Bus Insurance Policy

​​​​Driving a bus in India can be a daunting job at times, owing to the unpredictability of the traffic, road conditions and even weather. This naturally magnifies the responsibility of a bus driver who is in charge of ensuring the safe commute of all passengers. And then you have to be wary of the unruly drivers who have absolutely no regard for traffic guidelines. Since it is the daily mode of transport for many, be it a private bus or a school bus, they must follow strict schedules and follow all safety procedures to eliminate every little element of risk that may lead to an accident.

However, accidents cannot be predicted, and when​​ a bus is involved, the damage caused to the third-party can be significant.​

Moreover, buses often become an easy target during an agitation or riot. Even on ordinary days, since a bus has to stop multiple times during the ride and usually travel long distances, its parts tend to wear and tear easily and replacing them can be quite expensive. Hence, buses need to be protected by an adequate bus insurance cover.​​

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Types of School Bus Insurance Policy

The types of buses​ covered under bus insurance policy are school buses, private buses (owned by private organisations for its employees)

As a bus owner, you must get a comprehensive plan with vital add-on covers​ to have your peace of mind by being financially secured from the cost of repairs in case of damages.

Reasons to Buy a Bus Insurance Coverage

• It is mandated by the law that every vehicle owner must possess a valid third-p​arty insurance​. This liability only policy is to pay for any potential third-party damages. In absence of this, you will have to pay a fine when caught by the traffic police.
• It is recommended to buy a comprehensive bus insurance to provide a financial shield to your vehicle as well. In case of a natural calamity like a flood, tsunami, or landslide, or any man-made disaster like a riot, theft, or vandalism, your vehicle can suffer damage beyond repair and you might have to spend a huge amount of money to buy another one. The insurance policy, however, can easily cover you against such unforeseen losses.
• In addition to covering the losses and damages to your vehicle or third-party vehicle, the bus insurance or school bus insurance also protects the owner driver in case of any bodily injuries.

Documents Required to Buy Bus Insurance or School Bus Insurance

• Proof of identity (any one – driving license, Aadhar card, PAN card, Government issued photo ID).
• Proof of address (any one – driving licence, bank or post office passbook, Government issued address proof).
• Driving Licence.
• Registration certificate of the vehicle and recent passport size photograph.
• School or Organisation Agreement copy.

What are the Inclusions Offered Under Bus Insurance

• Accidents: When your vehicle collides with another, all the damages caused to your bus will be taken care of.
• Theft: Vehicles get stolen every day and yes, even buses are not safe. So, if your bus gets stolen and is not recovered by police or private investigators of the insurer, you will get the IDV (Insured Declared Value) of the bus. IDV is the value of the bus calculated after the rate of depreciation i.e. the current market value of the vehicle.
• Fire or any malicious act: Sometimes, buses can catch fire due to an accident or they can be set on fire by people if caught amid a riot. So, any damage caused during a riot, strike, or any malicious activity, you would be reimbursed for the money spent on repairs.
• Natural Disasters: Natural disasters ranging from earthquake, landslide, cyclone, hailstorm to typhoon and hurricane, can destroy your prized possession. In such instances, a bus insurance policy will cover you for the financial losses incurred.
• Personal Accident and third-party losses: The policy will cover for injuries or death of the owner-driver of the bus. Similarly, it will also cover for losses incu​rred by any third-party vehicle, property or person due to a collision with your bus.

What are the Exclusions Offered Under Bus Insurance?

It’s pertinent to read the terms and conditions of the insurance to know when and why you will not be covered. Here are some of the cases:

• You will get no coverage if you are found driving under the influence of alcohol or drugs. Drunken driving is not only a punishable offence, but it will also be a reason why your insurance claims will be rejected.
• If foul play is suspected, your claim request might get rejected. For example, if your narration of the event does not match the damages to the bus, the insurer might do some investigation to find out the truth and if it turns out to be a fraudulent claim, you might even lose your insurance plan altogether, and not only the claim amount.
• If you don’t have the proper documents like a driver’s license or RC and you are held accountable for any damages in case of an accident.
• If you get your bus upgraded without any intimation, your claim may get rejected as your insurance policy covers only those bus parts that are specified in the plan. Likewise, any damage which is clearly caused by your negligence or as a result of a deliberate act, then you would have to pay for it from your pocket.
• There is a specified time frame within which you must initiate the claim process as once the deadline is over, your claim can be disapproved.
• Forgetting to renew your policy is another mistake you can make to deny yourself any claim.

How to Calculate Bus Insurance Premium​

You can calculate your bus insurance premium with our insurance premium calculator in a few simple steps. Read the following set of instructions to find out how:

• ​Step 1: Once you’ve logged on to our website, enter your vehicle’s details in the form. Details include make & model of the vehicle, registration number, fuel type, etc.
• Step 2: Enter your personal details like name, mobile number, email ID.
• Step 3: Select your type of insurance policy. For example, Comprehensive or Own Damage policy.
• Step 4: Select any add-ons you would like to have. Add-ons are extra covers that will change your final premium amount.
• Step 5: Once you’ve selected your plan type and add-ons, your final premium amount will be displayed.

Steps to Renew Bus Insurance

Bus School insurance policy can be renewed both offline and online. If you want to go for offline renewal, visit the nearest branch or contact your agent.

Follow these steps to renew your bus insurance online:

• Visit our website to begin
• Go to the policy renewal option
• Fill the required details such as name, policy number, etc. and click on submit
• Make the payment

After you have made the payment, your policy will be renewed and the document will be sent to your registered email ID. You can also download the document from the website and print it.

What is the Process to Claim Bus Insurance​

• ​If your vehicle is damaged due to a calamity or you meet with an accident and want to claim the cost of damages, inform our claims team immediately and file a claim with the policy details.
• Submit duly filled and signed claim form along with driving license of the driver who was driving the bus or school bus at the time of accident, registration certificate of the vehicle, valid fitness certificate, FIR copy in case of third party injury, death or property damage. The original documents to be submitted for verification along with photocopies.
• If you want to avail cashless claims, you must get the vehicle repaired in any of our network garages. If the policy holder needs medical treatment, it must be done in a hospital where we have a tie-up with.
• In case of reimbursement claim, you have the flexibility to get the vehicle repaired in any garage of your choice. But, you have to pay the repair cost and get it reimbursed later. Make sure to submit the original bill and payment receipt to our claims team to get the claims processed.

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