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Thread: Compensation for Down Time?

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    Default Compensation for Down Time?

    Another limo company hit my parked limo, I have read on here that commercial insurance pays the average daily income of that vehicle while it is down, is this standard for all commercial limo insurance? Also what do I ask the insurance company for to get this compensation?

  2. #2

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    Maybe maybe not, depends on what your policy says. Ours didn't cover that when our hummer was down for 3 months...Hope your insurance salesperson took care of you and had that clause/coverage in the policy. Maybe Phil will have some insight.....

    Kathy
    City Heat Limousine

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    It would be a claim against the other insurance company, not mine.

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    yes I have gotten paid significant money before when a lady hit our hummer limo, they paid downtime for like 2 months.
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    Senior Member LIMOJESS's Avatar
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    I have gotten paid for downtime too. You have to proof to them you can't just go to Enterprise or Budget and rent a similar vechicle. That vechicle has to be licensed by the state and etc. That is for a Lincoln town car, regular suv and Van.

    For a stretch limo it is a no brainer.

  6. #6
    Senior Member Wade Randolph's Avatar
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    Quote Originally Posted by Ryan_R View Post
    Another limo company hit my parked limo, I have read on here that commercial insurance pays the average daily income of that vehicle while it is down, is this standard for all commercial limo insurance? Also what do I ask the insurance company for to get this compensation?
    Take the gross revenue from that vehicle last year and average it out per day. That is what you should get paid plus diminished value of the vehicle after the accident.

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    Super Moderator Limo Scene's Avatar
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    Agree with Wade. When I had a claim like that, I had to take the past two year and add up the weeks the vehicle was down, divide by the number of days it was down and come up with an "average daily revenue" and that is the amount they will pay based on "historical data".
    Jim A. Luff
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