Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions when working with American Business Insurance to find you the best quote to match your business needs. 

  • Do your vehicles have lifts or ramps? 
  • Do your vehicles include backup cameras? 
  • Are the majority of your trips for passengers ambulatory or non-ambulatory? 
  • Do you contract with LogistiCare or other providers with strict insurance requirements?

Insurance companies ask these questions to ensure you are fully covered under your policy. At American Business Insurance Services, Inc., we guarantee the most thorough coverage for your large fleet. Furthermore, we have trained professionals who will take care of everything, and will guide you through the process of properly insuring your NEMT fleet most efficiently!

Why You (the Paratransit service/agency) Need Full Coverage

Having the proper paratransit or NEMT insurance is critical to operating a successful transportation business. The services that paratransit automobile fleets accomplish for those in need is truly life changing and deserves insurance that is equally up to par.

Moreover, the reason you (the Paratransit service/agency) need NEMT fleet insurance is to ensure the safety and reliability of your paratransit service company, protecting your passengers and your business.

Paratransit/NEMT Insurance at American Business Insurance Services, Inc.

paratransit service

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients because we want them to know they are at the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time, and of the highest caliber. In addition, we use only the best practices in the industry through our stringent processes and systems that let you operate your California paratransit service company with confidence.

Furthermore, most agencies take days or even weeks to process a vehicle or driver change on your Paratransit policy. At American Business Insurance Services, Inc. we have a fast, easy, and user-friendly online customer portal that you will love. Our state-of-the-art agency portal allows you to manage your NEMT business 24 hours a day, 7 days a week. With this portal, policy changes can be made online at any time – day or night. This is essential in running a business that also operates 24/7.

We promise to do the leg work for you. We have built strong long term relationships with our carriers of paratransit insurance in order to find you the best policy to match your business needs. Our 35+ years experience in insuring commercial auto fleets makes American Business Insurance quick and efficient in finding the best carrier options.

Get a quote today!

Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

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Wisconsin Taxi Insurance: It’s Not What You Know, It’s Who You Know

Written by Laura Loftus on Monday, June 24th, 2019

 

Northwoods Cab, LLC began working with American Business Insurance in 2015. At the time, he had 2 cars insured. Now, he services 6,000 trips per month and maintains about 15 taxis on the road at all times.

Finding the right broker to handle your Wisconsin Taxi Insurance is vital. Besides the fact that we’ve been one of the leading providers for those who need Wisconsin Taxi Insurance, we give you more than just an insurance policy.

Currently, we insure over 100 vehicles that require Wisconsin Taxi Insurance and because we have been working with both fleets and individual owner/operators for over 35 years, we have created an easy to use online portal for our customers to service their policies 24/7.

We also provide you with a live, customer service rep dedicated to servicing your policy and answering coverage questions during regular business hours. Choosing us as your broker means choosing a well-educated partner who truly understands your business.

 

Our goal is to keep your vehicles on the road, and your Wisconsin Taxi Insurance active

Aaron Schloemer from Northwoods Cab, LLC in Wasuau, WI has a fleet of about 15 taxi’s on the road. He has been a client of ours since 2015 and says that our online portal helps him to run his business.  Some brokers will require you to send changes to them via email or fax in writing. Then you’ll have to wait days for an approval or ID card. But our portal allows you to make these changes in an instant. Transportation companies often need replacement ID Cards in the middle of the night, need to change out a vehicle at a moment’s notice and switch drivers on their policies with little time to spare.

“We use the online portal and it work’s like a charm. It really helps us. When a cab breaks down, we can go on the portal and easily take it off and put it back on. It doesn’t matter what time of the day or night. Another great thing is being able to add drivers 24 hours per day. It’s easy to use and we use it as a point of reference many times. Say we want to make sure a cab is on, we can log into the portal and make sure it’s there. It makes it a lot easier to run the company having a 24/7 portal.”

Schloemer started Northwoods Cab, LLC about 4 1/2 years ago. He started out in the taxi industry the way many others do, by working for another local cab company in town. After gaining experience and traction, he originally started the business further north in Tomahawk, WI. Soon after, he transferred the business into the Wausau area where they currently service about 6,000 calls/trips per month.

 

Keeping up with the competition

Although Uber has a presence in his area, he says they haven’t affected his business too much because he is able to keep his prices low enough, where riding with him is cheaper than in an Uber. One way he has been able to keep prices down is by hiring his drivers as independent contractors. He pays them 70% of the sales per day, and charges a weekly lease fee.

