Key Risk Management Measures for Valet Operations

Are you aware of what areas you need to review your risk management measures? The valet industry has very unique risks and therefore requires industry specific protection. Incorporating plenty of accident prevention techniques will help to safeguard your company. 

Safety & Security

Parking rules and regulations regarding safety and security include: 

  • A secure storage and handling of cash, keys, and vehicles
  • Safe work environment for all employees
  • Strict driving policies for employees 

Cash and  keys should be secured by a valet key box or stored inside a lockable valet podium. In addition, the vehicles must be locked after they’ve been parked.

Employee Management

Strong hiring practices go a long way towards making employee management easier. Be sure to check driving records, references, and administer integrity or honesty tests with applicants. 

Do you have an adequate training program for your employees? Though many rules and regulations may seem obvious, you’ll avoid a lot of headaches and potential liability issues with quality training. Providing employees with written, class, and/or on-site training. Topics that are worth covering consist of: 

  • Safe driving habits
  • Maintaining a safe working environment
  • Reporting unsafe conditions to management
  • Appropriate cash handling
  • Customer service standards

Proper Coverage 

It is required to maintain general liability insurance (min. $5,000,000), garage keepers legal liability insurance (min. $1,000,000), and workmen’s compensation insurance (min. as required by state law). 

Be cautious of what your specific coverage needs are; valet companies are exposed to heavy liability.  Consider additional coverage for potential coverage gaps, as the three aforementioned policies aren’t all inclusive.

Do you have the necessary professional procedures in place for settling claims? You should be equipped with a claims adjuster and professional claim forms that customers can use at all your locations. Create written procedures for customers and employees to follow if anything were to happen.

Customer Service

The valet service is typically the first impression that a customer will receive when they get to a venue so a professional and courteous demeanor should never be overlooked. 

All employees should be well aware of customer service standards and procedures. Provide written material for reference after training. 

Employee appearance is also essential to service standards. Your employees should  be dressed to reflect the company image and the quality that accompanies it. It is best to have a professional uniform that makes them easily identifiable to customers, and mandate an appropriate grooming standard  that employees follow to look the part.

About Daniels Insurance, Inc.

At Daniels Insurance, Inc., we have a unique understanding of the risks that businesses like yours face on a regular basis. With the backing of our comprehensive coverages and our dedication to customer service and quick claims resolution, your business will be fully protected. For more information, contact us today at (855) 565-7616