Here are the primary types of insurance you’ll need:
- Liability Insurance – Liability insurance is normally required by law in all parts of the United States. This coverage is designed to protect other people from suffering losses that are caused when your wheelchair van causes an auto accident. Liability insurance primarily focuses on two coverage areas: Bodily injuries and Property Damages.
- Bodily Injury – This section of your liability insurance policy helps pay for any injuries inflicted on other people from an auto accident. If your wheelchair van causes, or is found to be at fault for, an auto accident that causes people to get physical hurt, the bodily injury portion of your coverage pays for their medical expenses. When an injured person must be transported to the hospital for example, your bodily injury coverage can pay for the ambulatory bills and expenses. It also pays for the emergency room care, doctor’s visits, prescription medications, physical therapy, rehabilitation and other medical bills that are caused due to the auto accident. Bodily injury also pays for a person’s lost wages when they must miss work due to recovery times, and it pays for pain and suffering of the victims. When a person is killed in an auto accident, your bodily injury insurance can pay their funeral expenses as well.
- Property Damage – When a vehicle or other property sustains damages from an auto accident that was caused by your wheelchair van, the property damages portion of your liability insurance will pay for the cost of repairs.
Liability insurance can provide your wheelchair van with protection at varying levels, based on the amount of coverage you select. You can choose a standard split level policy or a combined single limit policy as well.
A split limit policy sets maximum benefit limits on two separate portions of an auto accident claim. Split limit policies will pay no more than the set limit per person for bodily injuries but no more than the total combined limit for all bodily injuries in an accident. It will also pay a separate maximum for property damages. Example: A liability split limit policy of $15,000/$50,000/$35,000 explains a specific payment maximum per accident. No more than $15,000 will be paid for any individual person’s bodily injuries in one accident; no more than $50,000 will be paid for the combined total of bodily injuries; and $35,000 is the maximum amount the policy will pay for property damages.
If you elect a single combined limit liability policy instead, there is no separate maximum limit defined for bodily injuries or property damages. There is just one maximum overall payout for the policy for each accident. A $50,000 combined single limit liability policy for example, would pay a maximum of $50,000 in damages per accident regardless of whether the damages were to people or property.
Medical Payments – Medical payments insurance is important coverage for a wheelchair van, because it pays medical related expenses that arise for your van driver and any passengers who were riding in the vehicle at the time of the accident. Coverage is for paying medical and related bills, such as ambulance transport, hospital care and follow up treatments. This insurance protects your driver and passengers without regard to who causes an auto accident. It is not available in all areas however, so be sure to contact one of our licensed representatives to determine if it’s an option for your company’s policy.
Physical Damage Insurance – Physical damages insurance protects your wheelchair van itself. And it protects your company from having to pay the bills when the van is damaged or destroyed. This insurance is extremely important for your company if you lease your wheelchair van, or if you still have an outstanding unpaid finance loan because it provides you with the most protection possible. There are three types of physical damages insurance protection: