Orderlies Insurance – What Kind and at What Cost

Whenever you budget the expenses of your business, Orderlies insurance must be included in the list because you can’t always know exactly what could happen in the future.

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With the protection provided by insurance against accidents and all the other sorts of insurance we will tell you about, you can protect your business and yourself in case something unwanted happens.

Like any business owner, for your Orderlies enterprise, you must consider how much financial risk you are taking on.

Business Insurance for Orderlies

If your Orderlies business runs without proper insurance, you are taking an enormous chance not just of losing some money but of a complete wipe-out.

This is because the laws in every state are very strict in enforcing liability on the owners of businesses for the results of their actions. 

In this article, we are giving very general guidelines for small businesses to highlight what the main kinds of insurance that you need are, and where we can, a rough guide to how much you can expect to pay.

The question is, can you afford to NOT have insurance for your Orderlies business?

What this means, for any Orderlies business owner, is that if some person claims that your work caused them some physical or economic damage, a court can award damages far beyond the total size of your business.

Your Orderlies business is not harbored by laws in the same way as states are, where legislation can place a “cap” on the maximum level of liability.

In some states, like Texas, there are specific monetary levels that limit the amount an adjudicator can award in any case against the state.

In a court case, it’s purely the duty of the jury to award whatever amount they deem appropriate, even sometimes giving a person more than they have claimed.

When you are running your Orderlies operations, you can’t escape responsibility for the results of your actions.

Even more importantly, unless you have spent up-front the money necessary to have your business running as an LLC, all of that liability belongs to you alone.

What does Orderlies insurance protect you from?

For your Orderlies business, the most important types of insurance are intended to cover the risks to your business from accidents, from unexpected events, and from mistakes.

As well there are some mandatory kinds of insurance that various states require.

In the next few paragraphs, we will outline the most important points any Orderlies business owner should remember when negotiating the insurance needed.

The main categories of insurance for your Orderlies businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.

Liability insurance

General liability insurance

Any Orderlies business is dealing directly with members of the public, and that means you always have the danger that some accident can happen to them personally or else something of theirs can be damaged.

In such a case, they can demand compensation.

General liability insurance policy for your Orderlies business protects you against claims coming from injury to visitors or damage to their property.

It protects your Orderlies business from the claims themselves and as well to any follow-on court costs and legal fees of the lawsuits.

In many cases, it should help you to qualify for extra business from city and state organizations, where contracts demand proper liability insurance.

The normal level of general liability insurance for your Orderlies business would be with a boundary of $1 million for a single submission and a total of $2 million for the whole year.

See the table in the costing section below for average prices of general liability insurance for your Orderlies insurance operations.

Professional liability insurance for your Orderlies business

In the event where a client alleges some negligence, errors, or omissions in how you conducted your Orderlies business for them, you can quickly face a law suit.

Even if the matter against you is decided in your favor, the cost of defense can be substantial, and the impact on your reputation can be damaging.

Every small Orderlies business should have enough professional liability insurance to cover a once-off claim of $25,000, with annual cover of $50,000.

See the table in the cost of Orderlies insurance section below for average prices of professional liability insurance for your Orderlies operations.

Product liability insurance

Whatever goods you sell or advice you give about the goods, you are running a risk that customers may claim that what they received didn’t meet your description of function, or that your advice was basically incorrect.

You need to understand the explicit laws of product liability in your own state.

For example, in California, all businesses in the supply chain can be held responsible for results caused by products claimed to be defective.

To cover yourself against any possible lawsuit, you need Product liability insurance for Orderlies

Only you can estimate exactly how much insurance you must have.

Best advice is to contact experienced insurance agents, brokers or company representatives for guidance.

Commercial insurance

Commercial vehicle insurance for your Orderlies business

Beware! – most policies for private vehicle insurance do not cover any happening like theft or accidental damage when the car is being used for business purposes.

The right way to make sure that your vehicle is insured for both its own value, and the valuable contents, is by taking out a direct commercial vehicle insurance package.

Commercial truck policies insure the value of any vehicle in case of accident, malicious damage, fire, or theft.

Also, in case of any accident, the truck itself, the content and any legal bills, medical expenses, and property damage is covered if your truck is involved in an accident.

Most states, other than Virginia and New Hampshire, insist on this type of insurance.

The required value of the insurance is calculated on the depreciated value of the vehicle, and your declared level of cover of contents. 

Tools and Equipment insurance

Since your Orderlies business needs specific and dedicated equipment, you will realize how much it can cost to replace it in case of any damage, loss, or theft.

The gear may be subject to malicious damage, deliberate fire, theft, other such unexpected acts.

In addition, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can wipe-out your whole business in one stroke.

Unless you can afford to immediately replace such unique gear quickly out of your own pocket, you should have full-level equipment insurance so that you can immediately buy everything needed to keep your Orderlies business running.

It is impossible to advise how much equipment insurance you need – it’s really dependent on how much you have invested in your Orderlies business’ equipment.

Commercial Property insurance

Any Orderlies business that owns or rents space in a building should have a commercial property insurance policy.

