What Is Valet Parking Insurance?

Technically, valet parking insurance is a type of motor trade insurance specifically designed for businesses to drive, move, park and store customers vehicles also known as having custody or control. Vehicles are not limited to cars and can include vans, lorries, bikes and HGV’s.

If you operate a valet parking service it is essential you have a relevant valet parking insurance policy. This includes if your venue has contract out the service to a valet parking firm on your behalf.

We can cover both meet and greet as well as park and ride valet parking services. Usually park and ride is restricted by a radius.

Valet Parking Insurance Suitable Businesses

Entertainment

• Nightclubs
• Restaurants
• Hotels
• Theatres
• Casinos

Events

• Wedding
• Festivals
• Parties

Car Parking Valet Insurance Components And Add ons

Valet car parking insurance is a motor trade policy, however can be built in to other policies such as nightclub insurance or event insurance. A parking valet insurance policy may include:

Road Risk Parking Service Insurance

Road risk insurance will cover a car jockey when driving a customer vehicle on the road. Road risk has three levels of cover, comprehensive, ‘third-party, fire and theft’ and ‘third-party only’, more can be found out about road risk insurance here.

Static Parking Risk Cover

Customers personal car insurance may not cover cars when parked by valet services, it is imperative to have static parking risk. In 2016, many cars were crushed in a car park, this could be a costly event for a car valet parking company.

Employees Liability Cover

Employee liability insurance will cover your valet parkers as well any other staff you employee. To financially insure your employees against illness, death and injury an employee liability insurance is required by law. By employing a single employee you need £5M cover. The fine for not having employee liability insurance is £2.5K for everyday without cover.

Public Liability Insurance

Parking cars is lower risk than other trades, however there is still risk involved. Parking could still cause a member of the public to be injured or their property to be damaged. For example, if you ran over someone’s shopping whilst parking you’re business may be liable for this cost. Public liability insurance may cover this if found an accident.

Valeting Tools & Equipment Cover

Providing customers with the option to have cars cleaned whilst the vehicle is parked can be a nice touch to the service. Tool insurance covers, any tool kept on-site or in a work vehicle overnight.

Single & Multiple Business Premises Insurance

Cover your business location and office for less by combining you business premises insurance within your car valet insurance.

Flexible Customer Vehicle Insurance Limits

Having flexible customer vehicle insurance limits allows you to only insurance as much as you need. For instance if you have a car park which can hold 20 cars, then you could reasonably put in a 25 car cap. On contrast airport parking services may have 100’s of cars at once.

Directors Social, Domestic and Pleasure Use 

Having your own business can be tricky to have clear boundaries on items used solely for work. That’s why with our valet parking insurance quotes, there will be an option for social domestic and pleasure uses of the vehicle.

Levels of Cover

Third Party Cover

Third party will cover damage cover to a third parties property which is not the vehicle being handled by the car jockey.

Split Indemnity

Split indemnity will cover half the cost of a claim. The indemnity pay out is split between the policy holder and the insurance claims company.

Comprehensive

Covering a car jockey against all potentially issues to the highest level would be a comprehensive cover.

How To Get Cheap Car Jockey Insurance

Years trading

Simply, the longer you offer a car jockey service, the cheaper the insurance gets, as more experienced businesses are less likely to have accidents.

No claims discount

Acquiring a strong no claims bonus is another great way to reduce your premiums. If you have a personal use car or van, this may make you eligible for a discount.

Being Under 25

Under 25’s are statistically more likely to have an accident. If you only employee car jockeys over 25 you are likely to be rewarded with a cheaper car jockey insurance policy price. Businesses should ensure there insurance will cover them before employee any car jockey under the age of 23.

Types of Vehicles Parked

Some parking businesses may only ever park certain vehicles due to car parking height restrictions. If you know you will not park lorries, HGV’s or vans, you should get a policy to reflect this as it will reduce your premium.

Level of Security At Your Premises

Depending how secure you car parking location is, will have an affect on your insurance policy. Simple improvements can be to install CCTV and or having lockable gates.

Location of Business Premises

Like with many insurance policies, location will affect the policy’s cost as areas with higher rates of crimes or claims will be more expensive.

Paying in advance

Paying for a whole years cover rather than monthly or quarterly is likely save some money on your renewal price.

Shopping Around Before Your Motor Trade Insurance Renewal

The earlier you look for a renewal price, the more likely you will receive a better quote from the underwriter. Looking around earlier than 30 days will likely mean some insurers will not provide a quote.