Whenever you budget the expenses of your business, Patient Transporter insurance must be included in the list because you can’t always know exactly what is going to happen in the future.
Need General Liability Insurance for Your Patient Transporter
Get Your Free Quote
With the protection provided by liability insurance and all the other types of insurance we will tell you about, you can protect your business and yourself in case something unforeseen happens.
Like any business owner, for your Patient Transporter enterprise, you must consider how much financial liability you are taking on.
If your Patient Transporter business runs without proper insurance, you are taking an enormous chance not just of losing some money but of a final wipe-out.
This is because the laws in every state are very strict in enforcing liability on the owners of businesses for the upshots of their actions.
In this article, we are giving very general guidelines for growing businesses to explain 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 Patient Transporter business?
What this means, for any Patient Transporter business owner, is that if some company claims that your actions caused them some physical or economic damage, a court can award damages far beyond the total size of your business.
Your Patient Transporter business is not protected 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 Montana, there are specific monetary levels that limit the amount a judge can award in any case against the state.
In a court case, it’s purely the privilege of the jury to award whatever amount they deem appropriate, even sometimes giving a claimant more than they have sued for.
When you are running your Patient Transporter operations, you can’t escape responsibility for the outcomes 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 as a person.
What does Patient Transporter insurance protect you from?
For your Patient Transporter business, the most important types of insurance are designed to cover the risks to your business from accidents, from unexpected events, and from mistakes.
In addition there are some official kinds of insurance that various states require.
In the next few paragraphs, we will describe the most important points any Patient Transporter business owner should remember when negotiating the insurance needed.
The main types of insurance for your Patient Transporter businesses are liability insurance, commercial insurance, asset insurance and workers compensation insurance.
General liability insurance
Any Patient Transporter business is dealing directly with other people, and that means you usually have the danger that some accident can happen to them personally or else something of theirs can be spoiled.
In such a case, they can require compensation.
General liability insurance policy for your Patient Transporter business protects you against claims coming from injury to visitors or damage to their property.
It protects your Patient Transporter business from the claims themselves and in addition to any resulting 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 require proper liability insurance.
The normal level of general liability insurance for your Patient Transporter business would be with a cap of $1 million for a single event 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 Patient Transporter insurance operations.
Professional liability insurance for your Patient Transporter business
In the event where a customer alleges some negligence, errors, or omissions in how you conducted your Patient Transporter business for them, you can quickly have to fight a monetary claim.
Even if the matter against you is ruled in your favor, the cost of defense can be substantial, and the impact on your reputation can be damaging.
Most small Patient Transporter business should have enough professional liability insurance to cover a single claim of $25,000, with annual cover of $50,000.
See the table in the cost of Patient Transporter insurance section below for average prices of professional liability insurance for your Patient Transporter operations.
Product liability insurance
Whatever goods you sell or advice you give about the goods, you are running a risk that buyers may claim that what you delivered didn’t meet your description of function, or that your advice was basically incorrect.
You need to know the particular laws of product liability in your own state.
For example, in California, all businesses in the supply chain can be held responsible for damages caused by products claimed to be defective.
To cover yourself against any following lawsuit, you need Product liability insurance for Patient Transporter
Only you can know exactly how much insurance you must have.
Best advice is to contact experienced insurance agents, brokers or company representatives for support.
Commercial vehicle insurance for your Patient Transporter business
Be careful! – practically all policies for private vehicle insurance do not cover any occurrence 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 proper commercial vehicle insurance package.
Commercial van policies guarantee 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 insured if your van is involved in a collision.
Most states, other than Virginia and New Hampshire, require this type of insurance.
The necessary 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 Patient Transporter 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 equipment may be subject to malicious damage, deliberate fire, theft, other such unpredicted acts.
In addition, acts of nature like lightning strikes, hurricanes, earthquakes, and other highly damaging natural events can destroy your whole business in one stroke.
Unless you can afford to immediately replace such specific gear quickly out of your own pocket, you need full-level equipment insurance so that you can immediately buy everything needed to keep your Patient Transporter business running.
It is hard to advise how much equipment insurance you need – it’s basically dependent on how much you have invested in your Patient Transporter business’ equipment.
Commercial Property insurance
Any Patient Transporter business that owns or rents space in a building must have a commercial property insurance policy.
If you own the property, you may already have a substantial capital investment, as well as a big liability if there’s a mortgage.
Any physical building location should carry insurance coverage for the value of the premises and contents against natural occurrences like fire and storms, and against man-made damages like theft and vandalism.
