Mobility scooter dealers usually sell more than just mobility scooters. If you own a mobility scooter store, you probably sell a variety of medical equipment designed to improve the mobility and comfort of disabled and injured individuals.
Patients with a wide variety of injuries and disabilities look to your store to purchase new and used:
- Chair lifts and stairway lifts
- Mobility aids including scooters, ramps, wheelchairs, and walkers
- Baths and bathing aids
Your products are extremely important to your customers. Finding and recommending the right product for each patient’s unique needs is of the utmost importance. And from time to time, things can go wrong.
In order to protect your business from costly problems, you need a customized package of business insurance policies designed for mobility scooter dealers.
An independent insurance agent can help you find insurance companies and policies that specialize in your line of work.
Why Do You Need Mobility Scooter Dealer Insurance?
Mobility scooter dealers sell certain types of durable medical equipment directly to patients. Many mobility scooter dealers also offer rentals, delivery services, and repair services.
Your role is to evaluate, educate, and match appropriate equipment or products with each patient’s unique needs. Patients must leave your store feeling comfortable with the equipment they have purchased, and must know how to use the products in a safe and secure way.
If you fail or make errors in any of these activities, it can have serious consequences for the patient. What’s more, any one of the products you sell could malfunction, leading to a patient injury or worsening a patient’s condition. Incidents like these can lead to claims of negligence on your part, and even costly lawsuits.
What’s more, any retail establishment can face devastating costs if some type of unexpected event (like a fire, a tornado, or lightning) damages the store.
Slips, trips, and falls are common in public places, and your clientele might be even more susceptible to falls or other injuries while in your store. These kinds of incidents can lead to expensive medical bills and lawsuits that have to be paid for the injured party.
Customized mobility scooter dealer insurance can help you cover all of the unique risks you face.
What Does Property Insurance Cover?
The potential for property damage in your store is endless. Your store can catch fire, damaging everything inside including inventory, furniture, fixtures, computers, and important files.
A severe storm can send a tree through your storefront window. Or a lightning strike can zap all of your computers and electronics, rendering them useless.
Commercial property insurance is essential for any mobility scooter dealer. It protects you from events like fires, burglaries, and natural disasters. It covers the cost of replacing damaged inventory and other physical assets, making repairs to your structure, and more.
Commercial property policies generally include business interruption insurance. This covers lost income and pays for certain ongoing expenses if you must temporarily close your shop while you make repairs after a covered event.
What Does Liability Insurance Cover?
Many of your customers may already have injuries or problems that make walking difficult. Some of them may be older individuals who use walkers or canes. Aisles that are not clear or a disorganized store can easily lead to a slip, fall, or worse.
In these and many other circumstances, you’d probably be responsible for paying for related medical expenses or repair costs.
Liability insurance pays for injuries or damage to third parties that are caused on your premises or as a result of purchasing something at your store.
If a customer trips over a displayed walker that’s been left in an aisle, your commercial general liability (CGL) policy would pay for any resulting medical bills if the person were injured.
Product Liability Insurance for Mobility Scooter Dealers
If you sell a faulty product that causes harm to a client, you 're likely to be named in a lawsuit even though you did not manufacture the product that caused the problem.
Product liability insurance covers a business’s financial responsibility for losses or injuries to a user, buyer, or bystander caused by a defect or malfunction of a product. In some instances, product liability insurance may also cover you for defective design and failing to warn a buyer of a particular danger.
Any company that participates in bringing a faulty product to market can be sued. Given that your store sells mobilized medical equipment, anything can go wrong.
A frail person could fall and break a hip because the locking mechanism on a rolling walker fails. Failing to issue appropriate warnings for mobility scooter use could lead to a serious injury, too.
If you are sued for selling a faulty product or failing to warn a customer of known dangers, the medical costs, compensatory damages, economic damage, attorney fees, and court costs can be insurmountable.
There is some product liability coverage provided in your general liability policy. But sometimes that coverage is not sufficient for the level of risk you face. Ask your independent insurance agent if you need to purchase additional product liability insurance to fully cover the specific risks you face.
Do You Need Professional Liability Insurance?
You’re expected to have a certain level of knowledge and expertise that makes you qualified to recommend certain products, set them up, and instruct patients how to use them. What if you recommend a product that ultimately causes harm to a client?
Your medical equipment store could be sued if a customer perceives that you have been negligent or made an error in the advice or services you provide, and have consequently caused harm.
This could mean providing faulty instructions, recommending inappropriate products, or filling an order with the wrong item.
