Running a business that involves the use of buses means you or your hired drivers are transporting people – whether across town or across the state. Because you deal with the public, you need the right insurance to cover your vehicles and potential injuries to your passengers in the event of an accident on the road. Perhaps you run a sightseeing company, or you have a church or camp that has a bus for transporting people. Or maybe you lease buses to city schools, churches, sports teams, activity groups or senior centers. How do you find commercial bus insurance to cover your risks?
Whether you have just one bus or a fleet of buses, you need insurance to protect your business investment.
There are several types of commercial busses, classified by their general use. There are charter buses, school buses, coach buses and tour buses. As each of these types of buses have different roles, different usage and different environments, coverage for each will vary.
Charter buses and tour buses may be hired several times a year, and may run greater distances and across state boundaries. On the other hand, school buses are used most often, have children on board and are often limited to district or enrollment boundaries around a school. Frequency and number of miles for different types of buses can widely, and so can the coverage. For this reason, it is important to consult with a knowledgeable agent, such as an independent agent in the Trusted Choice network. A member agent can help assess your insurance needs based on the type of bus or buses you own, and how they are used.
Similar to auto insurance, commercial bus insurance can be broken up into several types of coverage. Due to the large size of a bus, it can cause extensive damages and injuries in an accident, so it is important to evaluate the appropriate limits on your coverage based on the potential costs of an accident.
Commercial bus insurance policy will typically include the following:
Depending on how you use your bus, you may want to add additional riders or optional coverage types to your policy. For example if your passengers are children, you may want to protect your company financially if a driver or employee is accused of abuse or molestation. You can also consider excess liability coverage, known as an umbrella policy. Umbrella policies can dramatically increase your liability coverage limits to protect your business from liability claims that result in a lawsuit.
Rates for commercial bus insurance vary considerably, depending upon the number of vehicles you have, the use of the buses, how far they drive and other factors. Some of the factors that go into the cost of your commercial bus insurance policy include:
Answering each of these questions carefully can help your agent come up with adequate coverage and rates.
The amount of commercial bus insurance you need will depend upon how and where you transport passengers, among other things. You will also need to assess the value of the company assets you need to protect in the event a lawsuit is filed against you. If you are in an area where severe weather can cause disruptions on your trips, you might need plenty of comprehensive coverage. The amount of coverage you need corresponds with the amount of risk you are taking.