How Does Bus Insurance Work?
Buses are passenger-carrying commercial vehicles. Bus insurance policy covers have similar features as other auto insurance policies. These features are:
Coverage for bodily injury or death for the driver.
Coverage for legal liabilities following the death and injury of the third party.
Property damage regardless of who was at fault at the time of the accident.
Coverage for damage to the vehicle due to theft, vandalism, fire, etc.
Sometimes, bus insurance covers especially in advanced countries also include:
Medical payment coverage for drivers and passengers in the other vehicle, especially for a passenger who doesn’t have adequate health insurance.
In advanced countries, if the bus carrier is that of school students, it is considered prudent to take a policy that will cover the driver and other employees against molestation or child abuse.
What are the factors that determine bus insurance cost?
Here are some factors that determine bus insurance premium rates:
The number of miles the bus travels in a year.
Whether the bus travels within city, highways or across state boundaries or international borders.
The driving record and experience of the drivers.
The number of seats in the vehicle.
Safety measures are available in the bus or safety training undergone by the driver.
Passenger profile such as disabled passengers or children
The amount of company assets or assets related to the vehicle, the insured needs to protect in the event there is a lawsuit against him.
Finally, remember the amount of coverage one needs for commercial vehicle insurance corresponds with the amount the insured is exposed to. This is true for all vehicles whether, it’s for trucks, taxis, or buses. In India, bus insurance is provided by general insurance companies who deal with commercial auto insurance.
Buy Bus Insurance Online
IFFCO Tokio offers bus insurance policies for commercial vehicle insurers. The company’s website offers the best quotes for customers looking to buy bus insurance online. A customer can buy a comprehensive bus insurance policy based on his specific requirements.