Northwoods Cab owner Aaron Schloemer with his son at Disney World, in front of the “Cab Garage.” We’ve been servicing his Wisconsin Taxi Insurance policy for the past fours years.

“A lot of taxi cab companies that have contractors pay 50%, and that isn’t enough to have the drivers stay, pay their bills and make a good income,” Schloemer said.

Some people get into the business to become their own boss and they think it will be easy to run once the basics are set up – obtaining Wisconsin taxi insurance, hiring and training drivers as well as holding monthly safety meetings. But, it isn’t always as easy as it seems.

“Don’t do it if you don’t love people and hard work. Don’t do it if you don’t know how to make decisions and handle problems. Because you are going to have problems every day,” Schloemer shared.

Day to day in the taxi business

While operating a taxi company may seem easy enough, there are daily challenges Schloemer faces that he says others should be aware of before starting out in the industry.

“The hardest thing is maintaining the fleet. The vehicles do get beat up pretty quick. It’s essential to our business that we have at least 10 cars on standby, ready to go, in case one should break down.”

Many people would not think of owning and operating at taxi company as a public service. But Schloemer considers it just that.

“Taking care of people and helping people do tasks they might not otherwise be able to get done,” is one of the benefits Schloemer says he enjoys about owning a taxi company. “Without us, they might not be able to get to their job on time or make it to their dialysis appointment,” he said.

How much insurance do I need?

How much insurance you need to purchase will depend on the type of transportation business you have, and where you are operating. Most limousines, black car or private car service business are overseen by the WI DOT and depending on their seating capacities, determine the limit of insurance that is needed.

Insurance limit requirements for limo and black cars with seating capacities (including driver) listed below:

  • 8 or less require $300,000
  • 15 or less require $1,500,000
  • 16 or more require $5,000,000

While Limo and black car limits are more straightforward, Wisconsin Taxi Insurance limits vary by municipality. Below are some of the requirements for Wisconsin taxi insurance by city:

  • Madison, WI – $1,000,000
  • Manitowoc, WI
  • Menomonie, WI – $1,000,000
  • Milwaukee, WI – $50,000/100,000/10,000
  • Sheboygan, WI – $100,000/300,000/100,000
  • Superior, WI – $500,000

 

Above are just some of the state specific requirements. Don’t see what you are looking for? Contact us as we are the Wisconsin taxi insurance experts and know exactly where to find this information so you don’t have to!

We would love to bring down the cost of your current  policy! Request a quote online by clicking here: https://abiweb.com/services/taxicab-insurance/

You can also call us at (800) 980-1950 ext. 4

 

 

 

TNC Insurance: Insure your Transportation Network Company in California

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What is a Transportation Network Company?

Transportation network companies, TNC for short, are companies that fall under the umbrella of ridesharing. Uber, Lyft and DoorDash are the obvious examples of extremely successful TNCs. Any company that hires people as individual contractors and employs a shared-economy type business model can be considered a Transportation Network Company. A Transportation Network Company is required to have TNC insurance.

Since the early 2010s, the TNC industry has taken off at a rapid pace especially in California’s large urban cities. The impact of Transportation Network Companies in cities has resulted in a decline in public transportation in recent years. San Francisco has become ground zero for a lot of the giants that dominate the ridesharing industry such as Uber and Lyft. The next big Transportation Network Company in California could be your business, but first insurance!

TNC insurance

If you’re reading this, you’re probably looking for the necessary information to grow or get your TNC off the ground. One of the most important steps required for your business venture is to make sure your drivers and passengers are protected with TNC insurance. Keep reading to find out how to make sure your Transportation Network Company is properly insured and protected.

Where to start with TNC insurance

Being in the TNC industry, it may be difficult to find the proper broker that is able to provide TNC insurance. Most everyday insurance companies are most likely not willing to insure a rideshare company due to the high-risk nature of the industry. Insurance companies that write specific policies for TNC insurance are generally specialized brokers who focus on this unique marketplace.

TNC insurance

Luckily for you, here at American Business Insurance Services, we have a direct line to brokers that provide TNC insurance. With 35 years of experience insuring a wide variety of corporate auto fleets, we know exactly what these insurers are looking for in order to get you the best policy.

