Looking for Limo Insurance?
Limo insurance is specialist cover for limousines used for hire and reward.
This quick guide looks at smart buyer’s tips, optional extras and ways to save money on limo insurance.
Why do limousines need special insurance?
Limousines are certainly not standard cars, they are the ultimate car for special occasions, from weddings to proms and everything in between, a limousine makes an event all the more memorable. Similar to chauffeur insurance, limo insurance provides cover for high-end limos such as limousines by Hummer, Chrysler and Mercedes-Benz.
A large majority of limousines are used for private hire and so limo insurance is designed to cover specialist parts and labour, private hire cover and passenger liability.
What to look out for when choosing limo insurance
To legally drive a limo on UK roads you will require a minimum of third-party cover. If your limousine is your business, you will also need the correct licence, as well as private hire insurance and suitable cover to get you back on the road again quickly.
Additions to your policy you might like to consider include:
Especially if your limousine is an American import or modified in any way, an agreed value policy can cover the actual value of your vehicle rather than the market price for similar.
Invaluable when you need to get back on the road quickly. Some insurers will offer a fully licensed replacement limo in the event of a no-fault claim, which is vital if you have existing bookings and commitments to honour.
Designed to cover the cost to your business should you or your limo be off the road.
Covers the ‘gap’ between an amount owed on a vehicle and the market value at the time of a claim.
Looking for limo insurance? Don’t forget…
Two extras when it comes to taking out limo insurance include breakdown cover and public liability. Although neither are required by law, should the worst happen you’ll be very glad you had them:
Covers against claims made by members of the public, passengers or not.
Including onward travel for passengers.
Ways to save money on limo insurance
Limo insurance is more expensive than standard private hire insurance primarily because of the additional value of limousines. High-end, high-specification cars, limos require specialist parts and labour to repair. There are smart ways to reduce limo insurance premiums aside from having a clean driving licence and positive claims history.
Restricted mileage means restricted risk, which means lower premiums. This type of policy is ideal if you only use your limousine occasionally for local events etc.
Many insurers offer discounts to affiliated members clubs. Membership is testament to your passion and enthusiasm for your vehicle.
As with chauffeur insurance, insurers look favourably on careful, skilled drivers, so advanced driving qualifications can affect your premiums.
If your limousine is a classic, a classic car policy could be an efficient way to insure it.
Limo insurance and additional business cover
Using one insurer for multiple policies can offer the best value for money, as well as simplify the paperwork when it comes to claims and renewals. In additional to limo insurance, many insurers will also offer:
Multi car and any driver policies are a very efficient way to insure a limo fleet
If you own and operate from commercial premises
A legal requirement for anyone who employs people
Limo Insurance – Useful FAQs
Limo insurance is specifically designed for limousines. It incorporates private hire insurance, passenger liability and the additional cost to repair and replace limousines. Examples of the types of vehicles covered include:
- Mercedes Pullman
- Lincoln Town Car Limo
- Stretch Mini
- Chrysler 300
- Lincoln Navigator Limo
- Hummer Limo
- Ford Excursion Stretch Limo
As with any type of vehicle insurance, there are factors which can reduce costs, such as:
- Having a clean driving licence and positive driving history
- Paying for your policy annually and up front
- Using an insurer that honours and protects your No Claims Discount
- Taking advantage of a multi-vehicle policy if applicable
- Keeping your vehicle in a locked and alarmed garage
Limousines are not standard vehicles and so limo insurance is a specialist policy. As such your insurers should be able to accommodate some modifications without a massive hike in premiums, depending on the nature of the modification.
Any increase in speed and power will inevitably increase risk and so increase the cost of your policy. The important thing to remember with modifications is to declare them to your insurer. Failure to mention them could invalidate your policy.