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Almost all states in the nation require limousines carry mandatory liability insurance. Liability insurance protects drivers and owners of limousines and taxis against the cost of damage to other people or their property. Liability insurance covers claims against the policy holder and other operator of the insured limousine or taxi.

Liability insurance usually covers bodily injury (Sometimes known as BI) or property damage ( Sometimes known as PD) for which the covered driver is considered responsible. The minimum amount of limousine insurance coverage that is required may be different depending on the state where the limousine is garaged. Coverage can usually be increased. This will probably result in an additional charge.

Liability insurance for limousines is usually written in two forms. Either a Combined Single Limit or a Split Limit. The Combined Single Limit combines both the bodily injury coverage and the property damage coverage.This means that in the event of an accident, the insured driver will have combined protection for any bodily injury he caused as well as any property damage he may have caused also. The Split Limit separates the bodily injury coverage and the property damage coverage in the event of a loss. The split limit would protect for a certain limit maximum for the bodily injury and another certain limit maximum for the property damage that was caused.

Another very important part of limousine insurance coverage is the Uninsured and Underinsured coverage section of the policy. This provides protection if the responsible person does not have liability insurance or does not have enough liability insurance coverage. If another party were at fault but did not carry liability insurance, the insured limousine would then be covered by the Uninsured portion of their policy. Most states require Uninsured Motorist and Underinsured Motorist coverage for limousines and taxis.

Due to the value of most limousines, most owners will usually choose to purchase a Full Coverage limousine insurance policy. Full Coverage is the name commonly referred to as Collision and Comprehensive coverage.

Collision coverage for a limousine extends protection to the insured limousine for damages to it caused by a collision with another vehicle or most objects. (hitting an animal such as a deer usually falls under the comprehensive portion of the policy ).

Comprehensive coverage for a limousine or taxi extends protection to the insured limousine for damages not considered a collision. An example would be if the limousine or taxi were damaged by vandalism or by a heavy hail storm. Both collision and comprehensive coverage for a limousine or usually have a deductible. A deductible is the initial amount of money the insured is responsible. ( For example: a $500.00 deductible ) After the insured pays this portion of his damage, the balance is then covered and paid for by the insurance company.

There are many other insurance coverage’s and options available to limousine or taxi cab owners. To be sure you have the right protection at the best price available give us a call.

Professional Insurance Strategies

3519 E. Shea Blvd Suite 120

Phoenix, AZ 85028
602-481-0161

Taxi Insuance and Limo Insurance -Arizona, Neveda, New Mexico

We have just secured and new Premium Financing Company that will allow us to do 12%-15% down payment for our Taxi and Livery customers.

Gary Hanson

Professional Insurance Strategies, LLC

3519 E. Shea Blvd. Suite 120

Phoenix, AZ 85028

602-481-0161

www.proinsgroup.com

Taxi and Livery Insurance Phoenix, Arizona-Diminished Value Claims

From time to time we are asked by our taxi and livery customers about recovering the loss of resale value to their vehicle when they are involved in an auto accident. If you are involved in an accident and a thirty party is at fault the insurance company will fix your car and many times it is left at that.

If you were to trade in the vehicle and disclose the damage would the car be worth what it was before the accident?
Is there case law in Arizona to help with these types of diminished value claims?

If you were to trade in the vehicle and disclose the damage would the car be worth what it was before the accident?
Is there case law in Arizona to help with these types of diminished value claims?

If you are a taxi or livery insurance customer in Arizona and would like more information on this case please let me know.

Gary Hanson
Professional Insurance Strategies, LLC
3519 E. Shea Blvd., Suite 120
Phoenix, AZ 85028
602-481-0161
www.proinsgroup.com

Limousine and Taxi Inusurance Requirement Changes for Phoenix and Rest of AZ-

The State Legislature recently enacted a Revised Statute to the requirements for Taxi, Limousine, and Livery Operators. The bill is outlined below. If you have any questions please feel free to call us at 602-481-0161 or stop by at 3519 E. Shea Blvd Suite 120, Phoenix, AZ 85028

Be it enacted by the Legislature of the State of Arizona:

Section 1. Repeal

Section 28-142, Arizona Revised Statutes, is repealed.

Sec. 2. Title 28, chapter 1, article 3, Arizona Revised Statutes, is amended by adding a new section 28-142, to read:

28-142. Livery vehicle, taxi and limousine regulation; state preemption

The regulation and use of livery vehicles, taxis and limousines are of statewide concern. Livery vehicles, taxis and limousines and their use that are regulated pursuant to this title are not subject to further regulation by a county, city, town or other political subdivision of this state, except that a public airport operator that operates a public airport pursuant to section 28-8421, 28-8423 or 28-8424 or a public body operating a public airport may establish the number of livery vehicles, taxis or limousines that may conduct business at a public airport or may set additional or more restrictive requirements for the conduct of that business at a public airport.

