Market Report:

The pedicab insurance market has been stable through the end of the 2010 year. Trends indicate stability in 2011, with slight declines in some markets. Although rates vary from Market to Market, overall rates are significantly lower than 2 or 3 years ago.

Availability of coverage: Best markets continue to require well manufactured Pedicabs, experienced operators, maintenance programs, and no modified ( structurally ) pedicabs. Coverage is available in most markets, however 'home-made' or imported pedicabs often have higher premium starting points. Theft and physical damage is offered reasonably with a liability package

Compliance: Many cities and municipalities throughout the USA are increasing regulation with Insurance being a key component in compliance. Normal requests are $1MM limits BI/PD with Cities added as additional insureds. Many Events are requiring additional insured certificates as well. Make sure your carrier offers this at no or little additional cost.

For More information contact:
1-800-468-5647 Ask for Mike or Taira.