Luxury Coach & Transportation

January 2017

Magazine for the professional limousine, charter and tour industry.

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Page 49 of 93

46 LIMOUSINE, CHARTER & TOUR JANUARY 2017 WWW.LCTMAG.COM LCT EAST: SAFETY & INSURANCE FAST, AFFORDABLE WASH-BOTS SAVE TIME AND MONEY Bitimec is the leader in single brush bus washing equipment. Advanced, aff ordable, power-brush systems deliver positive ROI to transit fl eets worldwide. The 15sq.ft. machines can be tucked out of the way when not in use. A Single Operator Can Wash a Bus in 6-8 Minutes World's Largest Selection of Models • $400 to $700 per month buys the wash muscle of 4-5 detailers. • Used by industry leaders such as Windy City Limos, AJL, Flyte Tyme. • World class; the best-selling line on 5 continents. phone: (877) 637-1900 email: and many factors go into determining rates, such as what things will cost in the future." She explained she has seen med- ical costs increase, and noted today's ve- hicles are more expensive and cost more COMPANY CULTURE DETERMINES THE BEST RATES Operator A • Carries a larger deductible to help minimize claims frequency and overall cost of insurance. • Comprehensive driver hiring criteria inclusive of accepting MVR guidelines. • Enhanced safety and loss control efforts inclusive of the latest technology web-based technology. • Driver recognition program that helps to retain good drivers and reduce turnover. • Consistently low loss ratio (loses divided by premium) and low claims frequency. Operator B • Purchases the lowest deductible available. • Minimal consideration toward unacceptable MVRs. • Outdated safety handouts, videos, or driver meetings with no accountability for learning. No recognition program with a high turnover rate. • Higher loss ratio levels and frequency of claims (frequency breeds severity). to repair due to the amount of electron- ics — all factors insurers consider when writing policies. The panel agreed another risk fac- tor centered on the chauffeur shortage and older drivers. For example, Mush- orn pointed out drivers over age 70 have more accidents than the 25 to 29-year- old driver pool, and the high turnover rate of chauffeurs are factors in increas- ing accidents. Running A Safe Company Pays Off Operators who commit to consistently running a safe company will maintain their rates or see the smallest rate increas- es. That common sense logic shouldn't be news to anyone in the limousine busi- ness. Here are some tips, strategies, and best practices that can help you run a safe operation, reduce your claims, and present your company to agents and in- surers as a good bet to obtain an afford- able policy: "Your best defense is to be consistent and follow safety policies that will help you in the long run," Wiltgen says. The panel also suggested operators install vehicle cameras and tracking sys- tems that can work to their advantage in a disputed claim. "At the end of the day, it's always been true good operators pay less then bad operators," Ackerman said. Marroccoli

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