If your Patient Transporter business operates 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 Patient Transporter business premises, there is a need for more extra cover than in warmer climes.
Whereas the level of cover depends mainly 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 Patient Transporter insurance section below to give some estimate of the average prices per million dollars of property insurance for your Patient Transporter business.
Temporary insurance by month, week or day for your Patient Transporter business
Is your Patient Transporter business working part-time or casually, or is the level of business seasonal?
Using short-term insurance makes excellent sense. Business insurance by the month, day, or week – temporary insurance for Patient Transporter – are special policies where you can cover a nominated period when you want to be covered.
By only paying for that period of cover, you will save by having reduced premiums but still having the same risk cover.
The key feature of short-term insurance is that you buy the cover for a defined period – a specific 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 higher business activity, get the existing cover improved.
Talk to your insurance agent, broker or the company’s representatives to see what options you have.
Business Owners Policy BOP for your Patient Transporter business
You have the choice 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 integrates commercial property and public liability insurance by amalgamating these coverages into one insurance policy, which can save you money.
BOP insurance will cover you if any claims of injury or property damage are made.
It is mostly the right choice for small and medium-sized Patient Transporter businesses, such as yours.
There are two limits that will rule whether BOP is suitable for your own business.
BOPs do not cover your professional liability or commercial vehicle risks.
Also, the size of your business will determine whether you are allowed to take out BOP cover.
The normal business that is eligible for a BOP policy must have no more than one hundred employees, and maximum five million dollars in annual turnover.
Plus, you must separately take out the required worker’s compensation, health and disability insurance as determined for your state.
Workers Compensation insurance for your Patient Transporter business employees
In almost all states, it is mandatory to have workers compensation insurance when your Patient Transporter business has one or more employees.
Workers compensation insurance covers the operation against any costs that arise if an employee 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 obliged 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 can’t get your workers compensation obligations from private insurance providers.
Workers compensation rates are computed based on the employee’s pay, and usually come out at around $1.00 per $100 per month.
However, you must refer to the relevant authorities in your state.
Average costs of these types of insurance
Although every Patient Transporter insurance requirement is unique, there are enough examples of usual quotes from insurance companies for us to give approximate guidelines, including what are the cheapest rates offered.
Of course, you should always check with a broker what’s relevant for your business.
The list below is of annual premiums we have gathered for the main types of insurance your Patient Transporter businesses needs.
|Types of insurance||Price range|
|Commercial insurance||$1185 – $2020|
|Commercial vehicle insurance||$1990 – $3160|
|Product liability insurance||$280 – $835|
|Equipment insurance||$305 – $1040|
|General liability insurance||$635 – $965|
|Public liability insurance||$320 – $730|
Cost of insurance for your Patient Transporter operations depends on many different factors.
We have reckoned these figures for small freelance Patient Transporter businesses.
In larger states like New York, premiums are generally about 20%-30% higher than national averages, whereas in smaller states like Utah, they usually are about 20%-30% cheaper.
The location and size and type of your Patient Transporter business can have a big effect on the cost of different policies.
You should discuss with professional insurance agents and brokers, or insurance company representatives.
What Are You Looking For?
Choose and Get Your Free Quote:👇️
General Liability Insurance ->
Professional Liability ->
Product Liability Insurance ->
Commercial Auto ->
Workers Compensation ->
Commercial Property ->
Other Business Insurance ->
Also you can let the internet do the work for you by enquiring about insurance companies near where your business is located.
Another reliable source of information is the local Better Business Bureau in your city.
What is small business insurance for Patient Transporter operations?
This is a wide term used to describe common insurance policies designed to protect Patient Transporter business owners from risks like bodily injury, property damage, claims of negligence.
Does my Patient Transporter business have to have insurance?
Some of the forms of insurance are not mandatory for you to run your business, but they can protect you from risks in your business operations.
Some other forms are required by state law, such as workers compensation and vehicle insurance.
What does a small Patient Transporter business insurance policy cover?
Liability insurance provides coverage against lawsuits or claims filed by a third-party for bodily injury, property damage, or negligence.
The precise cover will vary based on your own operations.
See the table in the costing section above for average prices of the recommended policies for Patient Transporter insurance.
How much will Patient Transporter business insurance cost?
On top of the size of the business, certain other factors, such as location and claims history, are used to determine your policy’s cost.
You should consult with professional insurance agents and brokers, or insurance company representatives.
You can search for more information insurance for Patient Transporter, in the search box below, and follow the relevant links.