Questions you may have while looking for TNC insurance:

  • Why you need TNC insurance
  • Types of TNC insurance
  • How to prepare for a quote

Why you need TNC insurance

While researching insurance options for your Transportation Network Company you will quickly realize personal auto insurance doesn’t cover commercial use. However, commercial insurance doesn’t cover independent TNC drivers, even while driving for the company. Therefore, you need TNC insurance for your company to ensure your passengers and drivers are covered incase of an incident.

The National Association of Insurance Commissioners, NAIC, have identified three specific periods TNC drivers are not covered by their personal auto insurance.

  • First period: when drivers have signed into the application but have not yet been matched with a customer.
  • Second period: when drivers are on their way to pick up the customer.
  • Third period: when the driver has picked up the customer and is taking them to their destination.

Types of TNC insurance

In addition, there are two different types of TNC insurance coverage. The first being auto liability insurance for your Transportation Network Company. Auto liability insurance is required by law and protects you as well as your business when you’re at fault in an automobile accident.

Depending upon the coverage, most auto liability insurance covers your company from financial losses surrounding vehicle damage and medical bills of the passengers involved. In other words, auto liability insurance will pay for the damage to other people and their property for which you’re responsible. Furthermore, auto liability insurance usually covers the second and third periods of TNC driving listed in the bullets above.

As for the other type of TNC insurance, there is physical damage insurance. The purpose of physical damage insurance is to protect shared company vehicles from damages. Whether the driver was at fault or not.

To elaborate, physical damage insurance can cover damage caused to your vehicle that is out of your control. For example, vandalism, theft, fire, accidents involving animals, acts of nature, etc. Physical damage insurance also covers at-fault damage caused to the vehicle. However at-fault damage is usually only covered when said damage is caused by the scheduled driver.

TNC insurance

If you want to read more extensively about TNC insurance coverage provided by American Business Insurance Services, Inc. click here

How to prepare for a TNC Insurance quote

If you’re looking to establish your TNC as the next Uber or Lyft, there is a lot of preparations to be made before doing so. Insurers need to do an in-depth analysis of your company before being able to provide you with a quote for TNC insurance. Therefore, in the interest of time, it’s best to have made these preparations before contacting the insurer.

TNC insurance

1. Build the app

One of the first things you want to do is make sure your app is properly constructed and optimized for collecting favorable data points. For example, average speed. If you can prove that, on average, your drivers drive below the speed limit, you’re more likely to get a lower quote than if they tended to speed.

Furthermore, insurance companies want to be able to know things such as: when a trip starts and stops, number of miles per trip and duration of each trip. Therefore, it’s beneficial to both you and your insurer if you have built and optimized the app before contacting for a TNC insurance quote.

2. Business plan and projections

For the most part, this is all relatively simple information you may or may not have already put together when looking for investors. This should include things such as your plans for company growth. How you plan on monitoring and enforcing safety/loss control. And Finally, a set plan on how your company plans on making a ROI.

3. Safety and Training

Due to the nature of their business, insurers are going to care a great deal about safety. They are going to want to see that you have the proper rules, regulations and restrictions in place in order for your company to operate as safely as possible. They’re also going to want to know how often you plan on/provide training to your drivers for a variety of different things.

Insurers are going to want to know a lot about your hiring practices. How old are the youngest drivers you’d be willing to hire? How often do you have them background checked? These are all important questions that will need to be answered in order to get the best TNC insurance quote.

4. Financial balance sheet

Insurers are interested in this information because they want to see two things. First they want to see that you will be able to pay for, and continue paying for, the policy they provide you with. Second they want to see that your company will have the ability to stay afloat until you start turning a profit. The latter is mostly due to the fact that many TNCs don’t start turning a profit in their first year of operation.

5. Other information

Finally, insurers want to see information that will lend further credibility to your name. One thing that will help you accomplish this is information on your investors. Not only do insurers want to get to know your TNC, but they also want to get to know the source of the money behind the TNC. Writing bios on company executives and investors is a good way to allow an insurer to get to know your TNC more thoroughly.

Another thing that helps in regard to the lending of credibility to your name is a summary of your terms of service and privacy conditions. This is where you want to show the insurer that you have policies in place to protect your customer.

