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Coach Insurance – A Must for a Coach Operating Business

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coach insurance tipsWhen you are in a coach operating business, it means you transport people and so, you are responsible for their safety. Therefore you need the correct type of insurance to cover any damage to your vehicles and injuries to passengers in case of a road accident. You might be running a tours and travel company, or operate a coach for transporting passengers to and from airport and hotel. You might also lease coaches for schools, sports teams or senior citizens. In any case, coach insurance is a must for you.

Types of Coaches Covered by Coach Insurance

Many types of commercial coaches are available and they are classified by their overall use. There are coaches, school buses, charter buses and tour buses. As each of these vary a lot in their functions, usage and environment, coverage for each also differs.

Tour coaches and charter buses are booked many times in a year. They also run for greater distances and across the boundaries of states. On the contrary, school buses are limited to enrolment or district boundaries, carry children and they too are in use. The coverage provided to different types of coaches varies based on the number of miles they cover and frequency of their hiring. Therefore you should approach a knowledgeable agent who can help you evaluate your needs and find right coach insurance for you.

Coverage

The coverage provided by the coach insurance can be split up into many types. As a coach is big-sized, it can incur a large amount of damage in an accident. Therefore it is important to assess the correct limits of your coverage according to the potential expenses of an accident.

Typically coach insurance includes:

  • Liability Insurance: This is the most important coverage. It offers cover to your company in case if one of your coaches gets involved in an accident wherein you or your driver is at fault. This coverage has two parts, namely bodily injury and property damage. Bodily injury covers cost of medical care for the injured passengers or driver, while property damage pays for damage caused to other people’s vehicles or property.
  • Collision Coverage: This covers damage to your coach in an accident, no matter who is at fault.
  • Medical Payment Coverage: Covers yours as well as your passengers’ medical expenses.
  • Comprehensive Coverage: This is also called “other than collision” coverage and it covers you for loss caused by things like theft, fire, vandalism or damage from a substance.
  • Uninsured/Underinsured Motorist: This provides you cover if your driver has no or inadequate insurance to pay for your damage.

You can also add riders depending upon your particular needs. Also you may like to consider excess liability coverage, named as umbrella policy, which can increase your coverage limits dramatically.

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