Best insurance for school bus is primarily meant to insure the buses against any damage/loss against any mishap or accident. Apart from it, buses for any educational institute can be covered under this insurance policy against natural calamities, fires or accidents. A basic plan for academic institution buses will cover third-party liabilities, but a comprehensive plan has multiple benefits.
Keep reading to know more.
How to Choose the Best Insurance for School Bus?
An best insurance for school bus has multiple features, and selecting a particular one from various offerings can be challenging. However, if you are considering opting for a school bus insurance policy, here are the factors you should note.
- Factor in Your Requirements
Before buying a best insurance for school bus, it is important to understand the requirements first. Most leading insurers in India provide two types of insurance plans which are liability only and standard package. For the liability only plan, damages caused to the third party will be covered. Along with it, this plan will also cover the injury or death of the bus owner’s driver.
On the other hand, the standard package includes everything from the liability only plan and covers losses or damages of own bus caused by theft/accident, fire and natural calamities.
- Customise Your Coverage
A few of the leading insurance providers might allow prospective insuree the freedom to customise their insurance policy. As a result, you might need to buy a few add-ons that help provide additional benefits for an insuree.
- Know About Your Insurer
Besides knowing about different plans of an insurance policy, opting for a policy from a trusted insurer is essential. So, make sure that your insurer is trusted and check its CIN number and IRDAI Reg. No. for more details.
- Compare Different Plans
As mentioned earlier, there are many best insurance for school bus or any education institute bus. Therefore, you can check and compare different plans side-by-side to settle for the more beneficial one. In this regard, individuals must note that a comprehensive package will have higher premiums compared with a third-party insurance plan and covers all possible benefits.
- Check the Claim Process
During an emergency, a long claiming process can be daunting. Most offline insurance policies have an extended process to raise a claim and might take a considerable time for execution.
On the contrary, online insurance policies are easy to claim and are processed quickly without the hassle of any physical paperwork. For that, an insuree has to provide a few details such as policy number, date, time and location of the accident, and contact number of the insuree. So, before buying a best insurance for school bus policy, individuals must check the detailed claiming process for their policy.
Hence, opting for insurance for a school bus can provide multiple benefits for the insured product. For example, choosing commercial vehicle insurance helps comply with the law, protects against monetary drainage against unforeseen losses, etc. Furthermore, a few leading insurance providers also give the freedom to customise Vehicle IDV and raise fast claims against damages.