Paratransit Insurance: Cost & Quotes From $45/mo

Table of contents
1. General Liability Insurance for Paratransits1.1. Add-Ons to General Liability Insurance for Paratransits1.2. Coverage Limits of General Liability Insurance for Paratransits1.3. What Other Policies Should I Get to Compliment My General Liability Insurance?2. Errors and Omissions Insurance for Paratransits2.1. Add-Ons to Errors and Omissions Insurance for Paratransits2.2. Coverage Limits of Errors and Omissions Insurance for Paratransits2.3. Am I Able to Get My Certificate of Errors and Omission Insurance Digitally?3. Commercial Property Insurance for Paratransits  3.1. Add-Ons to Commercial Property Insurance for Paratransits3.2. Coverage Limits of Commercial Property Insurance for Paratransits3.3. Do My Paratransit Vans and Vehicles Get Covered Under Commercial Property Insurance?4. Business Owner’s Policy for Paratransits  4.1. Add-Ons to Business Owner’s Policy for Paratransits4.2. Coverage Limits of Business Owner’s Policy for Paratransits4.3. What is an Important Insurance Policy I Might Need That Isn’t Included in Business Owner’s Policy?5. Tools and Equipment Insurance for Paratransits5.1. Add-Ons to Tools and Equipment Insurance for Paratransits5.2. Coverage Limits of Tools and Equipment Insurance for Paratransits6. Commercial Auto Insurance for Paratransits6.1. Add-Ons to Commercial Auto Insurance for Paratransits6.2. Coverage Limits of Commercial Auto Insurance for Paratransits6.3. Can I Buy More Coverage Later if I Need It?7. Workers Compensation Insurance for Paratransits  7.1. Does Workers’ Comp Cover Intoxicated Employees?7.2. Is Workers’ Compensation Insurance Legally Required for Paratransit Businesses?8. Excess Liability Insurance for Paratransits8.1. Coverage Limits of Excess Liability Insurance for Paratransits8.2. Does Excess Liability Insurance Help Alleviate Policy Exclusions?9. Cyber Liability Insurance for Paratransits9.1. Add-Ons to Cyber Liability Insurance for Paratransits9.2. Coverage Limits of Cyber Liability Insurance for Paratransits9.3. What Exclusions Can I Expect To See for Cyber Liability Insurance?9.4. What Types of Data is Covered by Cyber Liability Insurance?10. Paratransit Insurance Cost11. Best Paratransit Insurance Companies11.1. NEXT Paratransit Insurance 11.1.1. Pros11.1.2. Cons11.2. The Hartford Paratransit Insurance 11.2.1. Pros11.2.2. Cons11.3. CoverWallet Paratransit Insurance 11.3.1. Pros11.3.2. Cons11.4. Tivly Paratransit Insurance 11.4.1. Pros11.4.2. Cons11.5. Thimble Paratransit Insurance 11.5.1. Pros11.5.2. Cons11.6. Hiscox Paratransit Insurance 11.6.1. Pros11.6.2. Cons

According to data analysis by the Bureau of Transportation Statistics, 15% of disabled workers ride as passengers on their commute to work. Disabled persons and the elderly might find riding taxis or any other form of public transport strenuous. Paratransits provide a solution to this problem. Your business must be ready to face the unexpected. To protect your business from damaging lawsuits and damage claims, you will want to purchase paratransit insurance. Keep reading to determine which components you will need for your paratransit business.

General Liability Insurance for Paratransits

CoverWallet NEXT (Best)ThimbleHiscoxThe Hartford
Per occurrence limit $1,000,000$1,000,000$1,000,000/$2,000,000$2,000,000$1,000,000/$2,000,000
Aggregate limit $2,000,000$2,000,000$1,000,000/$2,000,000$2,000,000$1,000,000/$2,000,000
Products and completed operations aggregate limit $2,000,000

Advertising injury coverage aggregate limit $1,000,000$1,000,000$2,000,000$1,000,000$1,000,000
Tenant’s legal liability coverage limit 
Waiver of subrogation included?YesNoIncludedCan be includedNo
Hired/non-owned auto liability coverage included?YesNoNoCan be includedCan be included
Equipment breakdown floater included?No YesYesCan be includedCan be included
Can you get a certificate of insurance online?YesYesYesYesYes
Name additional insureds?YesYes

General liability insurance will protect your paratransit business from third-party property damage and bodily injury claims that come from clients and the general public. Some example situations of this coverage include:

  • A client falls over and injures themselves while trying to get into your transport vehicle

  • Someone wanders onto your commercial building and cuts their leg in an accident

Add-Ons to General Liability Insurance for Paratransits

Below are a few popular add-ons you will want to look into for your paratransit business:

  • Inland marine coverage–Protects business tools and equipment when they are stored at another location or in transport across the land

  • Employment practices liability–Covers your business interests from lawsuits that accuse you of discrimination and wrongful termination

  • Excess liability–Extends coverage of your general liability policy beyond the normal limits

Coverage Limits of General Liability Insurance for Paratransits

Paratransit general liability insurance will have coverage limits between $1 million and $2 million. Higher limits are available if you talk things out with the insurance company. 

What Other Policies Should I Get to Compliment My General Liability Insurance?

