Due to the rough economy, many livery vehicle operators are forced to find new ways to profit. Even the most successful drivers are seeing a decrease in revenue and overall business. As a result, many drivers may be teaming up with competitors to both preserve and promote business, according to limo.org. Have you considered this option?

As your dedicated livery insurance providers, our agency would like to share a few tips for those who may be considering this new way of doing business. In order for it to work, it is important that you work well and fair with your competitors. You must:

• Understand that your competitor is YOUR client, since you are transporting its client. You must represent the company that is giving you work.

• Both you and your competitor must come to an understanding in terms of credit, payment and cancellations. In order to work together, you must always be on the same page.

• Trust your competitor. This may be hard, but it must be done in order to work out. If you have a “bad feeling” about this situation, it may be best to pass. The last thing you want is to lose business because your competitor solicited your clients!

• Find a competitor who works in a similar way as you do, especially in terms of vehicle choice, equipment, training and standards.

• Go over coverage and make sure both you and your competitor are properly covered in the event of an accident, issue, mishap, etc.

• Form an agreement with the other company. It is important to not let your competition affect customers and their experience.

If both you and your competitor work well together, this plan just may end up saving both of your businesses!

Just remember: it is still important to keep up with your own livery insurance plan. In fact, this new way of working may actually call for a change in your coverage. Be sure to contact our agents at Wolpert Insurance for more information. Even the slightest changes may affect your coverage; and you wouldn’t want coverage gaps, would you?