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Business insurance is intended to safeguard the financial assets of a business owner and is a vital investment for a medical taxi company.

Business insurance is intended to safeguard the financial assets of a business owner and is a vital investment for a medical taxi company.

This article will discuss the primary insurance coverage for medical taxi firms, general liability insurance, as well as additional policies that are appropriate for this industry.

Medical Taxi Companies Need General Liability Insurance

Every firm, regardless of sector, has risks that should be insured. General liability insurance is the most frequent and comprehensive form of coverage that company owners purchase.

General liability insurance covers the following risks:

Physical harm

Damage to property

Medical expenses

Legal defence and decision

Personal and commercial harm

While general liability insurance is not legally needed for companies, operating without it is exceedingly dangerous. If your company is sued, you might face costs in the hundreds of thousands of dollars (or more). The only way to avoid this sort of catastrophe from destroying your organisation is to have an adequate general liability insurance coverage in place to assist pay for these losses.


Example 1: While loading a patient and his baggage into your cab, a staff drops a bag, breaking the collector’s edition Fabergé egg inside. The patient’s damaged possessions would be replaced under general liability insurance.

Example 2: A prospective investor visits your office and slips on an unmarked wet floor in your lavatory, falls to the ground, and demands that your firm pay for his medical treatment because you failed to post a warning sign for the danger. His medical bills would be covered by his general liability insurance.

Example 3: Another company’s owner sues you for defamation. While you’re not clear why he believes you defamed his company, you know you need to get an attorney as quickly as possible. Your legal bills and any needed settlement would be covered by general liability insurance.

Of course, this is not an entire list of risks covered by a general liability insurance policy, and certain situations may result in a specific peril not being covered. To minimise coverage gaps, it’s always better to speak with your agent about the terms of your policy.

General Liability Insurance Cost

In the United States, medical taxi companies pay between $450 and $1,000 per year for $1 million in general liability insurance.

The cost of your coverage will be determined by a number of variables. Among them are your:



Employees’ number

Per-occurrence restriction

The overall aggregate limit

You may be able to get general liability insurance at a lower cost if you buy it as part of a business owner’s policy (BOP) rather than as a separate policy. A business interruption policy (BOP) is a more complete option that covers numerous types of coverage, such as business interruption and property insurance.

Other Types of Coverage Required by Medical Taxi Companies

While general liability insurance is the most crucial, there are various different types of coverage to be aware of. Other forms of insurance that all medical taxi firms should have are as follows:

Insurance for Commercial Vehicles

In the case of an accident, any vehicle you use mainly for your medical taxi service needs commercial car insurance to safeguard the vehicle, driver, and others on the road. Choose a policy that not only covers accident-related vehicle repair expenses and medical care for anybody harmed, but also provides enough coverage for any company property you transport in your vehicle.

Insurance for Workers’ Compensation

Workers’ compensation insurance is required in most states for both part-time and full-time employees. This coverage covers your drivers and other personnel if they are hurt on the job or get sick as a result of a work-related accident. It covers not only an employee’s medical expenditures and lost pay if they need time off to recuperate, but also any disability or death benefits resulting from a workplace accident.

Coverage Options for Some Medical Taxi Companies

In addition to the insurance listed above, your medical taxi service may need other forms of coverage based on particular features of your activities. Some of them may not apply to you, so be sure to ask your agent whether policies are appropriate for your company.

Insurance for Commercial Property

You made a significant investment in the cars and other equipment required to operate your medical taxi service. Commercial property insurance would cover the expense of repairing or replacing your business-related property in the case of a fire, theft, or natural catastrophe.

Insurance Against Crime

If your business is the victim of a crime, this sort of coverage will assist you in covering the costs of damages. If one of your workers steals something from your company, for example, you may make a claim and get funding to replace it.

Additional Security Measures for Your Company

Although investing in company insurance is simple (and necessary), it should not be your first line of defence. Yes, insurance will reimburse your company for cash losses incurred as a result of an occurrence, but it is much preferable to avoid losses altogether.

With this in mind, here are a few steps you can take to better secure your company:

Make use of legally binding contracts and other business agreements. (We provide free templates for several of the most often used legal forms.)

To safeguard your personal assets, form a limited liability company (LLC) or a corporation. (To discover how to incorporate an LLC or company in your state, see our step-by-step tutorials.)

Keep your company licences up to date.

Streamline the internal procedures of your company. This will remove unnecessary variables from common tasks and create a safe, consistent environment for conducting business.

If your company is an LLC, you should check into LLC insurance.