Professional liability insurance can protect your mobility scooter store from claims of professional negligence. It covers professionals, their partners, their employees, and the partnership or corporation for damage caused by providing or failing to provide professional services.
Most professional liability policies cover judgments, settlements, and defense costs. Even if the claims are found to be false, defense costs alone can be financially devastating for companies of all sizes.
There is no standard policy language for professional liability policies, and every type of professional has different types of exposures that need to be considered. Your independent insurance agent can help you determine if you need professional liability insurance and coverage specifics that are necessary to cover your risks.
How to Insure Your Delivery Vehicles and Drivers
If you offer delivery services, you're likely to own a fleet of vans, trucks, and other vehicles to deliver purchases to customers. You might also pick up completed rental equipment and items to be repaired. You need to protect your business from the financial fallout when one of your vehicles is involved in an accident.
- If you own trucks or other vehicles, commercial auto insurance covers your owned vehicles and drivers in the event of an accident or other vehicle damage that occurs. If one of your drivers causes an accident, commercial auto insurance provides coverage for property damage and medical expenses for others involved in the accident, as well legal costs and financial settlements if you are sued.
Commercial vehicle insurance also offers comprehensive coverage, collision coverage, and a variety of other optional coverage types that reimburse you for your own vehicle damage and other related expenses.
You may also want to talk to your independent insurance agent about your need for excess liability, or commercial umbrella insurance.
- Commercial umbrella insurance provides an extra layer of liability protection to any of several other liability policies you might have, including commercial auto insurance. Commercial umbrella insurance kicks in when the limits of your other applicable insurance policies have been exhausted, protecting you in the event that a claim exceeds the amount of coverage available from any other applicable policy.
Don’t forget coverage for your tools and equipment that are needed for delivery and onsite assembly. Once your hand trucks, dollies, tools, and computer equipment (tablets, laptops) leave your store location, they need special coverage while they are in transit.
- Inland marine insurance is another form of property insurance that protects your equipment, tools, portable computer equipment, and other supplies from theft, loss, or damage while they are in transit to and from delivery sites.
What Other Coverage Do You Need?
Basic property and liability insurance policies do not cover everything. You’re likely to need additional policies or policy endorsements (coverage add-ons) in order to cover all of your risks.
- Workers’ compensation insurance is typically required for any business that has employees. It pays for lost income and medical expenses for employees who are injured on the job.
- Sign coverage pays for damage to outdoor signs that are not attached to your building when the damage is caused by weather, vandalism, fire, etc.
- Utility interruption coverage provides income protection if you are unable to operate due to a covered utility (water, electrical) interruption.
- Employment practices liability insurance covers you if an employee sues you for discriminatory employment practices.
- Crime coverage pays for loss of inventory due to theft of merchandise from shoplifting, and even for loss of money and merchandise stolen by employees.
- Cyber liability insurance is important for any company that uses, transfers, or stores electronic data. If you sell mobility scooters and other medical equipment online, you’re even more vulnerable to a cyberattack. Cyber liability insurance covers many of the financial repercussions following a cyber breach, including direct costs and even costs related to reputational or brand damage.
- Bailees coverage is necessary if you take possession of a customer’s mobility scooter in order to make repairs. This is an add-on to a business property policy that covers non-owned property that is stored at your store or is in your possession. It helps pay for damage and minimizes the financial implications for you and your customers if their property is damaged while in your control.
How Much Does Mobility Scooter Dealer Insurance Cost?
The cost of mobility scooter dealer insurance depends on several factors. The type of equipment you offer, the services you offer (e.g., delivery, repairs), the value of your inventory, the number of vehicles you own, the size of your business, and the number of employees you have will be considered when determining the cost of your business insurance.
The location of your business and the weather and crime risks in your neighborhood also impact your insurance rates.
Find and Compare Quotes
An independent insurance agent can work with you one-on-one to determine the types and amounts of coverage you need. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.
Benefits of an Independent Agent
Independent insurance agents simplify the search process for finding the right mobility scooter dealer insurance. They’ll walk you through some handpicked policy options and explain the details and options.
Most importantly, they’ll be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
The Lowdown on Online Quotes
Online quotes can be tempting. They are fast and easy to get—but are they accurate? And are you getting quotes for the right coverage? For business owners, choosing speed over accuracy can cost you.
Online quotes can’t and don’t see the whole picture. They can leave out important coverage that will leave you devastated if something unexpected happens. And they can leave out cost-saving opportunities that an agent can help you take advantage of.
Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.
TrustedChoice.com Article | Reviewed by Paul Martin
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