Your paratransit insurance company will offer other important policies that you might want. Workers' compensation helps protect your employees, and commercial property insurance helps protect your business property. Be sure to take inventory of your assets and employees so you can make an informed decision about which policy to get.

Errors and Omissions Insurance for Paratransits

CoverWallet NEXTThimble (Best)HiscoxThe Hartford
Per occurrence limit $1,000,000$1,000,000$1,000,000/$2,000,000$1,000,000$1,000,000
Aggregate limit $2,000,000$2,000,000$1,000,000/$2,000,000$1,000,000$2,000,000
Name additional insureds?YesYesYesYesYes
Waiver of subrogation included?YesNoYesCan be includedNo
HIPAA coverage included?NoNoNoNoNo
Sexual misconduct coverage included?NoNoNoNoCan be included
License defense coverage included?NoNoNoNoCan be included
Deductible $500$500$500$50/$10,000$500

Error and omissions insurance for paratransit businesses protects you financially from mistakes, errors, oversights, and negligence that your business may make. Some example situations include:

  • An employee drops a passenger off at the wrong stop, where they get injured unnecessarily

  • One of your employees makes a scheduling error that causes a client to miss an important medical treatment

Add-Ons to Errors and Omissions Insurance for Paratransits

  • Excess liability–Extends the coverage of your errors and omissions insurance to cover expensive incidents when your coverage limit starts to run thin

  • Extended reporting period–This allows you extra time to file your claim outside of normal policy limits

Coverage Limits of Errors and Omissions Insurance for Paratransits

Your para transit insurance will have a coverage limit of $1 million for errors and omissions insurance. It’s also possible to get an errors and omissions policy offering $2 million or more in coverage. 

Am I Able to Get My Certificate of Errors and Omission Insurance Digitally?

Yes, many top companies will offer to deliver your insurance certificate digitally through email or other means. This means you can get instant coverage and can show your coverage if you need to prove it to a client or governing agency.

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Commercial Property Insurance for Paratransits  

CoverWalletNEXT (Best)ThimbleHiscoxThe Hartford
Building coverage limit (minimum)$50,000$260,000$25,000/$500,000$25,000$60,000
Contents coverage limit (minimum)$50,000$22,000$25,000/$500,000$25,000$60,000
Outdoor signsExcluded$2,500ExcludedExcludedExcluded
Accounts receivable ExcludedExcluded$5,000/10,000IncludedExcluded
Money and securitiesExcluded$2,500$1,000IncludedExcluded
Lock and keys Excluded$2,500ExcludedExcludedExcluded
Business interruption floaterExcludedIncludedIncludedIncludedExcluded
Equipment breakdown floaterExcludedIncludedExcludedExcludedExcluded
Inland marine insurance floaterExcludedExcluded$10,000ExcludedExcluded
Employee dishonesty floaterExcluded$5,000$2,500IncludedExcluded

A paratransit insurance program with commercial property protection will provide financial compensation for building and business property damage caused by lightning, sinkhole collapse, and other covered perils. Examples include:

  • A fire starts out of nowhere and damages your business building forcing you to pay for repairs.

  • A thief breaks into your commercial building and steals some of your property

Add-Ons to Commercial Property Insurance for Paratransits

  • Equipment breakdown–Protects your paratransit business equipment if it gets damaged from internal breakdowns, power outages, and power surges.

  • Earthquake insurance–This provides earthquake peril coverage that is generally not standard with commercial policies.

Coverage Limits of Commercial Property Insurance for Paratransits

The usual commercial property insurance coverage is around $60,000. The amount of coverage you get is based on the value of your property.

Do My Paratransit Vans and Vehicles Get Covered Under Commercial Property Insurance?

No, commercial vehicles will need a commercial auto insurance policy. Since vehicles move and get into accidents, they require their own form of insurance protection. You can add commercial auto policies onto other insurance policies if need be.

Business Owner’s Policy for Paratransits  

CoverWalletThimble (Best)NEXT HiscoxThe Hartford
General liability aggregate limit $2,000,000$2,000,000$2,000,000$300,000$1,000,000/$2,000,000
Commercial property coverage limit $50,000$500,000$260,000$25,000$75,000
Optional policies can be added?YesYesYesYesYes
Name additional insureds for free?YesYesYesYesYes
BOP discount?YesYesYesYesYes

A business owner’s policy is a simplified policy that encompasses the protections of general liability insurance and commercial property insurance. Examples of coverage include:

  • An individual stumbles into your office and slips on a wet floor, injuring themselves

  • Your commercial building is vandalized and requires graffiti and broken windows to be cleaned up

Add-Ons to Business Owner’s Policy for Paratransits

  • Extra expense coverage–Adds protection for extra expenses that may occur while you are trying to get your business back into operation after experiencing property damage

  • Commercial crime insurance–Protects you from malicious actions from employees like theft, forgery, and other forms of business crime

Coverage Limits of Business Owner’s Policy for Paratransits

Your business owner’s policy will offer $1 million in general liability protection and between $20,000 and $50,000 in commercial property protection.

What is an Important Insurance Policy I Might Need That Isn’t Included in Business Owner’s Policy?

Workers' compensation insurance is a policy that protects your employees from injuries and illnesses they contract on the job. BOP does not include this coverage by default, so you will need to purchase this policy as well to get your employees covered. It may be important to get this coverage because most states require you to have this protection for your employees.