Property Insurance

Understanding Property Insurance

Property insurance protects your transportation business's physical assets from damage or loss due to covered perils such as fire, theft, vandalism, and certain natural disasters. For transportation businesses, property insurance is essential to protect facilities, equipment, and other assets that support your operations.

At InsureLimos.net, we specialize in providing property insurance tailored to the unique needs of transportation businesses, including:

Limousine services
Taxi operations
Transportation Network Companies (TNCs)
Non-Emergency Medical Transportation (NEMT)
Bus and motorcoach operators
School bus contractors
Sprinter and van services
Medical day care transportation

Why Property Insurance Is Essential

While auto insurance covers your vehicles, property insurance protects the other physical assets your transportation business relies on. Without adequate coverage, your company could face significant financial losses from:

Damage to owned or leased buildings
Loss of business personal property
Damage to specialized equipment
Business interruption due to property damage
Extra expenses to continue operations after a loss
Loss of valuable records and data

What Our Property Insurance Covers

Our property insurance provides comprehensive protection for transportation businesses:

Building Coverage

This coverage applies to buildings you own or are responsible for insuring, including:

Office buildings
Garages and maintenance facilities
Storage buildings
Dispatch centers
Passenger waiting areas
Permanently installed fixtures and equipment
Outdoor signs attached to buildings

Business Personal Property

This coverage applies to property you own, lease, or are responsible for that is not part of the building structure, including:

Office furniture and equipment
Computers and electronics
Communication systems
Maintenance tools and equipment
Spare parts and inventory
Customer property in your care
Tenant improvements and betterments

Business Income and Extra Expense

This coverage helps replace lost income and pays for additional expenses when a covered property loss disrupts your operations:

Lost Business Income: Replaces income lost due to necessary suspension of operations.
Continuing Expenses: Covers ongoing expenses that continue despite business interruption.
Extra Expense: Pays for additional costs to continue operations after a covered loss.
Extended Business Income: Provides coverage during the period after repairs are completed but before income returns to normal.

Equipment Breakdown

This coverage protects against mechanical or electrical breakdowns of covered equipment:

HVAC systems
Electrical systems
Computers and phone systems
Security and surveillance systems
Maintenance equipment
Diagnostic equipment

Valuable Papers and Records

This coverage protects the cost to restore or replace important business documents:

Customer contracts and records
Accounting and tax records
Vehicle maintenance logs
Driver qualification files
Regulatory compliance documents

Transportation-Specific Property Considerations

Transportation businesses have unique property exposures that our coverage is designed to address:

Garage Operations

Coverage for property exposures specific to vehicle maintenance and storage facilities:

Lifts and hoists
Diagnostic equipment
Specialized tools
Parts inventory
Fuel storage systems
Washing and detailing equipment

Dispatch and Communication Systems

Coverage for critical technology that keeps your transportation business running:

Dispatch software and hardware
GPS tracking systems
Two-way radio equipment
Mobile data terminals
Servers and networking equipment
Backup power systems

Specialized Equipment

Coverage for equipment specific to transportation operations:

Wheelchair lifts and ramps
Fare collection systems
Security cameras and DVRs
Electronic logging devices
Passenger amenities
Specialized loading equipment

Outdoor Property

Coverage for property that may not be attached to your building:

Freestanding signs
Fencing and gates
Parking lot lighting
Security barriers
Landscaping (limited coverage)
Outdoor storage structures

Coverage Options and Limits

We offer flexible property insurance options to meet the specific needs of your transportation business:

Valuation Options

Choose how your property will be valued in the event of a loss:

Replacement Cost: Pays to replace damaged property with new property of like kind and quality without deduction for depreciation.
Actual Cash Value: Pays replacement cost minus depreciation, typically resulting in a lower premium.
Functional Replacement Cost: Pays to replace with less costly property that serves the same purpose when exact replacement is not necessary.
Agreed Value: Eliminates coinsurance penalties by agreeing on the value of property in advance.

Deductible Options

Choose from various deductible levels to balance premium costs with out-of-pocket expenses:

$500 deductible
$1,000 deductible
$2,500 deductible
$5,000 deductible
$10,000 deductible
Custom deductible options for larger operations

Additional Coverage Enhancements

We offer several endorsements to enhance your property protection:

Ordinance or Law Coverage: Covers increased costs to repair or rebuild due to building code requirements.
Utility Services Coverage: Protects against losses caused by interruption of utility services.
Spoilage Coverage: Covers loss of perishable goods due to power outage or equipment breakdown.
Earthquake and Flood Coverage: Optional protection against these typically excluded perils.
Data Breach Coverage: Protects against costs associated with data breaches involving customer information.
Business Income from Dependent Properties: Covers losses when a supplier or customer property is damaged.

Business Owners Policy (BOP) Option

For eligible transportation businesses, we offer a Business Owners Policy that combines property coverage with general liability for potential premium savings. A BOP typically includes:

Building coverage (if you own your facility)
Business personal property coverage
Business income and extra expense coverage
General liability coverage
Electronic data coverage
Employee dishonesty coverage

Risk Management for Property Protection

We provide comprehensive risk management services to help you protect your property and reduce claims:

Fire Prevention

Fire is a significant risk for transportation facilities. We provide guidance on:

Fire detection and alarm systems
Sprinkler systems and fire suppression
Fire extinguisher placement and maintenance
Flammable materials storage
Electrical system safety
Hot work procedures
Emergency evacuation planning

Theft and Vandalism Prevention

Protect your property from criminal activity with these measures:

Security lighting
Alarm systems
Video surveillance
Access control systems
Fencing and gates
Key control procedures
Security guard services

Water Damage Prevention

Water damage is one of the most common property claims. We provide resources for:

Roof inspection and maintenance
Plumbing system maintenance
Proper drainage systems
Water detection systems
Freeze prevention measures
Emergency response planning for water damage

Business Continuity Planning

Prepare for property losses with comprehensive business continuity planning:

Critical function identification
Backup facility arrangements
Data backup and recovery
Emergency communication procedures
Vendor and supplier contingency plans
Employee roles during recovery
Regular testing and updating of plans