5 Factors Used to Calculate a Livery Insurance Premium

As the owner of a livery vehicle or business, you should always know what your money is going towards and why, especially when it comes to coverage! According to limo.org, there are usually five primary factors that are taken into consideration when calculating a livery insurance premium:

#1: The company. There are a variety of factors to take into consideration when it comes to general information about the company, including: location, how long your company has been in business, your management system, professionalism, etc.

#2: Maintenance program. Are the company vehicles well-kept? The less risky this area seems to be, the lower the premium may be. Such questions an insurance agency will consider include: Does the company maintain its own vehicles? Are the vehicles inspected often? Are the vehicles stored in a garage or safe place?

#3: Your chauffeurs. Trusty and professional chauffeurs will positively affect your premium. Insurance agencies may ask if you perform background checks, implement disciplinary rules and regulations and if you have put together an employee manual. They will probably ask if your drivers are considered employees covered by your workers compensation policy.

#4: Vehicles and clientele. Of course, the types of vehicles that your company is operating will play a huge role during this process. Also, do not be surprised if you are asked about the types of clients you are dealing with and the type of traveling they do.

#5: Overall reputation. The better your reputation is, the better your premium will ultimately be. Do you have a good loss record? Is your company considered a “good account?”

As you can see, there are a lot of factors to take into consideration.

Our experts at Wolpert Insurance would be happy to look at your business and be sure that you are getting the most for your hard earned money. For a free livery insurance quote, contact us today!


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