Non-emergency medical transportation (NEMT) businesses provide a vital service to their communities. As with any business, they are exposed to several risks. A comprehensive insurance portfolio can help provide coverage for these perils and bundling policies can often provide added savings and efficiency.
The experienced team at Remo Insurance in Oxon Hill, Maryland, can help you get the insurance your business needs. Contact us today to get started.
The Benefits of Bundling
Bundling is when you purchase different types of coverage from the same insurance provider. By combining the policies, you can save time and money. You may see other benefits as well. Some reasons to bundle include:
- Save on premiums—The amount you can save varies, but several providers provide discounts for purchasing more than one policy through them. Additionally, you can typically make these payments at one time and in one place when you bundle.
- Added convenience—Bundling can make your insurance easier to manage. By having multiple policies through a single insurer, you can access your information (e.g., renewal dates and paperwork) in one spot, and one agent can answer questions regarding different coverages. It may also help streamline the claims process.
Other benefits to bundling may be available. Speak with your agent for details.
What Insurance Should Our Non-Emergency Medical Transportation Business Bundle?
NEMT businesses may have the opportunity to bundle multiple policies. Some common coverages that NEMT operations need that may be bundled include commercial auto insurance and commercial general liability insurance.
Commercial auto insurance
Commercial auto insurance can provide coverage for business-owned vehicles, including
- Liability coverage
- Collision coverage
- Comprehensive coverage
- Uninsured/underinsured motorist (UM/UIM) coverage
- Medical payments coverage
- Personal injury protection (PIP) (dependent on state requirements)
Certain aspects of commercial auto insurance (e.g., liability insurance) may be required by law. Work with your agent to help ensure you are securing the coverage your need.
Commercial General Liability Insurance
Commercial general liability insurance typically provides coverage if your business is responsible for accidents that cause injuries or property damage to others. It can help compensate the third parties for their losses and cover legal expenses (e.g., court costs, settlements and judgments). Commercial general liability insurance typically provides coverage for:
- Third-party property damage
- Third-party bodily injury
- Personal and advertising injury
Policies may also provide coverage for other incidents. Contact your agent to discuss terms, limits and exclusions. You may also be able to bundle other policies with commercial auto insurance and commercial general liability insurance, including business interruption insurance and commercial property insurance.
Should I Bundle My Policies?
It often makes sense to bundle insurance policies, but sometimes keeping them separate may be a better choice. Each NEMT business needs to assess its unique situation and regularly evaluate insurance costs as they may change.
The agents at Remo Insurance can be a valuable resource and help you decide if bundling is the right thing for your NEMT business. We can help you assess your needs and provide assistance as you secure the necessary coverages. Contact us today for more information.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.