Monthly Archives: April 2017

Commercial Insurance for Non Emergency Medical

Generic auto insurance and general liability policies are not adequate for many business types, and the vehicles they utilize, or services they provide. Very specialized forms of coverage are available, and it’s crucial to find the right policy. This holds true for the very important roles of the emergency and non-emergency medical transport industries.

What is non-emergency medical transport? These companies provide crucial transportation and assistance for elderly individuals, as well as those combating a range of disabilities, illnesses and physical or mental health conditions.

As opposed to a taxi service, which would be woefully unable to help, or an ambulance, which only provides emergency transportation, non-emergency medical transportation serves that area in between. This is when careful assistance and unique capabilities are required, but there is no pressing emergency.

Think about how this type of vehicle and business faces a unique set of circumstances and risks. They are providing cared transportation for individuals who may be in wheelchairs, have a range of medical conditions, and more.

There is also a range of specialized equipment being utilized, and typically there is training involved to help operate it, and provide the core services to the individuals being transported. They may be hired on a one-off basis, or may provide recurring transportation and assistance to clients, and could operate as their own business, or as a contracted service via a nursing home or care center.

Of course, emergency transportation services also require their own insurance coverage, too. This is increasingly becoming a privatized area in certain locales as the world of healthcare continues to shift.

Another niche industry which provides a specialty service with unique vehicles and sets of risks is that of environmental hazard transportation, cleanup and removal. Once again, a commercial insurance policy for this type of business must be tailor-made to the very unique circumstances, specifications and risks being encountered.

These are only a few examples of specialty vehicles and niche industries where very specific forms of commercial insurance come into play. Generic liability policies simply are not up to the task. They won’t protect the business owner or the business in an appropriate manner, and that could come back to haunt them down the road.

As always, it’s important to work with a qualified and experienced individual who knows the ins and outs of these different industries, and the forms of insurance coverage designed for them. Find a policy which is tailor-made for your business, no matter how niche or different you think it may be.

Importance Of Commercial Insurance

When you have a business, it is very important that you are well equipped in every aspect of your business. If your business requires a lot of travel and transportation, then it is very important for you to have commercial auto insurance. By getting commercial auto insurance, you’ll be able to insure the cars that you use for your company. An important aspect of getting insurance for your company cars is getting commercial insurance quote.

It is very important to have car insurance for all of your company cars, aside from mandatory in most areas. Businesses big and small alike are using cars for their transportation all the time to travel to different places and talk about their services or goods and also for personal use by the senior employees.

No matter what size or kind your business is, you need to have commercial car insurance so that your car will be covered if ever it gets into an accident. Having insurance for your company cars can save you lots of money if ever an accident occurs, and it also saves hassle on your part as well.

You need to get at least the minimum amount of car insurance for your commercial car that your state requires. You can choose to add on to this insurance by getting additional coverage such as uninsured drivers’ coverage and collision coverage. This way, you will have a bigger plan that will cover more possibilities.

When looking for commercial insurance, you should check out the internet for different quotes so that you know what companies offer the best plans at the best rates. The rates will also depend on the location that you will be driving in due to the theft rates of the area as well as the usual costs for repairs, and the driving record of the people who will be driving this car.

By getting quotes online, you can easily budget your money so that you can get a great insurance plan for each of your company cars. If any of your cars get damaged or stolen, then you won’t have to shell out tons of cash to replace it. You will be able to get your car fixed or replaced as soon as possible, and you won’t lose too much with the loss of your car.

Purchasing Commercial Insurance For Your Car

If your business relies on its drivers and transportation services to function, choosing a commercial insurance company is a decision that affects more than just you. It can also affect the future of your business, as well as the employees who currently work with you. The wrong choice can mean the end of your livelihood if you don’t choose correctly.

Definition

Put simply, commercial insurance is a type of health coverage for medical expenses and disability income for your company. It can be used by any kind of business, ranging from the small business that only has one car for deliveries to the auto dealer with an entire fleet of cars. Even construction companies or landscaping companies who own a dump truck can use it. If any of your traveling vehicles is involved in an unexpected accident, you’ll certainly need this kind of coverage.

Types

No matter what your business needs are, there is a commercial insurance package that can be right for you. A good agent can help you select a policy based on your business’s needs. The most common kind of coverage is owner operator insurance, which is also known by the abbreviation OOIDA. Owner operators who are part of the trucking industry often use this particular option.

If you drive a van for delivery purposes, you may need a special type of commercial insurance designed just for you. Some available policies are for people who deliver packages, flowers, newspapers or other items. Additionally, these policies can even cover you if you are in a for-hire industry and transport people from one place to another.