If you own the property, you certainly have a substantial capital investment, along with a big liability if there’s a mortgage.

Your physical building location must carry insurance coverage for the value of the premises and contents against natural occurrences like fire and storms, and against deliberate damages like theft and vandalism.

If your Orderlies business works in areas of high risk, like Texas or Georgia, additional coverage may be needed for earthquakes and hurricanes or tornadoes.

In other states like Washington, where extreme cold snaps can cause damage to outer coverings of Orderlies business premises, there is a need for more supplementary cover than in warmer climes.

Whereas the level of cover depends entirely on the value of the property, it’s not possible to say what cover your need, but we have been able in the table in the cost of Orderlies insurance section below to give some indication of the average prices per million dollars of property insurance for your Orderlies business.

Temporary insurance by month, week or day for your Orderlies business

Is your Orderlies business working part-time or casually, or is the level of business fluctuating?

Using short-term insurance makes excellent sense. Business insurance by the month, day, or week – temporary insurance for Orderlies – are special policies where you can cover a designated period when you want to be covered.

By only paying for that period of cover, you will save by having less premiums but still having the same risk cover.

The essential feature of short-term insurance is that you purchase the cover for a defined period – a nominated date, or a week or month starting on a specific date, for example for 30 days beginning on the specified date.

When you are expecting periods of better business activity, get the existing cover raised.

Talk to your insurance agent, broker or the company’s representatives to see what options you have.

Business Owners Policy BOP for your Orderlies business

You have the option to combine several of the important kinds of small business insurance in one policy that is known as the business owner’s policy – BOP.

A BOP merges commercial property and public liability insurance by amalgamating these coverages into one insurance policy, which can save you money.

BOP insurance will protect you if any claims of injury or property damage are made.

It is often the right choice for small and medium-sized Orderlies businesses, such as yours.

There are some limits that will rule whether BOP is suitable for your own business.

BOPs will not cover your professional liability or commercial vehicle policies.

Also, the size of your business will rule whether you are allowed to take out BOP cover.

The usual business that is allowed to take a BOP policy must have no more than one hundred employees, and maximum five million dollars in annual turnover.

In addition, you must separately take out the necessary worker’s compensation, health and disability insurance as determined for your state.

Workers Compensation insurance for your Orderlies business employees

In almost all states, it is mandatory to have workers compensation insurance when your Orderlies business has one or more employees.

Workers compensation insurance covers the enterprise against any costs that arise if a worker experiences an injury or becomes sick as a result of work.

The benefits include medical expenses, death benefits, lost wages, and vocational rehabilitation.

Failure to meet a state’s laws in this regard can leave you as the employer having to pay penalties levied by the states.

Some states, such as North Dakota, Ohio, Washington, West Virginia, and Wyoming only allow coverage from the government-run monopoly state funds.

In these states, you cannot obtain your workers compensation obligations from private insurance companies.

Workers compensation charges are computed based on the employee’s pay, and usually come out at around $1.00 per $100 per month.

However, you must consult the relevant authorities in your state.

Average costs of these types of insurance

Although every Orderlies insurance level is unique, there are enough examples of standard quotes from insurance companies for us to give appropriate guidelines, including what are the cheapest rates offered.

Of course, you should always check with an insurance representative what’s relevant for your business.

The list below is of annual premiums we have collected for the main types of insurance your Orderlies businesses needs.

Types of insurance Price range
General liability insurance $670 – $1280
Product liability insurance $260 – $780
Commercial vehicle insurance $1525 – $3285
Commercial insurance $880 – $2615
Public liability insurance $285 – $640
Equipment insurance $325 – $1430

Cost of insurance for your Orderlies operations depends on many different factors.

We have estimated these figures for small freelance Orderlies businesses.

In larger states like New York, premiums are generally about 20%-30% higher than national averages, whereas in smaller states like Oregon, they usually are about 20%-30% lower.

The location and size and type of your Orderlies business can have a big effect on the cost of different policies.

You should consult with professional insurance agents and brokers, or insurance company representatives.

Also you can let the internet do the work for you by looking for insurance companies near where your business is located.

Another good source of information is the local Better Business Bureau in your city.

FAQ

What is small business insurance for Orderlies operations?

This is a general term used to describe standard insurance policies designed to protect Orderlies business owners from risks like bodily injury, property damage, claims of negligence.

Does my Orderlies business have to have insurance?

Some of the forms of insurance are not mandatory for you to operate your business, but they can protect you from risks in your business operations.

Several other forms are required by state law, such as workers compensation and vehicle insurance.

What does a small Orderlies business insurance policy cover?

Liability insurance provides protection against lawsuits or claims filed by a client for bodily injury, property damage, or negligence.

The specific cover will vary based on your own operations.

See the table in the costing section above for average prices of the best policies for Orderlies insurance.

How much will Orderlies business insurance cost?

In addition to the size of the business, several other factors, such as location and claims history, are used to determine your policy’s cost.

You should talk to professional insurance agents and brokers, or insurance company representatives.

You can search for more information insurance for Orderlies, in the search box below, and follow the relevant links.

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