Minibus Insurance

Minibus insurance provides cover against damage to the vehicle, passengers and contents, as well as liabilities faced by the minibus owner or operator due to unforeseen circumstances.

Most nations require a minimum of third party minibus insurance. However, there are other types of insurance also available in the market, such as third party plus fire and cover and comprehensive insurance. Third party insurance pays for injury or damage to another person caused by an insured minibus. Additional fire and theft covers pay for damage if the vehicle is subjected to fire or is stolen. In the UK, a minibus commercial operator should necessarily have indemnity insurance worth £5 million.

Types of Minibus Insurance

The types of minibus insurance and cover depend on the use and ownership of the vehicle. Based on these differences, there are five broad types of minibus insurance:

MPV Insurance: MPV refers to a multi-purpose vehicle. This policy is meant for commercial operators. Apart from basic insurance, it covers passenger and cargo safety.

Taxi Insurance: This policy is meant for minibus owners who use the vehicle for taxi services. It also offers passengers and liability insurance.

Family Minibus Insurance: This covers personal use of the vehicle, including travel through minibus.

Charity Minibus Insurance: This policy is specially designed for charity institutions that use a minibus.

Fleet Insurance: This offers cover to an organization with two or more minibuses in use.

Most insurance companies offer a wide range of additional insurance benefits with minibus insurance. These include breakdown cover, recovery assistance, no claims bonus and public liability cover.

Tips to Save on Minibus Insurance

Reduce the number of named drivers under the policy.

Drive safely to earn a no claims bonus and to maintain a good driving record.

Ensure a garage to park at night.

Opt for a minibus insurance policy that requires annual payment of premium charges.

Avoid paying for cover that is not needed.

Undertake a specialist driving course to minimize the risk of accidents.

In order to buy a cost-effective insurance policy, it is essential to look through quotes from several insurers. Insurance companies are upgrading their services, with 24×7 helpline numbers and call centre assistance available. Also remember to consider the profile of an insurance company while buying a policy.