Operations

Insurance Prices on the Rise in Washington

Posted on July 10, 2003 by LCT Staff - Also by this author - About the author

SEATTLE - The biggest issue facing operators in Washington is an across-the-board increase in insurance prices, according to Limousine Association of Washington Vice President Ron Hoeo.

He notes that Insurance companies tell operators that reducing their claims and training their drivers will keep down their insurance rates.

“But, no, that kind of goes out the door,” he said. “In 23 years, I’ve had three claims of less than $10,000, and my insurance is as high as anyone else’s.”

Hoeo is quick to add, however, that insurance prior to this year had not increased for 16 years and that operators realized that some price increase was inevitable.

Washington operators are still much better off than operators in California and Florida when it comes to paying for worker’s compensation insurance.

Hoeo noted that an operator in Washington pays about 19% of a chauffeur’s base salary, excluding tips, for worker’s comp. The employee contributes an additional 7%, bringing the total rate to almost 27%.

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