Sec. 3. Repeal

Section 41-2052, Arizona Revised Statutes, is repealed.

Sec. 4. Title 41, chapter 15, article 1, Arizona Revised Statutes, is amended by adding a new section 41-2052, to read:

41-2052. Livery vehicle, taxi and limousine regulation; state preemption

The regulation and use of livery vehicles, taxis and limousines are of statewide concern. Livery vehicles, taxis and limousines and their use that are regulated pursuant to this title are not subject to further regulation by a county, city, town or other political subdivision of this state, except that a public airport operator that operates a public airport pursuant to section 28-8421, 28-8423 or 28-8424 or a public body operating a public airport may establish the number of livery vehicles, taxis or limousines that may conduct business at a public airport or may set additional or more restrictive requirements for the conduct of that business at a public airport.

Sec. 5. Section 41-2096, Arizona Revised Statutes, is amended to read:

41-2096. Signage

A. A taxi or livery vehicle shall display interior signage that contains the licensee’s business name and address and that is all of the following:

  • Permanent.
  • Readily visible.
  • Accurately representative of all fares and the fare computation method.

A TAXI OR LIVERY VEHICLE SHALL DISPLAY INTERIOR SIGNAGE THAT CONTAINS THE DRIVER’S NAME AND IS READILY VISIBLE TO PASSENGERS.

B. c. A taxi is required to display exterior signage that contains the licensee’s business name and telephone number, that contains the word “taxi” or “cab” and that is all of the following:

  • Permanent.
  • In letters at least three inches in height.
  • Readily visible and a minimum of one inch in height for fare information.
  • Accurately representative of all fares and the fare computation method.

C. d. For purposes of this section, a livery vehicle shall display exterior signage that is readily visible while the livery vehicle is not occupied by a paying passenger. The signage must contain the business name and the words “livery car” in letters at least three inches in height and shall include fare information at least one inch in height. When a livery vehicle has accepted a passenger and a fare has been determined, a livery vehicle may remove the exterior signage.

Sec. 6. Title 41, chapter 15, article 4, Arizona Revised Statutes, is amended by adding section 41-2097, to read:

41-2097. Livery vehicle, taxi and limousine, criminal background checks; vehicle maintenance records

A. An owner of a livery vehicle, taxi or limousine licensed through the department shall have available for inspection at all times by the department written evidence of criminal background checks of any drivers operating a livery vehicle, taxi or limousine for the owner, whether as an employee or lessee. The criminal background check shall be completed prior to the driver being engaged as an employee or lessee.

B. An owner of a livery vehicle, taxi or limousine licensed through the department shall have available for inspection at all times by the department all vehicle maintenance records of all the owner’s livery vehicles, taxis or limousines. Such maintenance records shall be updated at least annually.
Limousine and Taxi Insurance Facts Phoenix, AZ -NV-NM

Almost all states in the nation require limousines carry mandatory liability insurance. Liability insurance protects drivers and owners of limousines and taxis against the cost of damage to other people or their property. Liability insurance covers claims against the policy holder and other operator of the insured limousine or taxi.

Liability insurance usually covers bodily injury (Sometimes known as BI) or property damage ( Sometimes known as PD) for which the covered driver is considered responsible. The minimum amount of limousine insurance coverage that is required may be different depending on the state where the limousine is garaged. Coverage can usually be increased. This will probably result in an additional charge.

Liability insurance for limousines is usually written in two forms. Either a Combined Single Limit or a Split Limit. The Combined Single Limit combines both the bodily injury coverage and the property damage coverage.This means that in the event of an accident, the insured driver will have combined protection for any bodily injury he caused as well as any property damage he may have caused also. The Split Limit separates the bodily injury coverage and the property damage coverage in the event of a loss. The split limit would protect for a certain limit maximum for the bodily injury and another certain limit maximum for the property damage that was caused.

Another very important part of limousine insurance coverage is the Uninsured and Underinsured coverage section of the policy. This provides protection if the responsible person does not have liability insurance or does not have enough liability insurance coverage. If another party were at fault but did not carry liability insurance, the insured limousine would then be covered by the Uninsured portion of their policy. Most states require Uninsured Motorist and Underinsured Motorist coverage for limousines and taxis.

Due to the value of most limousines, most owners will usually choose to purchase a Full Coverage limousine insurance policy. Full Coverage is the name commonly referred to as Collision and Comprehensive coverage.