Guidance for finding TNC Insurance from American Business Insurance Services

While this may seem like a lot of information to gather for an insurance quote. Insurers need to see this information in order to make sure they are able to match you with the best TNC insurance provider and get you the best policy. Furthermore, insurers are looking for long term, mutually beneficial relationships. Supplying them with this information is an excellent way to build a positive and long standing relationship with your TNC Insurance provider.

Here at American Business Insurance Services, we understand the process of launching a TNC. We understand that it takes a lot of time and effort. And we understand the industry. We can be there for you every step of the way to help make sure that you understand too.

If you have questions or are seeking further guidance, please don’t hesitate to contact us via phone or email. We would love to help you get your TNC off the ground and paired with an insurer that’s right for you.

Fleet Insurance for Denver Taxi Companies

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Fleet Insurance for Denver Taxi Companies

Denver is the capital and most populous city in the state of Colorado. Nicknamed the Mile High City as it is almost exactly one mile above sea level. The city draws in over 31 million visitors each year. Over half of those visitors stay  overnight on extended trips. Therefore, tourism is a huge economic driver of the city. Denver boosts countless exciting tourist attractions such as the Museum of Nature & Science, Denver Botanic Gardens, the Kirkland Museum of Fine & Decorative Art, and quaint shopping and dining districts like Larimer Square. The abundance of tourists and businesses in this bustling city require a substantial transportation system to manage.

Along with the metro, bus, and train options, the city has a huge number of taxi fleets. These fleets are responsible for picking people up and dropping them off all over the city – at their homes and offices, at restaurants, shopping malls, airports, and many other destinations.  Some fleets, such as the Denver Yellow Cab fleet, even act as a courier service by delivering important documents around the city for local businesses. Such important services require fleet insurance for Denver taxi companies.

Fleet Insurance for Denver Taxi Companies

Taxi Fleet Insurance at American Business Insurance Services, Inc.

Fleet Insurance for Denver Taxi Companies is a must. In the city of Denver, thousands of people are getting in and out of taxis each day. Moreover, taxi fleets need to protect themselves from the risks of operation. At American Business Insurance Services, Inc., we know keeping your taxis on the road is vital to staying in business. With over 30 years of experience in providing Denver taxicab insurance, our company gives tailored taxi insurance solutions. We have direct access to almost every insurance market for Denver taxi insurance. We provide real advice and tools to limit insurance risk. This service will give you the best chance of having the lowest commercial fleet insurance rates.

From larger commercial fleets with hundreds of vehicles to owner/operator taxi driver insurance, we are able to handle any size fleet of taxicabs you have. In addition, our company also has exclusive relationships with the insurance carriers we write policies through. As a result, we are able to give your Denver taxi company exclusivity that no other taxi agency can offer.

Insurance Benefits We Offer Denver Taxi CompaniesFleet Insurance for Denver Taxi Companies

  • Custom insurance to meet your policy needs.
  • Certificate & Auto ID Card issued within minutes.
  • Online access to make auto & driver changes to your policy 24/7.
  • Tools to help limit insurance risk.
  • Driver dashboard to help you coach and manage your drivers.
  • 40,000 vehicles insured across the country.
  • Affordable prices.
  • Access to multiple markets.
  • We shop the market for you!

Why Taxi Insurance is Vital

Accidents and incidents are a common threat among taxi drivers around the country. A comprehensive insurance plan with American Business Insurance Services, Inc. ensures that your business can continue operating at full capacity. It’s important for every driver to have the proper certification with them at all times while driving. Without that, taxi licenses can be stripped and business will stop. When finding the insurance company that will work best for you, the proper research is essential. American Business Insurance Services, Inc. has 35 years of experience building long-lasting relationships with companies and individuals that trust us with their policies.

How Fleet Insurance for Denver Taxi Companies will keep you in business

Our online portal allows you to access your Denver taxi insurance policy 24 hours per day, seven days per week. Also, we provide tools that can be used to coach bad driving habits. As a result, the better habits your Denver taxi drivers have, the less accidents they will have. If you are coaching driver behavior, this will result in less accidents. Therefore, reduced insurance risk will benefit you as an owner by keeping prices low and protecting your name.

Moreover, the sum of all of our values helps us build a long lasting, valued and trusted relationship. We aim to instill in the minds of our clients, the understanding that they are in the forefront of our business. American Business Insurance Services, Inc. is committed to professional excellence, delivering commitments on time and of the highest caliber. That’s why, American Business Insurance Services, Inc. adopts only the best practices in the industry. It is through our stringent processes and systems that you can be assured your Denver taxi insurance business is in good hands all year round.

