Valet parking has grown considerably in popularity within the over the past twenty years. Not only has parking space become more limited, but more people who go to restaurants, hotels, and even hospitals are willing to pay a service to park and attend to their cars. On the downside, the rates of accidents, vandalism, theft and other incidents have also increased. If you offer a valet service to patrons, guests or patients, be sure to talk with an agent about your valet parking insurance needs.
An independent agent in the Skyscraper insurance network can help to assess your needs and risks, and supply valet parking insurance quotes from multiple insurance companies for you to compare. Find a local member agent in your area today to ensure that you are properly covered with an affordable policy.
What Does Good Valet Parking Insurance Cover?
The most important concerns with valet parking insurance are liability issues. Given the risks, not only regarding vehicle damage but also lives of drivers and pedestrians, getting the right liability coverage in place is critical.
- General liability: This covers any injury to a person or their property that is caused by a valet attendant. This includes direct injuries caused by the driver striking a pedestrian.
- Garage keepers liability: This covers any damage to any vehicle in the parking lot that is under the care of the valet company. It includes collisions or vehicle theft for any vehicle that is in their “care, custody, and control.”
- Workers compensation: This policy provides medical and disability coverage for valets and other employees for job-related injuries or illness. It also provides some reimbursement for lost wages during recovery.
Rates for valet parking insurance are based upon such factors as the type of business, whether it is operating in a private parking lot or on public property, and whether or not self-parking is an option.
When you contact an independent agent, be sure to inquire about cost saving measures. Independent agents can often browse for discounts from various companies offering the coverage you need. For example, if you have an employee safety program in place, be sure to mention this to your agent in the event that it will help you qualify for discounts.
When you hand your keys over to a valet attendant, you trust that your car will be returned to you undamaged. However, accidents can happen especially when multiple drivers are operating unfamiliar vehicles and trying to do their job in a timely manner. Scrapes, dings or greater damage to vehicles and injuries to drivers threaten the success of any valet service company. All Risks delivers an extensive Valet Parking insurance program and with an A.M. Best “A+” rated carrier targeting a wide variety of classes. Contact our Valet Parking insurance specialists today to learn more about our coverage solutions!
What Does Valet Parking Insurance Cover?
Skyscraper insurance will make sure you have a policy that covers any possible incidents that may occur when a valet functions out of your restaurant. These policies may cover injuries to the driver of the car or others if the car happens to hit a pedestrian. Damages that are accumulated from a car hitting another car, or doors banging the side of a car, will all be covered. The valets themselves may injure themselves as well, but your policy can cover any medical expenses or compensation that they are owed because of the accident.