Determining Your Needs

You may wonder what criteria make it necessary for you to have a commercial policy versus a traditional auto policy. A general rule of thumb is that if you need the vehicle for job-related tasks besides just going back and forth to work, a traditional policy may not be enough. Alternately, if you transport goods or people for a fee or if you need your vehicle to conduct deliveries or other services, you should probably consider some kind of liability coverage. In addition, if you frequently must ask employees to operate a vehicle, or if you haul heavy equipment or tools, a business policy is usually the answer.

Coverage

Commercial insurance has very similar coverage to a personal policy. For example, it is usually as customizable as your personal auto policy, and it typically consists of many of the same elements, such as collision, liability, medical payments, property damage, and physical damage. However, it tends to vary from your auto policy in terms of definitions and exclusions.

Understanding Commercial Insurance

It seems like everyone loves to ride share these days — except the traditional cab companies, of course. Whether you’re the one using an App to request a ride to your destination, you’re the driver making some extra cash by participating, or the huge companies who are at the forefront of the movement, many different people are involved and taking part.

One of the biggest issues at hand here though is commercial insurance for these drivers and their vehicles. Does a driver need to purchase his or her own commercial policy? Does the company need to provide him or her with that? Do personal auto policies apply? Do the same regulations which are in place for taxi cabs apply?

This has been difficult for just about everyone to figure out. That includes lawmakers and legislators, the general public, the traditional taxi cab companies, the ride-sharing companies themselves, and the people offering their rides to be shared.

Clearly, a personal auto policy doesn’t seem to be an appropriate fit here. But does a full commercial insurance policy make sense? Do the extra costs of that make it worthwhile to be offering ride sharing to begin with? What is the responsibility of the ride sharing company for whom you’re working?

Not all of these questions have been solved as of this time. This will continue to be a hot topic of discussion, debate, and even legal entanglement, likely for years.

However, one important development here is that the state of California has a new bill in place that ride-sharing drivers must carry commercial insurance of $50,000 per injury in an accident, up to $100,000 total, and up to $30,000 in property damage coverage. This coverage applies when they are en route to pick up a passenger, which means it kicks in when the driver has received a request and is currently in transit to pick up that passenger.

When the passenger is being driven in the company, some companies, such as Uber, provide additional coverage. Uber currently provides $1 million of liability coverage per incident, $1 million of uninsured motorist coverage, and $50,000 of comprehensive and collision, and $50,000/$100,000/$25,000 of contingent coverage.

This is only one of the very first dominoes which will be falling in this industry though. It’s crucial that you stay informed with the latest news, trends and developments if you’re a ride sharing driver, thinking about becoming one, or are otherwise involved with a ride sharing company. For any questions, get in touch with an insurance company or broker who is familiar with commercial vehicle insurance, the emergence of ride-sharing companies, and the regulations in place in your local area.

Commercial Insurance Guide

Having commercial insurance protecting your business is critical and knowing the different types of coverages available is essential to lowering your cost. Professional liability coverage (aka Errors and Omissions insurance) is a form of insurance that protects businesses that offer advice and services to others. A common form of errors and omissions that gets a lot of attention on TV and the news is medical malpractice. This type of professional liability insurance policy is designed to protect doctors and other medical professionals if harm should come to someone who takes their professional advice and suffers as a result.

Another important form of protection is called business interruption insurance. If you have ever been through a hurricane or an earthquake then you know that it’s not just the catastrophe you need to worry about, but sometimes what happens after. To help you solve the problems that can arise when you are trying to rebuild your business by helping to replace the lost income and paying your normal expenses is what business interruption insurance is designed to do. Some policies may cover extra expenses you can have when trying to get your company back on its feet, but be sure to check your policy for the exact details.

The most frequent coverage needed by small businesses is commercial vehicle insurance. Most personal insurance policies will not cover accidents that happen to vehicles that are being driven while conducting services for the company and are the reason small businesses must get commercial auto insurance to protect their assets. If you don’t have commercial coverage and your company vehicle is involved in an accident you will not be covered. Commercial auto insurance has a range of options, just like personal auto insurance. The first step in getting commercial auto insurance at an affordable rate is to decide what policy options you will need.

While automobile insurance is often unavoidable and necessary, business owners are concerned with the rising cost that they are forced to pay. Many small businesses live in fear when it comes time to shop for their insurance that they will be taken advantage of. Trying to find the best price for your commercial insurance needs is not as difficult as people might think. Prices vary greatly from company to company, so to get the best deal possible, you should shop around. A great first step is shopping online and getting a list of brokers and companies that specialize in commercial business insurance.

Also consider raising your deductible on your policy as this will have a major impact on the price of your policy. The deductible is the amount of money you must pay before the insurance will start paying claims. The higher deductible you have the less you will have to pay in premiums each month. You should also ask you agent about multiple car discounts if you need to cover several vehicles.

While commercial insurance is often unavoidable, knowing the different types of coverages that are available on the market to help protect against loses is a big first step in not only protecting your company, but also lowering the cost of your coverage. By shopping online and following a few important tips you can be sure that you will receive the best possible rates on your next policy.