Party busses are not only an increasingly popular mode of transportation, they’re a party in and of themselves!
More and more people are choosing to hire party buses for important events such as bachelor/bachelorette parties, birthdays, proms, concerts, sporting events, and nights out on the town. Compared to limousines or taxis, they can hold more people and provide a fun atmosphere to help get the party started. For these reasons and more, you can truly have a hot business on your hands when you start a party bus company.
If you are going to start a party bus company, make sure that you get your transportation insurance in order. You can learn more about this specialized type of insurance by following the tips below.
Why Transportation Insurance is Important for Party Bus Businesses
Party bus companies face unique risks on the road compared to other transportation businesses and therefore must be fully covered. Below are 6 key reasons why your party bus business needs comprehensive transportation insurance, as well as some tips to ensure you’re properly covered.
1. People Cause Damage — Especially When Partying
When it comes to transportation insurance, you always need to be ready to pay for property damage.
If someone so much as creates a tear in the party bus seat, you’ll want to be able to get it fixed without it having to come out of your own budget. By having transportation insurance, you’ll have recourse when someone damages something, big and small.
Since partying is when people let loose, you can always expect that damages to your property will occur at some point.
2. There is Always Risk For an Accident
Studies show that 3 million people get hurt in vehicle wrecks each year.
Since auto wrecks are so prevalent, you need to do your due diligence in getting an insurance plan. The same way that you would never hit the road in your daily driving vehicle without insurance, never hit the road in your party bus unless you have insurance.
3. You Need to Protect Yourself From Liabilities in Case a Person Gets Hurt on the Bus
In addition to the potential for property damage, you also need to be aware of the potential for passengers or partiers to get hurt.
Medical bills add up quickly, so you’ll need insurance plans in place that will pay for those injuries. Whether they have a simple ankle sprain or a life-altering injury, your insurance will take care of it.
4. It’s Important to Have Your Own Workers’ Compensation Insurance
It’s vital that you have some insurance that will handle workers’ compensation claims when they come about. If you or one of your employees deals with an injury while on the job, workers’ compensation claims come into play.
When you choose to buy transportation insurance, be sure that it also covers workers’ comp claims.
5. Insurance is Always Important When Alcohol is Involved
Let’s face it — alcohol is always a risk.
Even though drinking when out on the town can be a good time, it increases the risk of damage and injuries every time people drink, particularly in large groups. It’s always important to keep your insurance valid, but especially if alcohol is involved.
6. Insurance is Required by Law
Last but not least, keep in mind that operating a party bus business without insurance is not only risky but illegal. You need to make sure your business is compliant!
Insurance requirements vary greatly depending on your state, type of vehicle, and seating capacity, so be sure to check your local requirements to make sure you’re properly covered and compliant. As an example, in some places, party buses with less than 16 passengers will be required to have at least $1.5 million in coverage, while larger busses that hold 16 or more passengers may be required to carry at least $5 million in coverage.
Types of Party Bus Business Insurance
With all the above risks and requirements in mind, you should invest in comprehensive transportation insurance in order to ensure that your passengers, vehicles, drivers, and business as a whole are fully protected.
Party bus insurance is typically a bundle of different types of transportation insurance, including but not limited to:
– Commercial Auto Liability Insurance
– General Liability Insurance
– Physical Damage/Collision Insurance
– Workers Compensation Insurance
– Liquor Liability Insurance
Other types of insurance may apply depending on the state where you’re based and the specifics of your party bus business, so be sure to talk your options over with a specialized party bus insurance agent!
Party Bus Insurance Cost Factors
Like any savvy business owner would, you’re probably wondering what party bus insurance is going to cost you.
Party buses in the United States spend between $450 and $1,000 per year for $1 million in general liability coverage, on average. The cost of general liability insurance varies depending on many factors such as your business’ location, how many employees you have, your limits and deductibles, the number of passengers you carry, and much more. Plus, you will likely want to invest in other types of insurance on top of general liability insurance.
For a more detailed and accurate price estimate, request a free bus insurance quote today.
Get the Best Party Bus Insurance
Hopefully, you now understand just how important party bus insurance is for your party bus business.
If you are planning to run a party bus business, it’s absolutely crucial that you have comprehensive insurance in place. This is a core component of your business, so do your due diligence and don’t cut corners!
Contact us for all of your party bus insurance questions and needs. We offer affordable rates and go above and beyond to provide exceptional customer service with very quick turnaround times.
With our experienced party bus insurance agents on your side, you can get the party started with priceless peace of mind!