Community Transportation Insurance
If you own and operate a non-emergency vehicle or paratransit company, you have a lot of details to keep track of. Like other taxi or shuttle type businesses, a paratransit company provides transportation on demand to customers in a given area. Your company may use small passenger vans to provide this service, or small busses fully equipped to transport handicapped and wheelchair bound customers.
As the owner of a paratransit business, your vehicles are critical to the success of your company. If one were to be damaged in an auto accident you would have to worry about the expenses involved with repairing it while also losing money each day that it is down. You can protect your non-emergency vehicles with the appropriate types of business auto insurance. Here are the most important types of paratransit insurance you should have:
- Liability Insurance – Liability insurance is mandated by law in most states. It protects other drivers from suffering financial losses when the driver of your vehicle causes an accident. This insurance helps pay for injuries and damages to other people when your paratransit vehicle is at fault for an auto accident. This business coverage comes in two specific pieces: Bodily injuries and property damages.
- Bodily Injury – When your non-emergency vehicle causes an auto accident, the bodily injury portion of your liability insurance pays for the cost of medical care for the victims involved. This coverage pays the medical bills and related expenses that are created for the other drivers and passengers not in your vehicle. Bodily injury insurance pays for the cost of emergency and ongoing medical care. It also pays for the expenses incurred for rehabilitation, physical therapy and recuperation. It pays the victims for pain and suffering, and if applicable it pays for lost wages due to time off work. When accidents cause fatalities, this coverage also pays for the victim’s funeral expenses.
- Property Damage – If your paratransit vehicle is at fault for an auto accident, the property damages portion of your liability insurance will pay for the cost of repairs that the other vehicles need.
Medical Payments –This is business auto insurance that protects your paratransit driver and all passengers who are in the vehicle at the time of an auto accident. If anyone is injured, regardless of who is at fault for the accident, medical payments coverage will pay for the associated medical bills. This coverage is not available in all areas. Call and speak with one of our licensed representatives to determine if it is a viable option for your paratransit insurance needs.
Physical Damage Insurance – This insurance protects your vehicle directly. If your non-emergency vehicle is damaged or destroyed due to unexpected events and perils, this coverage can pay for the repairs and replacement of your vehicle. This is important for non-emergency vehicles that are not fully paid for, and those that are leased, because it provides the highest level of loss protection your company can get.
- Comprehensive Physical Damage – Comprehensive damages provides you with non-emergency vehicle insurance against a wide variety of potential day-to-day risks. It protects you against theft of your vehicle, break ins, vandalism, damages caused by natural events such as a hail storm and more. Comprehensive damages protection covers most damages that are not caused by overturning or by collision.
- Collision Damage – Collision damages provides you with paratransit insurance for those times when your vehicle does get damaged in a roll-over or collision. If, for example, your vehicle backs into a mailbox while picking up customers, your collision damages protection will pay for the cost of repairs.
- Specified Peril (CAC) – Specified peril insurance provides you with protection against only those events and risks that are specifically listed on your paratransit insurance policy. It is also known as CAC, which is short for Fire and Theft with Combined Additional Coverage.
Uninsured or Underinsured Motorist – This insurance is ideal for your non-emergency vehicle transit service, because it protects you from suffering financial hardships that can be caused by other people. If another driver causes an accident with your paratransit vehicle and they do not have insurance – or they don’t have enough insurance – this coverage pays for the cost of repairs to your vehicle and pays for the bodily injuries of your driver and passengers.
- Bodily Injury – As explained for Liability coverage.
- Property Damage – As explained for Liability coverage.
- Collision Deductible Waiver (CDW) – When you are not at fault for the auto accident you should not have to pay an insurance deductible. You can get a waiver for the deductible as long as you carry uninsured or underinsured motorist bodily injury coverage on your paratransit vehicle.
Other Commercial Auto Coverage You May Want To Consider Includes:
- Rental – Rental insurance pays for the cost of renting a temporary replacement vehicle when yours is down for repairs due to an auto accident.
- Towing – If your paratransit vehicle is damaged extensively in an auto accident it will need to be towed to a repair place of your choosing. Towing insurance will pay for that expense.
- Accessories – Paratransit insurance should include accessories coverage so that you do not have to pay for repairing or replacing expensive equipment you have installed. Accessories coverage can be added to your business auto insurance to protect you from losses of devices such as GPS navigation units, communications radios and mileage meters.