If you are operating a non-emergency medical transportation (NEMT) business you must have to insure all of your fleet vehicles and transportation insurance is really of great importance. And you can do this through transportation insurance brokers that talk on your behalf with transportation insurance companies. However, insuring all the vehicles can be costly and the procedures you have to follow in order to keep your fleet safe and your drivers properly trained are difficult and usually take too much time.
In case you are new to NEMT or you are seeking to increase the number of vehicles in your fleet, there might be some questions in your mind regarding NEMT insurance for vehicles and what is it as your company develops and enlarges with the passage of time.
Here in this piece of writing, we are going to introduce to you the NEMT insurance industry. By the way, click here if want to know about how to operate NEMT business during the Covid-19 pandemic.
Well, NEMT companies even the ones that work under federal contracts are typically governed by the states where they operate. In the majority of instances, NEMT operators have to get at the very least minimum insurance level that is set by the state. Other than that, NEMT businesses that make an agreement with state NEMT program administrators for passengers are needed to have extra coverage. Anyway, non-emergency medical transportation insurance is beneficial and it carries a lot of transportation insurance solutions.
NEMT businesses, even those that operate under federal contracts, are actually regulated by the states where they do business. In most cases, NEMT operators must obtain at the very least the minimum insurance level that is required by the state in which they operate the business. On top of that, NEMT companies that contract with state NEMT insurance program managers for passengers are often required to have extra coverage.
There exist a number of vehicle-related NEMT insurance coverages a concerned businessman may select, for instance, basic fault insurance for every vehicle or extra coverage that further secures your fleet from harm and any sort of damage.
You might have observed with your own vehicle’s premiums that the vehicle insurance has gone up during the last 10 years. For instance, in 2009 the average cost of a vehicle was $785. By 2020, that cost has gone up to more than $1,300. While in 2021, full coverage for vehicle insurance annually for a driver with a reputable history of driving and a good credit record is $1,425. Even a small violation of rules such as a speeding ticket swiftly pushes that average cost straight up above $1,790.
Though not an extensive list, NEMT insurance costs are based on a range of factors including:
Your company’s risk reduction strategy (for instance driver training and coaching, retraining, and attestation) to reduce the chance of accidents and other problems
For career-driving services like NEMT providers, other factors may be involved that influence your NEMT insurance rates, for example, safety tools and other safety-related guidelines.
Same as the personal auto coverage, bad driving history, and the number of past claims can negatively impact your NEMT insurance rates and cause them to go higher.
However, NEMT operators also have specific aspects that can cause their NEMT insurance rates to go higher, irrespective of how good their driver’s driving history is, and in case there have never been other claims. Let’s take a glimpse at a couple of examples:
When talking about wheelchair and stretcher-equipped vehicles, you should have in fleet wheelchair approachable vehicles such as vans or buses you should have automobiles that are resourced with stretchers just out of the gate, your rates could be higher than transportation companies who use more usual cars and other vehicle types for passengers.
It is not the case that a wheelchair-available van is more probably to be in an accident in itself, it is about the general risk of driving that sort of vehicle. Wheelchairs need extra training and apparatus to securely adjust inside your vehicles. If the rider’s wheelchair is damaged or in case your driver does not appropriately secure the wheelchair, it may fall or turn over or become loose during transportation. That puts in jeopardy your driver and rider.
The condition is the same for vans that carry patients on stretchers. Also, patients who need wheelchairs and stretchers may likely have other complex health problems that escalate your risks and hence your insurance company’s possible liability—as you take them from one place to another.
Another aspect that can influence your rate is the relation or balance between the number of vehicles you possess and the number of drivers you have. The higher the number of vehicles you have on the road and the more drivers you have put to work to operate those vehicles, the higher your rate will probably be.
Here is how you can lower your rates:
Decreases in insurance rates differ from company-to-company, but here are some basic concepts that may help you lower your rate:
Regularly train, and where suited, attest your drivers for driver safety. This could involve defensive and protective driving methods, avoiding risks, avoiding unmindful driving, and drug and alcohol training.
Frequently or usually train, and where fit, confirm your drivers for patients’ safety. This could cover Americans with Disabilities Act (ADA) needs, how to handle a medical emergency, how to deal with blood-borne germs, how to appropriately protect wheelchairs and stretchers, what to do in an emergency situation, and how to ensure patient safety.
After reading the non-emergency transportation insurance process. It is to tell you that in such modern times instead of traditional and manual ways, your business must be operated and managed by an all-inclusive customizable software designed especially for NEMT businesses by highly skilled NEMT Cloud Dispatch professionals. If you need one, just call and talk with our sales team.
