Is your insurance in the same lane as your business?
Driving school insurance provided by NRK-Hogan Insurance.
Teaching new drivers the ins and outs of driving means you are on the road more than you are in the classroom in most cases. When it comes to getting driving school insurance, you need to safeguard your business, your vehicles, your driving instructors, as well as your students. And because the risks of a driving school go beyond that of other businesses, you need coverage that lines up to your needs.
What risks are driving schools up against?
For the most part, the risks that driving schools face most often are those found while on the road. Whether it’s a driving instructor or a student behind the wheel, the chance of getting into an auto accident is present at every turn. Another, less obvious risk, involves your physical driving school property and classroom. For example, a student could fall and be injured while on your property and file a lawsuit. In addition, driving instructors could be held responsible if their instruction or advice results in an auto accident. Also, your fleet of vehicles used to train new drivers could be damaged or totaled in an accident on the road or while on your property. All of these risks unique to your industry need to be accounted for in your driving school insurance policy.
The types of coverage driving school insurance provides.
First and foremost, whether your driving school has one or multiple vehicles, business auto insurance is a must-have to protect your fleet of vehicles. Without it, you risk losing your vehicles if they become damaged or totaled and cannot get repairs or replacements. In addition, general liability insurance covers liability issues related to property damage and personal injury on your business property. Also, professional liability insurance is essential to safeguard your business from claims of negligence, errors, or omissions. There are additional coverages that driving schools can include as well.
Different driving schools call for different levels of coverage.
No two driving schools are exactly the same. The number of vehicles in a driving school’s fleet can range from one to hundreds. The number of driving instructors on staff and their level of experience can vary. And the type of vehicles that driving schools focus on can include anything from cars and trucks to tractor-trailers, motorcycles, and school buses. Each of these vehicles has its own risks associated with them, and can drastically change the amount of coverage needed. No matter what the scale of your operation is, your driving school still needs insurance to protect the future of your business.
The business side of driving schools.
Driving schools are more than a source of knowledge and insight for new drivers, they’re also businesses. And like any business, there are some business insurance coverages that apply to them. For example, cyber liability insurance is important, especially if you take online payments or store client information on your computers, a data breach could put your business at risk. In addition, abuse and molestation coverage needs to be considered to protect your business from sexual assault claims from young drivers. Also, a business owners insurance policy (BOP) combines commercial property and liability in one to offer more protection.
If you own a driving school, you need to have an insurance policy that’s in the same lane as your business. Contact us today to discuss your specific needs.
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