Get a quote for your Taxi Fleet by clicking here.

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UBI Telematics: The New Industry Standard

Written by Laura Loftus on September 18th, 2019

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Usage Based Insurance (UBI telematics) products entered the personal auto marketplace some time ago. But it is a new concept for commercial auto policies. Whether you own and operate one vehicle in a small rural town, or a large fleet in an urban area –  insurance companies are always looking for ways to gain more business and limit their own risk. As a result, more and more insurance companies are offering UBI telematics to commercial fleets.

History of UBI Telematics

UBI telematics became popular with the invent of Transportation Network Companies like Uber and Lyft. As these types of companies grew the insurance industry responded by offering more options for UBI telematics. Companies like James River were one of the first to offer pay-per-mile or pay-as-you-drive plans. This got the rest of the world thinking. If Uber and Lyft can pay per mile, why can’t other transportation businesses obtain the same type of UBI telematics?

One reason UBI telematics was more easily implemented for Transportation Network Companies like Uber and Lyft is because the insurance company is not “on the risk” all the time. Most of these drivers carry their own personal auto policies. So, the TNC insurance is only “on” when the driver is logged into the app.

With the popularity of TNCs, it has affected the amount business taxi and limo companies are able to achieve. Traditional companies need to evolve in order to compete against Uber and Lyft. One way to do this, is to lower their costs with a UBI telematics policy.

How Pay-Per-Mile Insurance Works

UBI telematics works in many different ways.  The first is that you are provided with a device that plugs into the OBD port of your car. The device captures and reports mileage automatically to the insurance company. You are then billed at the agreed upon per-mile rate.

Another way mileage is captured and reported to insurance companies is through SDK integration of an app you might be using for dispatching of vehicles.

In the past, most for-hire, livery risks were charged a flat annual rate. It did not matter how many hours you spent on the road. It also didn’t matter how many miles you drove each month. But, now that UBI telematics is becoming more popular, many companies are offering this structure as an alternative.  Additionally, while most of the other personal auto insurance markets may provide this type of pricing structure, most do not capture driver analytics to help you coach and manage drivers.

UBI Telematics from American Business Insurance

As a UBI insurance broker, we are always looking for and creating solutions that are easy for our clients to use. As a result, we have created our own dashboard which captures the trends and habits of your drivers. Some UBI telematics structures actually charge different rates per driver and many will adjust the price mid-term (up and down) based on driver behavior.

Distracted driving is a problem that most UBI insurance brokers are trying to combat. By integrating telematics elements into pricing and policies, we are able to not only reduce the amount of money you are spending each year for insurance but also provide you with tools to limit risk to those markets.

Some of the data UBI telematics products capture include not only miles driven, but also:

  • Hard-braking incidents
  • G-Force of accidents
  • Hard-cornering
  • Excessive speed
  • Following too closely

By carefully managing and coaching drivers of bad driving habits before accidents occur, you keep your loss history low and your premiums lower.

UBI Telematics per Contract

While above options describe UBI telematics for all operations, we can also work with you to limit coverages on a per contract basis. What this means, is that sometimes the City or State will require a minimum auto limit of $100,000. But you want to obtain a contract to transport patients to and from doctor appointments. Most likely, that contract will require your fleet to have a limit of $1,000,000 or higher. Instead of providing you with a quote that increases the cost for the entire policy to $1M limit – we can write a separate excess policy that bills you by trip, or by mile for the contract only.

Another way to limit coverage is if for example your city requires the same $100k limit mentioned above, but you drop off at the airport who requires $1,000,000 while on airport property. Instead of increasing the premium for the policy to be $1M all the time, we can charge less of an increase by endorsing the policy to provide the higher limit while only on airport property.

How Does this Benefit Business Owners?

The secret to any business is operating at profitable margins. By keeping insurance costs low, commercial fleet owners are able to put money back into their business for advertising, newer vehicles, maintenance and repair. Also, driver morale will improve because they will know that their good driving habits will be recognized and, in many cases, rewarded.

