Al Buhaira Insurance - Bus Insurance - Understanding Bus Insurance Policy
Bus insurance policy is a legally binding contract between the policyholder and the insurance company that provides financial coverage to the commercial bus against unexpected incidents that may result in financial losses in exchange for the annual premium paid by the insured. The policy covers damages resulting from natural calamities, accidents, fire, collisions, etc. Additionally, the commercial vehicle insurance policy also covers third-party liabilities arising out of the insured bus.
Types of Buses Covered Under Bus Insurance
Commercial bus insurance policy covers different types of buses, including:
- School Buses: Buses used primarily for transporting students to and from school, college or any other educational institution.
- Private Buses: Buses owned by private organizations that are used to transport employees from one place to another for official purposes, etc.
- Public Buses: Buses owned by the government that run in the city for the transportation of citizens within the city as well as outstation travel.
Reasons Behind Purchasing Bus Insurance
Some of the reasons to purchase a bus insurance policy for your commercial vehicle include:
- Financial Protection: The policy provides financial protection to the policyholder against any unforeseen losses due to third-party damage or own damage.
- Owner & Driver Covered: The policy covers damages caused to the bus and provides coverage to the driver as well as the owner of the vehicle in case of bodily injury, disability or death. This coverage is offered under Personal Accident Cover.
- Comply with Law: As per the Motor Vehicle Act, 1988, it is mandatory for every vehicle owner to have at least third-party insurance policy. However, it is recommended to purchase comprehensive insurance for wider coverage against unforeseen losses.
- Avoid Hefty Challans: It is necessary for the bus driver to carry valid commercial vehicle insurance documents while driving on the road. Failure to produce valid documents can result in hefty fines and challans as per the state’s traffic rules.
- Protect Passengers: The policy also allows you to purchase an additional cover to protect passengers from any unexpected accident, natural calamity or fire accident.
At Al Buhaira Insurance, we offer comprehensive bus insurance policies that provide financial protection to your commercial vehicle against unexpected events. Contact us today for free quotes and safeguard your bus and passengers.
