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Thread: TxLimoGuy - Insurance comment

  1. #1
    Senior Member Limo Padawan
    Join Date
    Dec 2006
    Location
    Portland Oregon
    Posts
    148

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    My one comment is that if you are paying $9K to $12K insurance on a vehicle that old you are getting totally ripped.

    You shouldn't be paying more than $4K.
    I am? ok. I do want to look into this more. Question for you. I was assuming that the difference was that our vehicle is considered a bus as it's rated at 22 passengers. Also with myself and one other person being the drivers. We have 100% clean records. But I figured that it was because we were new intro the business. Oh also. The $9000 annual quote does also provide full coverage.

    Here in Oregon we are required to have a $5,000,000 liability policy since we are a bus. Let me know if it still seems out of whack.

    As for the blog. I'm glad you found it interesting. It certainly has been attracting a lot of attention with several hundred readers a day. It even caught the eye of one of our local papers and they are discussing doing an article on us once we are up and operating.



    ==============

    Check out my Limo blog where I tell all about our first year of business.

  2. #2

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    You mention in your blog that you talked to 7-8 insurers. Were they local folks, or insurers listed in our trade magazines?

    If you are not already doing it, come to the LCT show this weekend and talk to all the insurers there.

    I know for a fact that even on a brand new H2 200" strtech a policy can be found for under $4K. Perhaps a tad more if you go for $5M in liability.

    Yes you will pay a bit more than that for being new, but paying more than double seems excessive.
    Tony Franzetti
    Marriton Limousine, Austin, TX
    Austin Limousine service, Austin airport service, austin bus charters
    http://www.marritonlimo.com

  3. #3
    Senior Member Limo Padawan
    Join Date
    Dec 2006
    Location
    Portland Oregon
    Posts
    148

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    We just got our first copy of LCT yesterday in the mail. We'll call some of the insurers listed in there.

    I would liove to make it to the show but my other company has a big production release this weekend so I'll be stuck here.



    ==============

    Check out my Limo blog where I tell all about our first year of business.

  4. #4
    Senior Member Wade Randolph's Avatar
    Join Date
    Oct 2000
    Location
    Baton Rouge, LA USA
    Posts
    2,472

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    Originally posted by TxLimoGuy:
    You mention in your blog that you talked to 7-8 insurers. Were they local folks, or insurers listed in our trade magazines?

    If you are not already doing it, come to the LCT show this weekend and talk to all the insurers there.

    I know for a fact that even on a brand new H2 200" strtech a policy can be found for under $4K. Perhaps a tad more if you go for $5M in liability.

    Yes you will pay a bit more than that for being new, but paying more than double seems excessive.
    Tony keep in mind rates vary greatly by state. The rates he quoted would probably be about right here in Louisiana also. Texas has much lower rates.

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