UBI Insurance is currently reserved for companies with access to the minimum annual premium of $100,000.  This is not a program for TNC operators, owner/operators with one car and is geared towards larger companies involved with providing services for the sharing economy.  GET A QUOTE

Uber Freight and Commercial Trucking Insurance

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Uber Freight and Commercial Trucking Insurance

In May of 2017, Uber launched one of their newest services Uber Freight. Uber Freight is an exciting, new trucking app that matches vetted drivers with long-haul routes. The app allows drivers or dispatchers to book and confirm routes with the tap of a button. They have the choice to filter the routes they search for by pickup, destination, the offered price, and other factors. Uber Freight is designed to work for carriers of any size. Although, the service is particularly attractive to small fleets and independent owner-operators. In order for trucking fleets and owner-operators to work with Uber Freight they need to have the proper Commercial Trucking Insurance.

 

How Does Uber Freight Work? What are the advantages?

Uber Freight was created with the business model to appeal to smaller fleets and independent truck drivers. Therefore, the app is designed to give more power to operators and solve many problems drivers have with traditional freight brokerage. Before Uber Freight, drivers or Uber Freightoperators would have to make multiple calls to schedule loads. Now the booking process is streamlined. Booking is made simple through the app. As easy as Uber makes it to schedule a car to pick you up on the curb, they make it just as convenient for commercial truck drivers to schedule loads and routes.

Another problem drivers have with traditional methods are delayed payment. The standard for payment is 30 to 60 days, but with Uber Freight drivers can receive payment about seven days after completion. This allows small trucking fleets or owner-operators to continuously operate at full capacity when repairs and other issues arise. A third problem Uber Freight solves is the problem of deadhead miles. Deadhead miles are the number of miles commercial truck drivers drive from the point of unload to the point where their new load is ready to pickup. Uber Freight accounts for this and compensates drivers. Furthermore, the app also features a “Take Me Home”. This setting helps drivers book loads that will take them back home while still earning income.

Uber Freight is still in its beginning years, but with the way they are operating and handling freight brokerage, they are hoping to transform the industry. They are positioning themselves as a drivers first service. They believe that when drivers are empowered and delivery is more efficient all businesses run better. Take a look at the partnership that Uber Freight has with Ocean Spray, and you’ll see how this new service works.

Commercial Trucking Insurance 

As Uber Freight is very much geared towards smaller fleets for the time being, operators need to do all they can to protect their small businesses. We at American Business Insurance Services, Inc. are here to help. Commercial Trucking Insurance or Delivery Insurance is tremendously important to the safety and security of drivers, their freight, and their business. If you are thinking about contracting through Uber Freight, you will have to have the proper insurance coverage. At American Business Insurance Services, Inc. we shop all the currently competitive markets for you. By doing this we can find you the best coverage to fit your specific needs in the commercial trucking industry. 

 

Why You Need Coverage?

American Business Insurance Services, Inc. has identified the Uber Freight business model as one that will likely transform the way the freight delivery industry operates. The seamless Uber Freightadaption of this technology to all types of businesses, that have shipping needs, has allowed for convenience of scheduling, more carrier options for businesses, and expedited delivery.

Our team of licensed brokers are well aware of the coverage you will need as a delivery fleet or owner-operator service. Furthermore, some of the common types of coverage that apply to delivery and commercial trucking businesses are:

  • Auto Liability to protect bodily injury of all parties
  • (Auto)Property Damage to cover damage to property
  • Comprehensive & Collision to protect against most causes of loss to your vehicle(s)
  • Personal Injury or Medical Coverage
  • Cargo Coverage

Contacting American Business Insurance Services, Inc. will guarantee that you are fully covered under a commercial auto policy and allow you to operate your fleet with Uber Freight.

Why American Business Insurance Services, Inc.?

At American Business Insurance Services, Inc., our goal is to build long lasting, valued and trusted relationships. Our mission is to create an understanding with our clients that they are at the forefront of our business. Consequently, we strive to make sure we know our clients business thoroughly to create a true partnership. American Business Insurance Services, Inc. is committed to professional excellence, delivering on commitments on time and of the highest caliber. Therefore, we use only the best practices in the industry. Through our stringent processes and systems we let you operate your commercial trucking or delivery service with confidence.

In conclusion, the Uber Freight business model could transform the way trucking operates and we understand that. As the business changes we at American Business Insurance Services, Inc. adapt with the change to provide the best types of coverage for clients.

To get a quote for your commercial trucking fleet or delivery service Click Here.

