy after I caught one of my employees stealing a large amount of products from my business. Liberty mutual paid the claim fast and with no efforts. I wish the legal process was as easy…
10 / 10
For me this company has proven to be the best to do business with and worth my hard earned money. Contractors this is your company look no further.
7.7 / 10
Decent experience with Hiscox business insurance
9.4 / 10
Very pleased with Hiscox - their small business insurance rates are very good and they specialize in small business which gives me a peace of mind as a small business owner. So far so good!
10 / 10
Their customer service is absolutely fantastic. Very patient, knowledgable and provided excellent explanation of the purchased policy. I would highly recommend this insurance company to anyone that's looking to protect their business from unexpected expense. Thank you Hiscox for doing a great job for my business!
0.6 / 10
STAY AWAY! I wouldn't recommend hiscox small business liability insurance to anyone. Better not waste both your money and your time. Hiscox customer service is extremely unpleasant, not organized and not professional. It is the worst company we have dealt with in almost 25 years in business!
10 / 10
Good company. Good and knowledgable customer service. If they don't know something they will pass you on to a more experienced rep that is more knowledgable. So far so good.
10 / 10
Extremely fast and simple. Wasted a lot of time and money until I found these guys! I feel like my business is in good hands now.
10 / 10
Hiscox's the best! My business is insured with them for over 12 years and am not planning to switch!
10 / 10
Excellent experience with Hiscox BOP for my coffee shop. They provided all it needed.
10 / 10
My HI barbershop is well covered with their great BOP product for 5 years already! not planning to switch!
10 / 10
Best insurance ever
10 / 10
Coolest concept, I wish this was applied to other insurance products too.
10 / 10
Great experience
6 / 10
Didn't relate to the concept much, but it makes sense if you need insurance to go
0 / 10
It doesn't really feel sustainable to me and doesn't offer business interruption, product liability and commercial property insurance. They have no local agents and despite their technology first approach you cannot file claims online. Additionally, product manufacturers are not covered by Thimble and they don't provide enterprise solutions.
10 / 10
As a contractor that works 3 times a week for a few hours, Thimble gets really handy for me and saves me money. I have no use for these massive business insurance coverages offered by traditional insurance companies.
10 / 10
Excellent concept which is useful to many small businesses!
10 / 10
Been waiting for this type of solution for a long time!
10 / 10
Love their business insurance solutions for freelancers! Great app!
Not all those who wander are lost.
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