What Are the Different Types of Mini bus Insurance, Businesses Should Have?
If you are looking for a vehicle that is larger than a car but smaller than a bus, then a mini bus should be your best bet. From Ford to Chevy, well-known manufacturers manufacture their line of minibuses, which can accommodate anywhere between 9 to 16 passengers.
While it is a safe option for traveling by itself, it can be made safer through minibus insurance. An insurance policy will serve as a financial protection tool for your minibus. Considering the increasing number of accidents and thefts and the wear and tear that minibuses are exposed to, it becomes crucial to insure the vehicle.
Whether you plan to use the minibus for personal use or commercial use, such mini bus insurance can protect your driver and passengers and secure the roads on which you drive.
We have compiled information on what you need to know before availing of the benefit of minibus insurance.
Do You Need an Additional Mini Bus License?
Before getting into the specifics of mini bus insurance, let us first look at the mini bus license that one needs before hitting the road.
First, you do not need a separate mini bus license in the US. However, in some cases, depending on the specifications of your minibus, you might be required to obtain a Commercial Driver’s License of different classes.
Look up your local laws to know more about operating a minibus with a valid license.
Who Needs a Mini Bus Insurance?
The following class of people or bodies must invest in minibus insurance:
- Schools and educational institutes.
- Charitable or voluntary organizations.
- Community or religious groups.
- Local authorities.
- Airport transfers service providers.
- Public or private hire.
- Health and welfare organizations.
Factors Affecting Mini Bus Insurance
Premium is an essential factor to consider when buying mini bus insurance. The market value or the Insured Declared Value of the minibus is one of the key factors affecting the insurance quote. Other factors like the age and skill of the driver, care, maintenance, and security of minibus, the purpose of the vehicle, and previous cover also affect the final premium amount for the insurance coverage.
What Does a Mini Bus Insurance Cover?
Mini bus insurance can be of different types, namely, private, business, and hire-and-reward. These could offer coverage to various aspects of the minibus. Typically, standard mini bus insurance can offer coverage for:
Accidents
In case of accidents, while operating minibuses, the insurance coverage will ensure that the vehicle and the occupants are duly recovered to a safe location. Claims against the damages will be settled as applicable.
Breakdowns
In case of vehicular breakdowns, the insurance provider will offer roadside assistance for repair and maintenance while also recovering the driver and the occupants to a safe location.
Glass Breakage
Minibuses contain more windows than your average vehicle. Your insurance claim may also extend to glass breakage of windows and windshields in case of accidents and vandalism.
Public Liability
The minibus may deal with the public, especially in the case of commercial applications. If in the unfortunate event that the minibus injures a member of the public or causes damage to public or private property, the insurance may cover the liability of such events.
Comprehensive Coverage
As the name indicates, comprehensive mini bus insurance may offer broad and holistic coverage for various instances, be it theft, damage, accidents, fire, etc., and can even extend to personal effects and cover medical costs.
Conclusion
However, it does bear mentioning that the coverage varies from policy to policy and insurance carrier to carrier. You may get coverage to the extent of vehicle replacement and protection from banned or convicted drivers – but it depends on how you have tailored the policy! Hence, go through the policy details carefully to know more about the coverage offered.