School Bus Insurance Price In 2022
June 1st, 2022 turned out to be a great day for school bus owners in India when IRDA announced new third party insurance price list for all motor vehicles in India in which All vehicles which are registered on the name of any educational institute will have to pay 15% less insurance premium than 2020-21.
The new rate list is effective from June 1st 2022 so if you are planning to buy insurance for school bus after 1st June 2022, expect a low cost from your agent and do refer this article if you seem there is not much difference from your last premium in quotes provided by your agent. On policymeter we are giving extra offers clubbing with latest premium discount in India. You can request an exclusive quote below.
School Bus Insurance Cost In India
School bus insurance cost is 24050 Rupees for a 12 seater bus in India for a third party liability only policy which provide coverage to third party property damages up to 7.5 lac rupees and protect against financial liabilities toward third party deaths or injuries. You can also included Liabilities to paid driver, conductor by paying 50 Rs. cost for each.
Comprehensive or First party school bus insurance cost depends upon the sum insured required and claim history and varies also on few other factors. You can calculate or compare school bus insurance premium online on policymeter and get free quotes within minutes.
Do I need to pay extra insurance price if I use my school bus for personal use
All school buses get usage permits from RTO authorities in India and the use of vehicle if registered under an educational institute should only be for activities related to the school/college or institute only and no other usage should be allowed such as using for private purpose of any individual or using it for public transportation which will lead to rejection of claims at the time of accident and can cause huge losses to school bus owners.
What are the requirements for school bus insurance
To file a claim in school bus insurance, you need to keep following documents handy –
- RC or Registration Certificate of the school bus.
- Driving License (original copy is required and xeroxes are not valid)
- Aadhar Card of the insured.
- FC or Fitness certificate which should not be in expired state while filing for a claim.
- Duly completed and signed claim form.
- Receipt of tax payments such as state tax payment if the insured school bus travelled to other state than its primary registered state and had an accident there.
- All other original Bus Papers such as Insurance certificate.
Is there any school bus insurance calculator where I can calculate premium for my school bus all by myself?
Yes you can use Free Motor Insurance calculator available for android and iphones by visiting Google play store and calculate premium for your school bus or you can also calculate it online on policymeter.com and get quotes from multiple insurers with latest applicate discounted premiums.
Resources and Material Info
Download Latest IRDA’s Official Motor Insurance Price List 2022