Valets are found in hotels, resorts, and other hospitality businesses. They help sort the guests’ cars out. It is vital for valet business owners to keep their business insurance up to date. Valet insurance is a combination of policies that protect you from medical costs and legal liabilities. Read further to know the policies included, valeting insurance cost estimates, and the best companies.
CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
---|---|---|---|---|---|
Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$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 | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
Waiver of subrogation included? | Yes | No | Included | Can be included | No |
Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
One of the most common types of valet insurance coverage is general liability insurance. This type of car valeting insurance protects your company from third parties who experience bodily injury and property damage at the hands of your business. Some situations to use this coverage include:
A customer slips and falls while waiting for your valet service
When your valet is getting a customer’s car, they damage part of the interior
The general liability policy of your valet company insurance will primarily offer the following types of protection:
Premises and operations | Protects against bodily injury and property damage from ownership and maintenance of the business property. |
---|---|
Completed operations | Protects against customer claims from faulty products and completed operations |
Indirect/contingent | Covers negligent actions of independent contractors or others related to your business |
Valet parking insurance with general liability coverage will have a coverage limit of $1 million per occurrence and up to $2 million in aggregate.
Tools and equipment insurance–Provides financial aid for tools and equipment that get damaged during covered events
Cyber liability–Protects your business against potential costs that come from phishing, data breaches, and cyber extortion
CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
---|---|---|---|---|---|
Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
Valet parking insurance coverage with a professional liability policy protects your company from legal challenges or medical expenses that occur due to an employee error. Some occasions when you can use this coverage include:
A valet driver forgets to lock the door to a client's car, causing some property to be stolen
One of your drivers parks a car in the wrong lot, which is damaged by construction nails
Professional liability insurance for valet parking company may be customized to include a few add-ons, including:
Prior acts coverage–Covers your business against perils or losses that occurred before your current policy
Additional insured–Lets you name additional parties to get insurance protection on your policy
Coverage limits on professional liability range from $250,000 to $2 million. Typically, you want this type of valet service insurance to settle on a $1 million coverage limit to stay affordable but remain comprehensive.
A full valet service fully vacuums your car and cleans all the surfaces. They will often add a leather shine and a shampoo clean service for your interior. This valet liability insurance should cover the extra services that full valet services provide in case a workplace mistake or oversight results in a lawsuit.
Public liability insurance for car valeters acts like general liability insurance but only provides protection for claims by members of the public. Examples of when this coverage applies include:
A bystander gets their property damaged by a valet car.
A member of the public enters your valet parking lot and slips and falls
Public liability insurance for car valeters is often not an option for many insurers since general liability typically offers the same coverage but is broader in scope.
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CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
---|---|---|---|---|---|
Building coverage limit (minimum) | $50,000 | $330,000 | $25,000/$500,000 | $60,000 | $25,000 |
Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $60,000 | $15,000 |
Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
Business interruption floater | Excluded | Included | Included | Excluded | Included |
Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
The commercial property coverage of your car valeting business insurance package covers damage and repairs to any commercial building and property contained within it. Some examples of situations to use this insurance include:
Your valet parking lot is damaged by a fire
Someone breaks into your commercial property lot and damages company property
Coverage limits for commercial property are determined by the value and risk of what is covered under your policy. Typically this will amount to around $60,000 but will greatly depend on the value of your commercial property.
The commercial property coverage of your valet business insurance can have these add-ons:
Flood insurance–Adds protection to damage from floodwaters if your policy doesn’t automatically include it
Business interruption–This policy can make an excellent policy to complement your commercial property policy because it protects from more abstract outcomes of commercial property damage like lost income and relocation expenses
Any intentional harm you do to your property will not be covered by the commercial property policy in valet parking business insurance packages. Moreover, you will not be covered if you fail to maintain your property and gets subject to things like insect damage.
CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
---|---|---|---|---|---|
General liability aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 |
Commercial property coverage limit | $50,000 | $330,000 | $25,000/$500,000 | $75,000 | $75,000 |
Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
BOP discount? | Yes | Yes | Yes | Yes | Yes |
A Business owner’s policy is a type of insurance for valet business that combines the coverage of commercial property and general liability into one simplified policy. This has the advantage of reducing your valet company insurance cost. Situations to use this insurance include:
A customer gets injured by a valet driver
Your valet parking lot sustains earthquake damage
One of your guests had their property damaged by a valet driver
A BOP gives $500,000 commercial property coverage and $1 million-$2 million general liability coverage.
Since a business owner’s policy lets you add on many kinds of policies, you will want to take advantage of business hazard insurance add-ons that protect your property against fire, theft, and windstorms.
Another good option is employment practices insurance. This policy protects you from any employees that try to sue you for harassment, discrimination, or wrongful termination.
Yes, if you have the budget, you should invest in business interruption insurance. Business interruption insurance can help you safeguard your profits from covered events.
Commercial auto insurance is a series of policies that protect any vehicles you use in your business and any liabilities they may incur. Some situations to use this coverage are listed below:
If a business vehicle you own gets damaged in your valet parking lot or garage
If, during the course of business, your valet driver gets into a collision accident
Valet car insurance is often comprised of several different policies, which are listed below:
Auto liability–Auto liability coverage of commercial auto insurance takes care of costs if your commercial auto causes an accident that result in the injuries of third parties
Collision–This policy covers damage to business vehicles that result from vehicle collisions
Comprehensive–A policy that covers theft and virtually everything that damages your vehicle besides collisions
Uninsured/underinsured motorist–This policy provides coverage to supplement gaps in another motorist's lack of proper insurance
Roadside assistance–Roadside assistance covers the cost of gas delivery, tire delivery, towing, and other roadside assistance services for your car if it breaks down
Rental reimbursement–Provides a reimbursement when a commercial vehicle is out of commission, and you need a rental vehicle
Typically you will get insurance coverage of $100,000 per person, $300,000 per accident, and $50,000 for property damage.
Garagekeepers coverage for valet service offers protection for storing customers’ vehicles as a part of your business. It covers damages to customer vehicles in situations like:
A customer vehicle is stored in your valet garage, but a criminal breaks in and vandalizes it
Someone steals a guest vehicle out of your valet lot
Garage keepers insurance typically has an available coverage limit of $2,500 per occurrence.
Yes, direct primary garage keepers insurance covers customer vehicle damage even if the customer has their own personal auto insurance policy, regardless of who is found to be liable for the damage.
Workers' compensation insurance is an insurance policy that pays for medical costs and lost wages for employees that get injured. This insurance policy will pay out in situations like:
A valet driver gets injured in the valet parking lot and is unable to work
One of your valet employees slips and falls while getting out of a car, injuring their back
Yes, the majority of states require workers' compensation coverage for any business with full-time and part-time employees.
No, by default, independent contractors are excluded from workers' comp requirements. You can choose to add them as additional insured or purchase a separate policy for independent contractors.
Cost per Month | Cost per Year | Deductible | |
---|---|---|---|
General liability insurance | $51 | $612 | $0-$500 |
Professional liability insurance | $60 | $720 | $500-$1,000 |
Garage keeper's liability insurance | $67 | $804 | $500-$1,000 |
Commercial property insurance | $65 | $780 | $1,000-$2,000 |
Business owner's policy | $116 | $1,392 | $1,500 |
Tools and equipment insurance | $62 | $744 | $500-$1,000 |
Commercial auto insurance | $72 | $864 | $500-$1,000 |
Workers compensation insurance | $92 | $1,104 | $2,500-$5,000 |
The average cost of valet insurance is $51 per month or $612 per year for a $1 million general liability coverage. Factors that may cause your actual valet insurance cost to be cheaper or more expensive are claims history, business history, revenues, policy limits, deductibles, location, and more. Here are some things you can do to decrease car valeting insurance cost:
Have high deductibles
Bundle two or more policies
Refusing add-ons if you don’t need them
In connection, here’s a table giving a further idea of the valet parking insurance cost by showing how much is a $1 million general liability insurance from companies we recommend:
Cost per Month | Cost per Year | Best for | |
---|---|---|---|
NEXT | $30 | $360 | Best overall; Fastest general liability insurance for valets |
The Hartford | $33 | $396 | Workers compensation insurance for valets |
CoverWallet | $39 | $468 | Comparing valet insurance quotes online |
Tivly | $41 | $492 | Comparing valet insurance quotes over the phone |
Thimble | $44 | $528 | On-demand coverage for valets |
Hiscox | $48 | $576 | Small valet businesses |
Finally, get a further grip of the valet business insurance cost by comparing quotes. Start by clicking the “Get Quotes” button on this page.