 

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American Business Insurance Services, Inc

PERIOD X™ Fleet Management Software with Insurance Built In

Period X™ Quote

What is Period X™ insurance and how does it work to help you manage your fleet?

American Business Insurance Services, Inc. developed Period X™ for fleet owners or individuals that are renting their cars out on a car sharing platform. This applies to platforms such as Turo, HyreCar or GetAround.  This coverage comes with fleet management software through a web-based dashboard at no extra cost to your policy. This fleet management software comes with tools to ensure your fleet is running at maximum efficiency. When managing your fleet that operates through a Transportation Network Company, the coverage is usually provided to the renter through TNC Provider Insurance. It is important for fleet operators to know that insurance is not supplied through TNC Provider Insurance when the car is not rented out. Of course you want to make sure your car is covered at all times. That’s where our proprietary Period X™ insurance coverage comes into play.

 

 

What a Period X™ Insurance Policy Provides

Our Period X™ Insurance policy provides more than the minimum state limits in
almost all 50 states. A comprehensive insurance product to cover fleets that
are being rented out on Peer to Peer (P2P) rental platforms such as the ones mentioned above. Our product is one of a kind. If you are renting your vehicles out on P2P rental platforms PERSONAL INSURANCE DOES NOT COVER YOU for this type of business model.

fleet management

An insurance policy with fleet management software

We didn’t stop at just putting the Period X™ insurance product together, we did a lot more.  Every Period X™ policy holder receives a proprietary device for each vehicle that they insure. This includes a fleet management web-based dashboard to manage your fleet.  It would be one thing just to have proper coverage that nobody can offer, but below are some of the additional services we provide as part of this coverage:

  • Ability to add/delete vehicles online

  • GPS track each and every car at all times

  • Remotely activate a “kill switch” for jeopardized inventory

  • Check billing

  • Access ID cards and so much more fleet management tools

Period X™ is fleet tracking with the insurance built in!

Why we created Period X™ with fleet management software

As usual, the best place to start is always the beginning. To make a long story much shorter, in the beginning there were taxicabs. When taxicabs were the only animal of their kind roaming the earth, life was simple and there was only one period of time. Things were pretty easy. If you needed insurance for a taxicab, you got a taxicab insurance policy that covered that taxi company 24 hours a day, end of story. fleet management software

Then, not too long ago, something called Uber and Lyft came onto the scene.  All of the sudden, things got complicated really fast in the insurance world.  These companies found that if they divided their insurance policy into separate periods of time, and that each period had a coverage limit assigned to it. This made it possible to reduce their exposure (and their insurance premiums) to maximize profits.

Then, we had another new company (HyreCar) facilitating TNC rentals between rideshare drivers that needed cars and vehicle owners who wanted to make money by providing those cars.  The term peer-to-peer rentals was coined.  

A New Problem Arises

Initially, the idea was that personal insurance would cover the party that was renting their vehicle out to the TNC drivers as long as they only had one or two cars. It did not take long for vehicle owners to see that they were netting $700+ a month per car. Seeing such great results, this resulted in the vehicle owners adding more and more cars until they had fleets. Vehicle owners now had 10, 20, or even 30+ cars, which is not covered by personal auto insurance. This issue lead to the need for the Period X™ product to be created since personal insurance doesn’t cover fleets that are primarily used to make money via rental app platforms and especially not TNC rentals.

Napkin math ensued and a new problem emerged: 

“How do I place insurance on my fleet of cars under an LLC or Corp and keep my personal lines insurance pricing?”  

The answer to that question is: Period X™ Insurance!  Our agency was the brains behind this exciting new insurance product. We are now positioned to bring it to the masses! Now, fleet owners who place their inventory on platforms such as; HyreCar, Turo, GetAround & similar peer-to-peer rental platforms have access to a reasonably priced app-based insuranceinsurance product that covers their fleet for only the period of time when the vehicle is not rented out and is being serviced and maintained to ready the car for the next rental.  

