School bus insurance coverage offers protection to any school transport vehicle against any loss/harm sustained due to unforeseen events such as collisions/accidents. School bus insurance coverage is also known as Staff bus insurance. When you run an institution that enables the transportation of students to and from school, ensuring the well-being of the students and personnel traveling on the school bus is of highest significance and main priority.

School Bus Insurance: Notable Features

Outlined below are some distinguishing features of school bus insurance:

•  Offers protection for any physical harm or loss of life of the driver.
•  Coverage in the event of any legal consequences arising from the passing or injury of a third party.
• Safeguards against human-induced catastrophes such as robbery, destruction, fire, etc.

It provides reassurance in case of unexpected financial burdens due to an accident/unfortunate incident.

 

School Bus Insurance: Coverage Inclusions

Outlined below are the protections provided under a school bus insurance plan:

• Protection against fire:

 Any harm or loss sustained by the vehicle due to flames or ignition is covered under a school bus insurance policy.

• Accident coverage:

In the event of any damage or loss suffered by the vehicle due to a mishap or collision, a comprehensive school bus insurance policy ensures financial security.

• Third-party liability:

 If an accident occurs, resulting in harm or loss to third-party property, a vehicle, or an individual, having third-party liability coverage ensures you remain worry-free from unforeseen monetary burdens.

• Theft protection:

 In unfortunate situations where the vehicle is stolen or lost, the theft coverage included in the school bus insurance policy will handle the associated expenses.

 

School Bus Insurance – Exclusions

Outlined below are the situations that are not covered under a school bus insurance policy:

•  Reckless driving:

If an accident or mishap occurs while the driver is under the influence of alcohol or any other intoxicating substance. Additionally, if the driver is operating the vehicle without a valid commercial driving license, the claim will not be covered.

•  Intentional damage:

 Any loss resulting from an accident that was caused deliberately.

•  Indirect loss:

 Any damage or loss occurring as a consequence of an action by the insured or a third party. For example, if driving the vehicle in heavy rain results in engine damage.

•  Natural wear and tear:

 Any harm sustained by the vehicle due to a known cause, such as engine damage from prolonged oil leakage.

•  War-like situations:

Any damage caused due to war, civil unrest, rebellion, nuclear hazards, nuclear weapons, or related perils.

 

Types of school bus insurance policy

School buses are one of the most convenient ways of transportation used by students to commute. The two types of school bus insurance are listed below:

Comprehensive School Bus Insurance

A comprehensive school bus insurance policy offers complete coverage Against any adversity or loss faced by your vehicle while also safeguarding the interests of third parties. Opting for comprehensive bus insurance is highly recommended over third-party liability school bus insurance, as it offers broader coverage and enhanced financial security.

Third-Party School Bus Insurance

A third-party liability school bus insurance policy offers coverage for any loss or damage caused to a third-party’s property, vehicle, or person. However, this policy does not cover any damage sustained by the insured vehicle itself.

In case you are unaware, third-party liability insurance is legally required in India, as it protects the policyholder from financial claims made by third parties when the insured vehicle is responsible for an accident.

 

School bus insurance : importance

School bus insurance is important as primarily it provides adequate cover against any unforeseen event. Besides, having school bus insurance ensures the safety of the drivers and passengers on the bus.

Generally, a school bus is owned, either leased or contracted to be operated by a school as it continuously is in the functioning of transporting the students from the school or any of the school-related activities. However , it does not include a transit or charter bus.

To operate a school bus, you will need a hired driver. Therefore, extensive liability coverage is important for the drivers, the passengers and the school district.

 

moreover , a school bus i different from many other vehicles because of the following stated reasons:

• The busses fall under the category of passenger carrying vehicle rather than a vehicle used personally
• Besides the seating capacity in a school bus does not only need a standard driving license but also require a commercial driver's permit

Any bus, which has a seating capacity of more than 14 people, is recognized a commercial passenger-carrying vehicle. Therefore, in case the bus is not in use for the transportation of students and is used otherwise, the owner needs to have commercial vehicle insurance.

 

Best school bus insurance companies in bangalore

• TATA AIG
• Reliance General Insurance
• Kotak General Insurance