Insuring your fleet of business vehicles with an adequate amount of coverage is essential. In addition to buying a healthy policy with reasonable coverage limits, you need to choose the right type of coverage for your specific needs. The type of auto insurance coverage that is ideal or even required for your business varies depending on the type of business activities that they are used for. One of the more unique types of coverage available and one that may be essential for your fleet is NEMT insurance, or non-emergency medical transportation insurance.
What Is NEMT Insurance?
Non-emergency medical transportation insurance is intended for vans, cars and other vehicles that are used to transport senior citizens, special needs individuals and others who require special care while en route. Your business may be exposed to numerous risks that may not be a concern for other types of business-use vehicles. For example, these vehicles must be outfitted with special equipment, and this equipment should be covered by the insurance policy that you purchase. Liability risks related to those who your business is transporting and even liability and health concerns for your workers must be considered.
How this coverage works:
NEMT Insurance is comprised of several types of coverage that your business needs. This includes your typical auto liability coverage as well as collision or comprehensive coverage for the vehicle. It goes beyond this to include general liability insurance and inland marine coverage, which provides benefits for special equipment in the vehicle. Property insurance for your business property that may be in the vehicle as well as an umbrella insurance component to protect your business against additional vehicle-related losses. Given the importance of being adequately insured, your business must have access to the high coverage limit that may be needed in your unique circumstances. Without suitable coverage, your business will be financially liable for all related expenses that are not covered with your insurance policy.
NEMT insurance policies may vary slightly from provider to provider. It is important to understand the differences in coverage inclusions and exclusions, and you should compare these against your needs. In addition, the insurer that you purchase coverage from should offer the high insurance coverage limits that your business may need. You need to assess your business’s needs before exploring the options and setting up NEMT insurance coverage that is suitable for those needs.