If your business consists of transporting people in a vehicle for which you receive payment you will need to ensure that you have the correct type of vehicle insurance. While taxi insurance will normally cover expenses and risks that may be incurred as a result of your business, this type of insurance does not usually provide cover if your vehicle is a luxury car or limousine used for such things as weddings and funerals.
If you are a chauffeur and drive a stretch limousine, Rolls Royce, Mercedes or any other kind of vehicle that can be classified as an executive or luxury vehicle then you will need to a specific type of insurance. This includes vehicles used for corporate contract work where a luxury car and driver are supplied for which you receive reward or payment.
If you own private hire vehicles for commercial purposes in the UK, you must use a suitable form of insurance which differs from a standard vehicle policy. This is not only because it is a responsibility for yourself and other road users, but also your responsibility to deliver the passenger to their destination safely. Insurance is not limited to ensuring safety of passengers and other road users but also to cover your income through loss of business. The following are very practical and in some cases, legal requirements.
Insurance by the employer: If you employ people outside your family, you are legally required to purchase Employer's Liability Insurance.
Property insurance: This will be a number of assets such as buildings, equipment, materials and contents from loss or damage caused by a number of reasons includingfire, flood, theft or other disasters. Discuss the requirements and necessity for this type of insurance to keep your business premises fully covered.
Business interruption insurance: This cover is against loss of income or business in case of damage to your property or vehicles that prevents the occurrence of normal business hours.
Money insurance: In some cases, insurance funds will reimburse you for money lost or stolen from your offices. Check with the insurance companies to find out whether they are able to offer this additional protection.
In recent years, insurance is increasingly expensive to purchase. With the involvement of many systems and the loss of many insurers in the UK, some chauffeurs must pay an additional 50% or more. Some insurance agents or companies limit the flexibility by offering 3, 6 or 12 months of the policy.
Chauffeur Insurance should be regarded as one third of the Third Party Fire and Theft or Third Party Only Insurance Package, and should not be limited only to a private car. Depending on the type of business you have, you can get insurance for public hire vehicles, private hire vehicles, supplier of funeral cars, hospital and social services, cars, school contracts with driver and chauffeur driven limousine wedding cars.
Talk to insurance companies to ensure you have the correct type of insurance and the insurance options available to meet your individual business needs. Make price comparisons between different insurance companies to find the most competitive chauffeur insurance deals.
Author Resource:-
Paul Headley is a specialist insurance article writer. Staveley Head are a leading UK insurance broker for
chauffeur insurance
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