I’m in the Business Professionals of America club and myself along with three other club members are participating in the Small Business Management competition. The scenario is that we have to start and manage a limousine business in Denver, Colorado (we live in houston, texas). We are trying to go all the way with this and so details are very crucial. One of them is commercial insurance. I have tried contacting Geico for insurance quotes, but they want me to give out information that I simply don’t feel comfortable distributing since the business is artificial and I am not of age. Can any one give me an estimate or direct me to one? Here’s the information:
- Four vehicles: 2 regular SUV’s, 1 regular stretch limousine & 1 Hummer limousine
-The location is 80202 (Downtown Denver, Colorado)
*If you have any other information whether it’s a recommendation to another insurance company or whatever that WILL be much appreciated. Thanks!
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How much does a house cost?
It varies.
But, limos are very expensive. Depending on what kind of coverage you want, liability ALONE, is going to run around $9,000 per year. Per vehicle. Physical damage – collision and comprehensive – is probably going to run darned close to 50% of the value of the vehciles, which is why most taxis and limos don’t carry collision and comp.
The insurance company is going to be the Colorado Assigned Risk Fund -due to high losses on this type of business, "regular" insurance companies won’t take it.
Contact the excellent insurance info site for consumers, NAIC, listed at the top of the page here http://www.bcdisabilities.com/bcdisforum/viewtopic.php?p=348#348.
autoinsurance.hotusa.org – I switched to this car insurance from them, cause it gives much cheaper rates in my area.