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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. This article will enlighten you about the policies included, valeting insurance cost estimates, and the best companies.
One of the most common types of valet insurance coverage is general liability insurance. This type of mobile car valeting insurance protects your company from third parties who experience bodily injury and property damage at the hands of your business.
It will have a coverage limit of $1 million per occurrence and up to $2 million in aggregate.
| 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 |
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. Coverage limits range from $250,000 to $2 million.
Some occasions when you can use this coverage include:
| 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 |
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:
Valet liability insurance offers protection to those businesses which provide valet parking services for their clients.
The insurance policy is needed so that the business may bear the risks of damages, such as accidents as well as damage to the customer vehicles and even injury to the customers.
The commercial property coverage of your car valeting business insurance package covers damage and repairs to any commercial building and property contained within it. Their payment will amount to around $60,000 but will greatly depend on the value of your commercial property.
Some examples of situations to use this insurance include:
The commercial property coverage of your valet business insurance can have these add-ons:
| 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 |
A Business owner’s policy for valet business combines the coverage of commercial property and general liability into one simplified policy.
A BOP gives $500,000 commercial property coverage and $1 million-$2 million general liability coverage. This has the advantage of reducing your valet company insurance cost. Situations to use this insurance include:
| 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 |
Get all the best quotes from leading providers in a click of a button!
Commercial Auto Insurance for Valets
Commercial auto insurance is a series of policies that protect any vehicles you use in your business and any liabilities they may incur. Incase of the accident occurring you will get insurance coverage of $100,000 per person, $300,000 per accident, and $50,000 for property damage.
Commercial auto insurance is often comprised of several different policies, which are listed below:
Garagekeepers coverage for valet service insurance offers protection for storing customers’ vehicles as a part of your business.it typically has an available coverage limit of $2,500 per occurrence.
It covers damages to customer vehicles in situations like:
Workers’ compensation insurance is an insurance policy that pays for medical costs and lost wages for employees that get injured.
Majority of states require workers’ compensation coverage for any business with full-time and part-time employees. This insurance policy will pay out in situations like:
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.
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;
Here are some things you can do to decrease car valeting insurance cost:
| 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 |
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 | ||
| NEXT | $30 | $360 | |
| The Hartford | $33 | $396 | |
| CoverWallet | $39 | $468 | |
| Tivly® | $41 | $492 | |
| Thimble | $44 | $528 | |
| Hiscox | $48 | $576 |
Here are some of the companies to consider working with for insurance for valet parking companies. Read some of the reviews below to know their pros, cons, and average rates for a $1 million general liability insurance.
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.
Average cost: $30 per month
Our rating: 10/10
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
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.
Average cost: $39 per month
Our rating: 10/10
Get all the best quotes from leading providers in a click of a button!
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.
Average cost: $41 per month
Our rating: 10/10
They allow 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 content add-on for commercial property insurance. Thimble secured an A+ rating from AM Best and an A+ rating from BBB also.
Average cost: $44 per month
Our rating: 10/10
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.
Average cost: $48 per month
Our rating: 10/10
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!
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