Bus Insurance Price

As per insurance regulatory in India Bus Insurance cost is 25126 plus GST for a 12 seater bus with third party coverage only. For buses with more sitting capacities please refer to below bus insurance cost list or get an exclusive quote from us.

bus insurance online

Key features of Commercial/Private Bus Insurance

Key FeaturesBenefits
Damages to third partyTPPD cover up to 7.5 lac & Unlimited for liabilities.
Accidental CoverageUp to sum insured.
Theft CoverIncluded in comprehensive policy.
CostStarts from 24500
key features of school bus insurance policy

What’s covered in Bus Insurance?

The Company will indemnify the insured against loss or damage to the bus
insured hereunder and/or its accessories whilst thereon:
i. by fire explosion self ignition or lightning;
ii. by burglary housebreaking or theft;
iii. by riot and strike;
iv. by earthquake (fire and shock damage);
v. by flood typhoon hurricane storm tempest inundation cyclone hailstorm frost; vi.
by accidental external means;
vii. by malicious act;
viii. by terrorist activity;
ix. Whilst in transit by road rail inland waterway lift elevator or air;
x. by landslide rockslide.
Subject to a deduction for depreciation at the rates mentioned below in respect of parts replaced:

  1. For all rubber/nylon/plastic parts, tyres, tubes, batteries and air bags – 50%
  2. For fibre glass components – 30%
  3. For all parts made of glass – Nil

Rate of depreciation for all other parts including wooden parts will be as per the
following schedule

Age of vehicle% of depreciation
Not exceeding 6 months0
Exceeding 6 months but not exceeding 1 year5
Exceeding 1 year but not exceeding 2 years10
Exceeding 2 years but not exceeding 3 years15
Exceeding 3 years but not exceeding 4 years25
Exceeding 4 years but not exceeding 5 years35
Exceeding 5 years but not exceeding 10 years45
Exceeding 10 years50

What’s not covered in Commercial/Private Bus Insurance Policy?

Following are the exclusions when your vehicle is not covered in this policy
• General Wear & Tear
• Any loss or damage to tata ace due to war, invasion or nuclear warfare etc.
• Mechanical or electrical breakdown of the vehicle.
• Any loss or damage caused outside the geographical area of coverage as mentioned in the policy.
• Usual depreciation of the vehicle value.
• Driving without appropriate driving license.
• Non-accidental losses.
• Any loss occurred to vehicle while using the vehicle for racing or any illegal purposes.
• Any losses occurred while drunk driving the vehicle.

Types of Bus Insurance

  1. Private Bus Insurance – In private bus insurance bus uses are limited to personal usage of an institution like for transporting employees of the company. Private bus insurance cost starts from 28500 for a 13 seater bus. For other buses you can get a quote from us or refer the bus insurance price list on policymeter.com
  2. School Bus Insurance – School Bus insurance provide coverage against the damages to buses owned/used by educational institutes in case of any accident, theft, fire or any manmade & natural calamities.
  3. Passenger Bus Insurance – Passenger carrying vehicles with sitting capacity more than 6 passengers comes under this category. Passenger bus insurance price is general more expensive than private/school bus insurance as they posses higher risks of accidents and third party damages.

Personal Accident cover for owner driver in bus insurance

Subject otherwise to the terms exceptions conditions and limitations of this policy, the Company
undertakes to pay compensation as per the following scale for bodily injury/ death sustained by the
owner-driver of the bus in direct connection with the bus or whilst mounting
into/dismounting from or traveling in the insured vehicle as a co-driver, caused by violent accidental
external and visible means which independent of any other cause shall within six calendar months of
such injury result in:

Nature of injuryScale of compensation
Loss of two limbs or sight of two eyes
or one limb and sight of one eye
Loss of one limb or sight of one eye50%
Permanent total disablement from injuries other than named above100%

Personal accident cover for paid driver, cleaner & conductor

In consideration of the payment of an additional premium in bus insurance, it is hereby understood and agreed that the
insurer undertakes to pay compensation on the scale provided below for bodily injury as hereinafter
defined sustained by the paid driver/cleaner/conductor in the employ of the insured bus
connection with the vehicle insured whilst mounting into dismounting from or traveling in the insured
vehicle and caused by violent accidental external and visible means which independently of any other
cause shall within six calendar months of the occurrence of such injury result in :-

Nature of injuryScale of compensation
Loss of two limbs or sight of two eyes
or one limb and sight of one eye
Loss of one limb or sight of one eye50%
Permanent total disablement from injuries other than named above100%

How to file for a claim

If you want to register a claim for you bus you should immediately inform the insurer in case of any accident or damage that has occurred to the vehicle. 

You can inform the insurer by reaching out to them via a toll-free number which is usually mentioned on all policy copies or you can also reach them via email. The file a claim is you need to fill the claim form which is available on all insurer websites.

Documents required 

Following is the list of documents you should keep handy while filing the claim for your commercial bus
Filled claim form
Bus Registration certificate and Driving license
Fitness certificate of the bus
Load Challan
Tax Slips
Original Insurance copy. (Print of soft copy is also valid)
Aadhar Card
Route Permit of the bus.
First Information Report copy 

Add on covers available

  • Zero Depreciation Cover
  • IMT 23 Cover
  • Paid Driver Cover
  • Owner Driver Cover
  • Cover to other employees such as conductor or coolie
  • No Claim Bonus Protection Cover

FAQs about bus insurance in India

How much does private bus insurance cost?

Private bus insurance cost is 28500 for a 13 seater bus with third party coverage. Private bus third party insurance cost mainly depend upon the sitting capacity.

Can I buy commercial bus insurance policy online?

Yes, you can buy insurance for your commercial bus online in India from policymeter.com All you need to is to share rc copy and old insurance copy if available to get the best quotes from us.

What is the price for a third party school bus insurance policy?

Third party school bus insurance policy price is 29785 for a 14 seater passenger carrying bus.

What is the difference between private bus insurance and commercial bus insurance?

Private bus insurance provide claims in case of any accident or loss to buses which are used for private purposes of insured while commercial bus insurance provide coverage to all type of bus usage.