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Bus Insurance
Bus insurance or any other business insurance is all about getting the right insurance to protect your assets.
Insurance estimates are best provided by an insurance broker or agent familiar with your niche industry. It also makes sense to get at least three different insurers to assess your business needs to give you an estimate for an all-risk insurance package.
For bus insurance cover it is important to have passenger liability specialists to take care of your needs.
Passenger liability:
- Passenger liability has been designed to cover any incidents that result from the transportation of passengers either by land, sea or air and can included a part ofvehicle insurance cover.
- It is imperative that the insurance schedule wording does not exclude those passengers that are fare-paying.
- It is highly improbable that an underwriter would be willing to terminate or alter the wording of a regular motor vehicle insurance policy.
If you run a tourist company or are in the hospitality industry and operate a small tourist vehicle service that ferries tourists or passengers – this is where specialist bus insurance would come in handy.
What You Need To Know About Bus Insurance:
- Bus insurance is not liable for fare-paying customers unless it is mentioned in the insurance schedule; this stipulation can be added to the policy if the insurer agrees, though, in an addendum.
- Basic vehicle cover is available for those searching for bus cover; these include Third party Cover, Third Party, Fire and Theft or fully Comprehensive insurance.
- Fully comprehensive cover to a limited number of non-paying passengers can be claimed for in many instances.
- It is a good idea to discuss liability with your broker or service provider – 2nd party cover is advisable to take care of any type of legal action should this arise.
- As far as riot cover is concerned, it is perhaps a good have this for your bus if it is not already specified in your insurance schedule.
- Windscreens will be covered under comprehensive insurance cover.
- If you fit your bus with a tracking device, ensure you have a low-claims history, plus you your vehicle is maintained at its peak at all times, you will automatically be able to enjoy lower insurance premiums.
- Furthermore by parking your vehicle or bus in a secure and safe area or by choosing higher excess rates could all lead to lower and cheaper monthly premiums.
Rates are usually calculated on the kind of business you own and run – the risks associated with the business, where it is located and the total value of the assets you need to cover – bus insurance is certainly no exception.