Collision coverage for a limousine extends protection to the insured limousine for damages to it caused by a collision with another vehicle or most objects. (hitting an animal such as a deer usually falls under the comprehensive portion of the policy ).

Comprehensive coverage for a limousine or taxi extends protection to the insured limousine for damages not considered a collision. An example would be if the limousine or taxi were damaged by vandalism or by a heavy hail storm. Both collision and comprehensive coverage for a limousine or usually have a deductible. A deductible is the initial amount of money the insured is responsible. ( For example: a $500.00 deductible ) After the insured pays this portion of his damage, the balance is then covered and paid for by the insurance company.

There are many other insurance coverage’s and options available to limousine or taxi cab owners. To be sure you have the right protection at the best price available give us a call.

Livery, Taxi, and Limo Insurance -Arizona

Here are some things to heep in mind when you are starting your transportation company in Arizona.

  • Drivers must have a valid Arizona license, and the vehicle must be properly registered.
  • All vehicles must be covered by an insurance policy of $300,000 or more, depending on passenger capacity. The policy must cover personal liability, property damage, coverage against uninsured motorists and under-insured motorists.
  • Taxis must carry a sealed taximeter, and must post their rates in one-inch letters.
  • Livery vehicles, which are allowed to transport passengers for a flat rate, must post their rates with one-inch letters at least until the passenger has agreed on the fare.
  • Limousines cannot solicit fares. They must be hired in advance.
  • All taxis and Livery vehicles must display an official Weights and Measure sticker in the lower right-hand corner of their rear windshield. Limousines have the option of displaying the sticker, but it is not mandatory.
  • Taxis must have a valid taxi license plate. Many, if not most, have licenses that include the letter “Z” in the plate number, though some may have blue-and-white environmental places, commercial plates, so-called “vanity” plates or handicapped plates. Limousines and Livery vehicles may display commercial or private plates.

If you have any questions please feel free to call me. www.mylimoinsurance.com

Gary Hanson

Professional Insurance Strategies,LLC

Anthem, AZ

602-481-0161

Limo Company Posts Record 1Q Revenues During Recession

April 7, 2009

JACKSONVILLE, Fla. — Dynasty Limousine has bucked downward market trends by posting the best quarterly financials in its 11-year history.

Year to date, revenues are up 11% and March was the best performing month in the company’s history. Dynasty has consistently posted gains in 11 out of the past 12 months and is positioned for another stellar year. The company had gross sales of $700,000 in 2008, and anticipates $1 million if present trends continue.

Its 12-vehicle fleet includes nine stretches and limo-buses, two sedans, and an SUV. Dynasty was a finalist in the 11-30 vehicles category of the 2009 LCT Operator Of The Year Awards contest.

Marketing efforts, spearheaded by Pierce Fleming, vice president of operations, have resulted in a constant flow of new business.

“We simply have not bought into the bad economy mindset,” said Fleming in a prepared statement. “Sure, we must work hard to achieve these results, but the business is there if you do the right things. Many of our competitors have already made up their minds that business is bad, and that makes it much easier for us. It all comes down to attitude. Clients can sense if you are stressed out and pressured to make the sale and it turns them off. We answer the phone with a smile and have a positive attitude every time with no pressure.”

As competitors slash prices, Dynasty has taken a value approach. The company offers different packages and services to add more value to the charters, rather than just cutting prices. The company’s 11 year history and A+ BBB rating have also resulted in a strong repeat customer base.

The prom season, which lasts through May 23, seems to be affected little by the doom and gloom economic forecast, Fleming said. The company received more than 500 reservation requests in March alone and is already booked out for many dates.
Dynasty Limousine also plans to open its second office location in Orange Park, Fla. The company already stores its larger limousines at that high-traffic location, adding to its visibility.

Dynasty will publish a targeted web site and focus marketing efforts from that location to Orange Park, Gainesville, Lake City, Palatka, and Ocala — all cities stretching from the Jacksonville metro region along the northeast coast of Florida into the north-central region of the state.

Dynasty Limousine plans to go public on Nov. 23 on the OTC BB market. So far, it has 51 shareholders and has retained Tiber Creek Corporation to assist with this process.

“Our main reason for taking the company public is to have easier access to capital, and to expedite our expansion efforts,” Fleming told LCT Magazine. “We are experiencing tremendous growth, and the company was up 34% last year.”

Once listed, Dynasty will be the first limousine company in the U.S. to have it’s securities listed on a national exchange, said Fleming, who added that he has researched public companies for many hours. He said he has not found any other publicly held limo companies in the U.S., including listings on Hoovers.

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