School Buses & Vans (Passenger Carrying Vehicles) Insurance Policy

A traveler carrying vehicle protections approach ensures the back up plan against the harms and or misfortunes that will emerge from any sort of mischances to the vehicle too against the third party liabilities counting obligation to the travelers .

Types of Policies Available:

Third-party Liability Insurance: A third party arrangement covers any risk emerging out of real damage or property harm caused to a third party. It is required .

Package Policy (Comprehensive Policy): A comprehensive arrangement will ensure you against any misfortune or harm to the vehicle as well as third party liabilities including the vehicle within the occasion of an mishap .

Comprehensive Policy - Loss or damage caused by:

  • Fire blast , self ignition, or lightning
  • Burglary, burglary , or burglary
  • Riot and strike
  • Seismic tremor fire and stun harm
  • Surges , tropical storms , storms, tropical storms , etc.
  • Coincidental outside implies
  • Malicious act
  • Terrorist activity
  • Amid travel by road lift elevator rail air inland waterway
  • Landslide, rockslide

Third-party Liability Policy: The arrangement will cover the risk as per the MV Act towards the passing of or real harm to any individual , harm to third party property caused by or emerging out of the utilize of the vehicle, counting the claimant s fetched and costs .

Not Covered

The insurance policy may exclude the following:

  • Significant misfortune , deterioration , wear and tear, mechanical or electrical breakdown, disappointments , breakages, harm caused by over-burdening or strain of your vehicle.
  • Misfortune of or harm to embellishments by burglary, burglary , or robbery unless your vehicle is stolen at the same time.
  • Harm to tires and tubes, but when the vehicle is harmed at the same time, in which case the back up plans is as it were dependable for 50 of the taken a toll of substitution .
  • Any inadvertent misfortune or harm supported beneath the impact of liquor or drugs.
  • Passing or substantial damage emerging out of or within the course of the insured s work , but as required by the Engine Vehicle Act.
  • Any claims coming about from any legally binding risk .
  • Any inadvertent misfortune harm and or obligation caused in case your vehicle hasn t been utilized as expressed in Limitations as to Use or in the event that it is being driven by somebody other than the driver said within the driver s clause.


There are different factors that affect the premiums:

Third-party Policy: The IRDAI decides third party protections rates based on the traveler carrying capacity.

Package Policy: Premium is calculated based on:

  • Geological Zone India is separated into different geological zones, and the premium rates may change from one zone to another.
  • Age of the Vehicle
  • Guarantor Pronounced Esteem IDV IDV is the most extreme entirety guarantor beneath a approach . The premium is calculated as a rate of the IDV.
  • Seating Capacity The number of travelers the vehicle is outlined to carry influences the premium. Vehicles with higher seating capacity may have higher premiums.
  • Extra Covers Distinctive protections suppliers offer distinctive choices.

More Covers

Nil Depreciation: This add on forgoes devaluation on plastic and metal save parts which will require supplanting on the off chance that harmed in a substantial claim.

Personal Accident Cover for Passengers: This add on gives scope to travelers within the vehicle at the time of the mishap within the occasion of damage or passing .

Return to Invoice: The add on ensures the receipt esteem of the vehicle as restricted to its guarantor announced esteem .

Consumables Cover: Consumables such as nuts and jolts , motor oil, etc. are secured for a greatest of two claims beneath this add on.

NCB Protection: Secures no claim reward markdown on your premium in the event that a claim is recorded amid the arrangement term.

Required Excess

A deductible is an sum that you simply are required to pay out of pocket some time recently your insurer steps in to settle the claim. Usually a settled sum chosen based on two variables , i.e., Vehicle sort and Cubic carrying capacity of the vehicle.