Insurance for Ambulance Services
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What Insurance Do Ambulance Services Need?
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Covers your products, materials and equipment that are transported over land (truck or train), or while they're in a warehouse. If involved in a collision, mishandling or cargo theft, Inland Marine Insurance covers the transported goods.
Frequently Asked Questions
Why do Ambulance Services need insurance?
These vehicles are equipped with medical equipment and tools that are necessary to save lives and are only operated by trained staff. This industry includes air ambulance, ground ambulance, emergency medical transportation, air rescue, and medical rescue.
Ambulance services provide emergency transport to people in need of immediate medical assistance. The type of service that is provided has a bunch of risks. For instance, while transporting a patient a collision with another car is caused. If your ambulance service is responsible for the collision, all potential costs from medical, over legal to repair and maintenance, have to be paid by the ambulance service. When you have insurance, these costs are covered. A lawsuit alone could leave a business bankrupt. And all it takes is a reasonable monthly payment to help your business survive in events like these.
What risks do Ambulance Services face?
Ambulance services face many risks. Ambulances need to travel fast and defy the rules of traffic. While ambulances usually aren't involved in accidents, there will be times where the outcomes don't come in your favor. When this happens, you'll be responsible for paying for the medical expenses if someone gets hurt and repairing or replacing the property if one gets damaged. Your employees can also become sick or injured on the job.
How much does insurance for ambulance services costs?
The insurance cost for ambulance service varies based on the type of insurance you need. For instance, General Liability insurance, a requirement for almost every business, can cost around $500 in annual premiums. Commercial Auto costs around $400 in annual premiums.