Charter and tour bus companies are a reliable and efficient way to transport large groups of people. Whether it’s a school field trip, a wedding party, or an employee outing, charter, and tour bus companies offer an affordable and enjoyable way to get to and from your destination.
However, with the increased number of passengers comes an increased risk of accidents and injuries. Having the right is essential to protect your business and your passengers.
Charter and tour bus insurance is a specialized form of commercial insurance that provides coverage for operators of charter and tour buses. It protects both the business and its passengers in the event of an accident or injury.
Who Needs Charter and Tour Bus Insurance?
Charter and tour bus insurance is required in most states for any business operating a charter or tour bus. This includes companies that operate charter buses for school field trips, wedding parties, employee outings, airport shuttles, and other types of group transportation. This insurance is also required for companies that own, lease, or rent charter or tour buses.
Types of Charter and Tour Bus Insurance
This type of insurance typically includes liability coverage, physical damage coverage, uninsured motorist coverage, and medical payments coverage.
Liability coverage provides protection against claims of bodily injury, property damage, and personal injury caused by the negligence of the business or its employees. This coverage also protects against libel, slander, and copyright infringement claims.
Physical damage coverage protects the bus itself in the event of an accident. This coverage typically covers repairs to the bus, replacement parts, and towing expenses. It can also provide coverage for other vehicles involved in the accident.
Uninsured/underinsured motorist coverage provides protection against the costs associated with an accident caused by an uninsured or underinsured driver. This coverage can also protect the passengers on your bus.
Medical payments coverage protects the medical bills of passengers injured in an accident. This coverage can also provide coverage for medical bills of the drivers of other vehicles involved in the accident.
Other policies might include cargo coverage, passenger legal liability coverage, and non-owned vehicle liability coverage.
Cargo coverage provides protection for the cargo you are transporting, such as luggage, packages, or other items. It can provide coverage for loss or damage due to an accident or theft.
Passenger legal liability coverage provides protection for passengers in the event of an accident. This coverage can provide coverage for medical bills, lost wages, and other expenses related to an accident.
Non-owned vehicle liability coverage provides protection for vehicles not owned by the business. This coverage is important for businesses that rent or lease vehicles for their operations.
How Much Does Charter and Tour Bus Insurance Cost?
The cost of charter and tour bus insurance varies depending on the type and amount of coverage you need. The size of your business, the number of buses you operate, and the number of passengers you transport will all affect the cost of your policy.
Charter and Tour Bus Insurance Requirements
Most states have legal requirements for charter and tour bus operators. These requirements vary from state to state, so it’s important to check with your state’s Department of Transportation for the specific requirements in your area.
In general, most states require charter and tour bus operators to carry liability insurance with minimum coverage limits. Additionally, most states require charter and tour bus operators to carry uninsured/underinsured motorist coverage.
Commercial Insurance And Business Industry Classification
- SIC CODE: 4141 Local Bus Charter Service, 4142 Bus Charter Service (except local), 4173 Bus Terminal and Service Facilities
- NAICS CODE: 485510 Charter Bus Industry, 485210 Interurban and Rural Bus Transportation, 487110 Scenic and Sightseeing Transportation, Land
- Suggested Workers Compensation Code(s): 7382 Bus Co. – All Other Employees & Drivers, 8385 Automobile – Rental Co. – Garage Employees, 8810 Clerical Office Employees NOC
Charter and Tour Bus Insurance -The Bottom Line
Charter and tour bus insurance is an important part of running a successful business. With the right coverage in place, you can help protect your business and your passengers in the event of an accident or injury.