For-profit ambulance services come in all shapes and sizes. From traditional ambulances to air ambulances, any company providing emergency medical transport services faces numerous risks to company-owned property as well as passengers and the general public.
Ambulance companies should work with an independent insurance agent who has experience tailoring business insurance plans to the needs of medical transport companies.
An independent insurance agent can work with multiple insurance companies and find the best mix of property and liability coverage to protect you if something goes wrong.
About the Ambulance Industry
The medical transport or ambulance industry includes businesses that are primarily engaged in providing transportation of patients by ground or air, along with onboard medical care by EMTs, nurses or physicians.
Ambulance services are often used during medical emergencies as well as nonemergency situations. Ambulances and air ambulances are equipped with lifesaving equipment operated by the medical personnel on board.
Larger companies dominate the ambulance industry in the United States; the 50 largest companies generate more than 50% of revenue.
Comprehensive Ambulance Insurance Covers Many Risks
Businesses in the medical transport industry need customized ambulance insurance coverage that addresses risks to business property, the ambulance fleet, passengers, employees and the general public. Talk to your insurance agent about which of the following types of ambulance services insurance you need.
- Commercial general liability (CGL) insurance covers your ambulance company for third-party claims of property damage or bodily injury.
- Commercial auto coverage provides both physical damage and liability protection for your fleet of ambulances.
- Commercial property coverage covers damage to owned buildings and office space as well as business personal property inside owned or leased spaces.
- Inland marine insurance provides coverage for property that is in transit, most notably the medical equipment and other property that travels onboard your ambulances.
- Excess liability coverage provides additional liability protection beyond the limits of your general liability policy.
- Professional liability coverage covers you and your employees for negligence and errors in the professional services they provide (e.g., medical professional liability).
- Employee crime and dishonesty coverage protects you if an employee or group of employees commits an act of dishonesty or fraud.
- Workers’ compensation insurance protects your employees from the costs of workplace illnesses and injuries.
- Employment practices liability insurance (EPLI) covers you if you are sued by a prospective, current or former employee for discriminatory employment practices.
All of these policies can be tailored to the unique needs of a ground ambulance or air ambulance company.
Special Coverage for Air Ambulance Services
Air ambulances are called when a ground medical transport vehicle cannot get a patient to a hospital fast enough or when the scene of an accident cannot be reached by motor vehicle.
Air ambulances — typically helicopters — often carry state-of-the-art medical equipment, paramedics, emergency medical technicians, and even nurses or physicians to care for the patient until they arrive at a hospital.
The Association of Air Medical Services estimates that more than 550,000 patients use air medical transport services each year in the U.S. These patients are often experiencing traumatic injuries, pregnancy complications, heart attacks, strokes and other serious conditions. The stakes could not be higher.
Operators of air ambulance services face the same risks and challenges as ground ambulance operators, with the added risk of air travel, and need their own special type of air ambulance insurance.
Commercial aviation insurance is required for air ambulance services whether they own one helicopter or an entire fleet. It is necessary to work with an experienced and knowledgeable agent who can properly assess your situation and help you tailor a medical helicopter insurance program to your needs.
You need to assess the specific risks to pilots, passengers, employees and even the general public when you identify the types of coverage you need and the insurance companies that are best suited to provide that coverage.
Typically helicopter insurance provides liability coverage for claims of third-party property damage or bodily injury. Your coverage should also include passenger liability, which protects passengers who are injured or killed if your helicopter crashes.
Insurance for air ambulances should also include hull insurance. Hull insurance provides coverage for damage to the aircraft — when it is in flight or on the ground — from perils such as theft, vandalism, storm damage and even a total loss due to a crash.
Find Ambulance Insurance Tailored to Your Needs
The most important thing you can do to protect your business assets is to work with the right insurance agent. An agent who has experience working with commercial vehicles, commercial aircraft and ambulance services will be best-suited to find the best mix of coverage and the right insurance companies for all of your needs.
A local agent can find tailored, comprehensive medical ambulance insurance that protects your business, your employees and your passengers. Contact a local independent insurance agent today.