A Short Guide To Valet Insurance

Valet parking has grown significantly in popularity within the past couple of decades. Parking spaces are slowly diminishing more and more and this has lead to more people willing to pay for a service to park their car for them. Unfortunately, this surge in valet parking popularity comes with an increase in the rates of accidents, theft, and vandalism. This is where valet insurance comes in.

Why Is Valet Insurance So Important?

When people think about car accidents, they imagine a fender bender scenario or a violent collision at speed. However, most drivers don’t think about parking lot collisions. Each year, nearly 300,000 accidents occur within parking lots. The chances that a valet will get into an accident within a parking lot are much higher than you would think. This makes insurance vital for every valet service provider.

What Types of Coverage Does Your Valet Service Need?

First and foremost, you need valet parking liability insurance. This covers any injury caused to someone by a valet driver under the policy. Additionally, garage keepers liability may be a good choice to protect all the vehicles parked by the valet company.

Running a valet service can be a great way to make a living but is not without risk. Having good valet insurance can make a huge difference.