There are articles upon articles online in regards to Periods 1,2 & 3 and why they are the way they are. The basic idea is that when a rideshare driver has the rideshare app off, then the rideshare company has no involvement in what that driver does with their car. This results in no insurance for that period of time.  The instant the rideshare app is on and the driver is engaged with it, Period 1, 2 & 3 begins and typically state minimum auto liability limits apply.

fleet management software

 

Breaking down insurance policies divided into separate periods of time:

After the app is turned on and driver is engaged with Period 1, they scan for rides
they’d like to take. The instant the driver accepts a ride, they have entered Period 2. The insurance coverage offered by the rideshare providers increases a bit more to cover incidents that might occur while the driver is on their way to pick up a passenger.

insurance policy

The last (for now) action involved in a typical rideshare exchange is that the driver arrives at the pick-up destination. The instant the passenger(s) get into the driver’s car, Period 3 is activated. 

TNC insurance policy

Period 3 typically involves $1,000,000 of auto liability coverage via the rideshare company insurance policy. This is the riskiest period of time, because any accident occurring during that period fully engages the rideshare provider and all participants involved with that ride.

Period Policies for Commercial Auto Working Together

The “Period 1,2 & 3” policy setup is now the industry standard for app-based transportation companies that offer rides as a service. Now with American Business Insurance Services, Inc. Period X™ insurance coverage, fleet managers are able to go beyond the industry standard. With our Period X™, coverage never slips through the cracks making sure your TNC fleet is protected at all times.

After Uber & Lyft had been around for a couple of years, opportunity-minded people started to notice the great deal of demand for vehicles from drivers who wanted to make money driving for TNC companies, but did not have the means to purchase, lease or finance a vehicle for various reasons.

A few select companies have established a niche in this territory and filled this demand successfully.  These companies didn’t only see this driver need for vehicle inventory in the marketplace. They saw plenty of regular people out there that are not always driving their personal vehicles, or who were interested in purchasing vehicles for the sole reason of renting them out to TNC drivers who needed them. This is an industry that expected to have rapid growth. When creating a TNC company having the proper policy coverage protects your business and livelihood. 

Contact Us For Full Details on Period X™ and our Fleet Tracking Software

We’d love to tell you everything about this program because we’re SO excited about this new product. We can’t just give away all our secrets at once, can we? What we can tell you is that we’re open in most U.S. states, have a full-time I.T. department dedicated to continuously evolving the technology behind this product. Our experienced team of licensed professionals are excited to talk to you about how you can get Period X™ Insurance on your fleet. Give us a call today! Let’s solve your fleet insurance / management problems so you can get back out there and make some money!

Call Today: (800) 980-1950

https://abiweb.com/

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Paratransit Service Insurance in California

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Paratransit Service Insurance in California for Company Fleet of 15+ Vehicles

We all have loved ones, that at one time or another, are in need of consistent medical care. Whether they be our aging grandparents, parents, or even our in-laws- we want the best care for them. But the thing is people are busy. We can’t always find the time to escort our loved ones to doctor appointments and other medical treatment centers. Although, there are ways to make this process a little easier. Many families, hospitals, and doctor offices turn to Paratransit Service or Non-Emergency Medical Transportation (NEMT) providers to fill this need.

paratransit service

The Americans with Disabilities Act of 1990, made paratransit service a daily reality for many Americans with disabilities. By providing transportation for those with disabilities, paratransit services are paramount to the well-being and mobility of thousands of Americans.

California NEMT and Background

In California, the major hubs are Los Angeles, San Diego, San Jose, and San Francisco. There are over 7 million people in these cities. Many of the elderly people living here need transportation to medical centers at all hours of the day. 

Even for those who are fortunate enough to have loved ones to drive them around, it’s not always convenient. Everyone living in these cities knows that traffic is horrendous, finding parking is a nightmare, and a whole day could be filled with a doctor’s visit.

This is when paratransit service or NEMT comes into play. There are many paratransit agencies that operate fleets of 15+ vehicles in California that American Business Insurance Services, Inc. works with to provide the best available coverage. Those seeking transportation are able to be picked up at their specific location and then the NEMT vehicle discharges passengers on request at various hospitals or medical centers. Having the right paratransit fleet insurance is essential in making sure your business and customers are covered in case of an incident. 

When customers are looking to choose a paratransit service or agency to be responsible for their loved ones, they will be looking into the NEMT company to make sure their loved one is going to be safe and protected.  American Business Insurance Services, Inc. provides NEMT insurance to companies nationwide creating customized policies to best serve our clients needs.

How to Decide on Paratransit/ NEMT Insurance For Your Company Fleetparatransit service

There are a lot of factors that go into finding the best insurance coverage for your Paratransit Company’s large fleet. Therefore, prepare to answer a few questions whe