What Types of Insurance Should School Systems Have on Buses

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In many parts of the country, school is back in session. And with the new school year, come new students and new school bus routes. Now that your schools’ buses are back on the road, it’s a good time to ask yourself: “When’s the last time I made sure my fleet of buses has the most up-to-date insurance?”

Making sure your school buses are properly insured is crucial to protecting your school financially. Since insurance plans are much different for buses than they are with automobiles. Do you have a thorough understanding of what the policy entails, as well as how much coverage you really need?

First, it’s imperative to know the differences between auto and bus insurance. This begins with vehicle classification. The article “School Bus Requirements for Auto Insurance” defines a bus as a passenger transportation vehicle whereas a car is a personal use vehicle. And because a bus can hold more people, it requires the driver to have a commercial driver’s license.

Because buses are passenger vehicles, the auto insurance requirements differ from standard auto insurance requirements, and they often also vary by state. To determine your state’s requirements, contact your state’s Department of Motor Vehicles for the requirements. In general, most states require greater liability coverage on school bus insurance policies for the driver, passengers and school system.

But why are insurance requirements higher for buses? To put it simply, the more passengers a vehicle can carry, the greater the risk of injury resulting from accident. With the proper liability amount from insurance, it can provide you with the financial protection you need in the unfortunate event an accident occurs.

Is it time to update your school system’s school bus insurance? Contact Lamb Financial Group for assistance in finding the right auto policy for your bus fleet.

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