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Thread: I Need Bus Insurance in New York (Help)

  1. #1
    Junior Member
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    Feb 2012
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    Default I Need Bus Insurance in New York (Help)

    Hi Friends

    I Need some real help I have 1983 MCI Bus and i need insurance on it Coverage Amount needs to be 5Million liability i reside in NY now i called a few Insurance Company and they said they cannot offer me a quote because they don't take new ventures now the second problem is i went in Brokers office and they offered me ESTIMATE not actual price of $20.000.They kept saying i might be more or less.I am really nervous ,The Companies Name is New York Automobile Insurance Plan (Assigned Risk).


    Can Some one help give me an actual number our any company that might work for me.

  2. #2

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    Phil is the person you want to speak with. Here is his contact information.


    Phil T. Brun
    Kiely, Hines & Associates Insurance
    800-295-1897 Ext. 2756
    502-569-2756 Direct
    pbrun@kielyhines.com

    Elegant Knights Limo-Party Bus
    http://getonthebusandpartywithus.com/

  3. #3
    Senior Member
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    You may also give American Specialty Insurance a call
    Hugh Tamoney
    561-683-1220
    Between Phill and Hugh you should be in good hands at a good rate

  4. #4
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    123, I would not advise you to enter this industry based upon your first years insurance costs because rates are increasing. You purchased a bus before you had a plan. Before you spend any more money, I recommend that you slow down and make certain that you are going to be able to generate enough revenue to make it in this industry.

    You are operating a CDL required vehicle and require $5mm limits, in addition to your other insurance needs such as Workers Compensation, General Liability, Property, etc., and CDL vehicles cost more to own, maintain, and operate across the board, therefore the amount of revenue that is required is much greater. Your geographic operating area also has a lot to do with risk costs as well as teh quality of your chauffeurs, and in times like this when the insurance markets are hardening the owners and operations finacial strength comes into the picture.

  5. #5
    Senior Member RoyalFleet's Avatar
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    Would his premium for 5 million really be $20,000 for one vehicle?

  6. #6
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    Quote Originally Posted by RoyalFleet View Post
    Would his premium for 5 million really be $20,000 for one vehicle?
    With regards to insurance and premium there is a science to it, it's not just made up out of thin air. The premium charged it relative to the risk assumed by the insurance company. A new start up passenger carrier, operating CDL required vehicles, wanting $5mm in coverage limits may find that the above premium is more than affordable--it depends on the risk assumed.

    I do not know enough about the operation to make a judgement call. The quality of chauffeurs, radius of operations, age of vehicle, financial strength of the owner/operation, experience of management/ownership, length of time in operation, fleet value, and much more goes into the actual underwrting and rating of a proposal of insurance.

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  8. #8
    Senior Member Cedar Mill Limousine's Avatar
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    Quote Originally Posted by brandon1 View Post
    I paid about $9k or so my first year for 1 vehicle.
    For a 54 pax? I am pretty sure that is all MCI makes. Also note, its an '83 - very old, I am sure that is scaring the ins. companies too. Lots of crackdowns on bus operations across the US from what I have been reading.
    Rich Rottier
    219.808.0976 | richrottier@gmail.com

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