Get all the best quotes from leading providers in a click of a button!
Here are some of the companies to consider working with. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for valets
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT provides a great selection of policy options for valet business owners. They have general liability, professional liability, commercial property, and more. Their commercial auto policy has towing and labor built into the cost of the policy, and you get up to $100 per day for rentals for your car being in the shop.
NEXT has an A- rating with AM Best, as well as a B+ with the Better Business Bureau. AM Best is a financial rating report card like Fitch that rates different insurers. With a high rating, you can rest easy that the company will be around to pay for claims on your policy.
Best for: Best overall; Fastest general liability insurance for valets
Average cost: $30 per month
Our rating: 10/10
Great policy selection
Can create specialized policies for high-risk customers
Renowned company for workers comp insurance
No coverage in Alaska
The Hartford has one of the best selections of add-ons to customize your valet business insurance. They have business owner’s policy, general liability, professional liability, commercial auto, and worker’s comp policies. The company offers an add-on for BOP to protect customer data and pay for costs related to customer relations. The Hartford has an A+ rating from AM Best.
Best for: Workers compensation insurance for valets
Average cost: $33 per month
Our rating: 10/10
HNOA coverage automatically included in general liability insurance
High-tech dashboard for tracking policies
Compare quotes quickly online
Not an insurance company but an insurance broker
CoverWallet is a digital marketplace where you can purchase insurance policies from different companies while comparing quotes. They have garage liability options through their partners in addition to staple policies that valet businesses would need. CoverWallet earned an A+ BBB rating for its good customer satisfaction.
Best for: Comparing valet insurance quotes online
Average cost: $39 per month
Our rating: 10/10
Grants coverage regardless of your risk profile
Compare quotes over the phone
A partner of reputable insurance companies
No online quotes
Tivly has over 200 partners that offer the entire range of policies that valet owners need. They have workers' compensation, garage keeper's liability, general liability, and more. Tivly has 20 years of experience that have netted them an A rating from the BBB. Call now to compare quotes over the phone.
Best for: Comparing valet insurance quotes over the phone
Average cost: $41 per month
Short-term general liability insurance is available
Numerous add-ons to BOP
Streamlined quote and purchase process
No phone customer support
Thimble has one of the quickest processes to get your policy up and running. Similar to NEXT, this company allows you to get a quote for general liability, commercial property, and other policies without providing a lot of business information. They have a separate business contents add-on for commercial property insurance. Thimble secured an A+ rating from AM Best and an A+ rating from BBB also.
Best for: On-demand coverage for valets
Average cost: $44 per month
Our rating: 10/10
Tailored coverage
The majority of their customers have small businesses
Worldwide coverage
Automatic policy renewal
Online quoting not available all the time due to periodic site maintenance
Hiscox offers tailored and customized policies with an emphasis on small business clients. They have resources for how to start and grow your business and offer policies like general liability, professional liability, workers' compensation, and others. Hiscox has helped over 500,000 small businesses get policies and has an A rating from AM Best.
Best for: Small valet businesses
Average cost: $48 per month
Our rating: 10/10
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!