Insurance for Medical Equipment Rental Companies
Today, there are 1,283 medical equipment rental companies in the U.S. The medical equipment rental industry is seeing tremendous growth — 2.9% annual growth over the last five years — as many healthcare providers are opting to rent as part of a cost-savings strategy.
However, start-ups entering the market are faced with several barriers, one of which is the high cost of equipment. When you consider that the purchase price for medical equipment could range anywhere from $1,000 to $15,000 per piece, that could add up quickly to a significant amount of capital just to get the business off the ground.
Another essential for the start-up — and established rental company — is special liability insurance. Your company could be held liable for bodily harm or property damage. Could you afford the high cost of litigation — even if you’re not at fault? Your best protection is specialty liability insurance from XINSURANCE.
XINSURANCE, offered by Evolution Insurance Brokers, has decades of experience writing insurance for the medical industry. We offer a new approach to insurance, with direct access to underwriting expertise, risk management assessments, advice and customer service. Our underwriting team brings you over 40 years of experience, along with the ability to offer customized limits, coverage, deductibles, and premiums to create the perfect plan for your business protection.
Even you’ve been denied coverage, or you’ve filed bankruptcy or perhaps you’re growing too fast, XINSURANCE can help. We’ll even defend you in the event you are named in an incident, claim or lawsuit.
There’s no better way to help keep your bottom line healthy than with specialty insurance from XINSURANCE. For more information, contact us at 877-585-2853.
Authored by Rick J. Lindsey, President, Chairman, and CEO of XINSURANCE
Rick J. Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Rick J. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick J. Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick J. Lindsey discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Rick J. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick J. Lindsey to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. XINSURANCE also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are XINSURANCE can help.