Frequently Asked Questions

General

Why should I choose Sovereign to protect my transportation company?

Sovereign professionals have decades of commercial insurance and risk management experience. We have a dedicated team that specializes within the taxi, limousine, trucking, shuttle & charter bus, emergency and non-emergency medical transportation insurance marketplace. Sovereign has the single largest book of non-emergency medical transportation clients in the country, operating in virtually all states. We are appointed as the go-to agency for commercial insurance with a number of the leading transportation brokers such as Logisticare, Southeastrans, Access2Care and more, giving us unmatched knowledge of contract requirements.

The Sovereign professional you speak with is dedicated to, and fully understands, the challenges and rewards of operating a transportation company.

Quotation Process

What information do I need to submit to receive a quotation?

Although each underwriter will evaluate your company slightly differently, there are a few basic pieces of information that any underwriter will need to offer a quotation. You will need to submit motor vehicle reports (MVRs) for all drivers along with loss run reports for your current and/or previous insurance policies. Both of these documents must be current and pulled within the last 90 days. Many underwriters will also wish to review the vehicle registrations. Based upon our evaluation of which insurance company would be a good fit for your company, there may be a short supplemental application to complete.

To start the process, please complete this short questionnaire and we will be in touch with you immediately.

How long does it take to get a quote?

Upon the underwriter’s receipt of complete information, quotes typically take anywhere from 2-7 business days. This depends solely on the insurance company’s review of the underwriting data used for premium development. However, we may not submit an account for quotation purposes without first having accumulated all necessary documentation.

Once all documents are received, we will work as diligently as possible to ensure the quickest quote turnaround time.

Can I get a quote on just general liability or worker’s compensation coverage?

Pricing

What are the major factors that affect transportation insurance premiums?

What are the major factors that affect insurance premiums? Why does one company pay $4,000 per vehicle and another company pay $8,000 per vehicle?

non emergency medical transportation and paratransit insurance Underwriters evaluate a number of factors when developing a quotation for your company. There are a few key factors that weigh heavily on your premium:

Historical loss experience – What is your company’s loss ratio?
Driver MVRs – Are the driving records clean? What are your driver training policies and procedures? Do current drivers meet your established criteria?
Fleet makeup – Are you operating wheelchair, stretcher, or ambulatory vehicles?
Vehicle capacity – How many passengers does each vehicle seat?
Location – Where do you operate and how far do you travel? Certain legal venues around the country are more liberal which leads to higher insurance premiums.

Other factors contributing to your premium development include:

Operating policies and procedures – Are they written, up-to-date and active?
Experience level of the owners and managers
Hiring/training practices and procedures (wheelchair securement, defensive driving, etc.)
Vehicle maintenance program
Are you a drug-free certified employer?
Do you have a sexual abuse and molestation program in place?

Once we have a complete understanding of your company and how it operates, we can better present your application to underwriters to negotiate the best insurance program and rates the marketplace has to offer.

How much will it cost to add additional vehicles during my policy term?

Why is the premium for a wheelchair vehicle different than an ambulatory vehicle?

A much higher percentage of accidents occur with wheelchair vehicles than with ambulatory vehicles, as you are transporting a more medically fragile person. Why? Wheelchairs are complicated instruments, vary greatly from manufacturer to manufacturer, can be difficult to secure, and can be unstable. Frequently, wheelchair incidents occur when there is no automobile accident, they’re simply as a result of improper wheelchair securement. Insurance companies typically charge more to insure a wheelchair vehicle because its exposure to loss is greater than transporting an ambulatory patient.

All medical transportation companies should require credentialed training and regular re-training for all drivers and attendants to ensure they understand the science of wheelchair securement, including the correct way to attach tie-downs and lap belts, and responding to emergency situations.

Establishing a ‘safety first’ corporate culture virtually guarantees to lower insurance premiums over the long term. Instilling in your drivers the need to always double-check that their wheelchair and passenger are completely secure before transport can be the difference between low premiums one year and high premiums the next.

What are the down payment and premium payment options?

Sovereign will work with you to tailor a payment plan that works for your company.

Financing options depend upon which insurance company you are placed with, but we can always arrange payment plans with as little as 15% down and 9 equal installments for 12-month policies and 10% down and 14 equal installments for 18-month policies.

Other payment plans include – depending on the carrier – 12 equal installments with zero-interest, or 20% down and 9 equal installments, or zero down with 20-equal payments directly debited from your broker paycheck (limited availability). On 18 month policies, we have arranged 10% down and 14 equal installments or 30-equal payments directly debited from your broker paycheck (limited availability).

Coverage

Do I have to carry comprehensive and collision coverage?

You are not required by law to carry comprehensive and collision (collectively known as physical damage) coverage. If your vehicle is financed or leased, financial institutions will most likely require that you carry physical damage coverage on the vehicle for a specified dollar amount.

Most insurers will not provide physical damage coverage for vehicles over ten years old or less than $5,000 in value.

Which coverages do I need to properly protect my company and comply with my transportation broker contracts?

Every broker contract is different. Sovereign’s professional advisors are familiar with all transportation broker contracts, but they vary by state and change over time. We prefer to review each contract that your company has entered into to ensure that any proposal we negotiate on your behalf will, at minimum, meet your contractual requirements. Typically, medical transportation companies need a combination of the following insurance coverages, whether or not that company works with transportation brokers, private pay clients, directly with Medicaid, or the Veterans Administration:

Automobile Liability
Equipment Coverage
General Liability
Hired and Non-Owned Automobile Liability
Professional Liability
Sexual Abuse and Molestation Coverage
Umbrella Policy
Worker’s Compensation

Do I need hired and non-owned auto liability coverage?

Adding hired and non-owned auto liability coverage to your policy will provide your company with more complete protection for accidents involving hired (i.e. rented) and non-owned automobiles (i.e. those of your employees which may have to be used from time to time).

Many contracts with transportation brokers will require specific liability symbols, including hired and non-owned coverage. Sovereign’s supporting insurance companies provide hired and non-owned auto liability as a regular offering, as well as “any auto” coverage, when required by contract.

I don’t have an office location. Why do I need general liability?

We look forward to being of service to your medical transportation company.

To begin the process, please complete this short questionnaire and we will be in touch within 24-48 business hours, or call toll-free 866-455-5413.