We all know how important it is to have a vehicle covered by insurance, but if you're using a minibus to transport people, standard coverage may not be adequate in the event of an at-fault collision.
This is mostly a matter of scale. If eight or ten different people are all injured in a collision, a standard policy probably won't be able to cover the medical payments for all of them, leaving you to make up the difference. The larger policy cap of minibus insurance makes it much easier to handle a high number of claims.
Minibus Insurance Features
There are three major forms of minibus insurance:
- Private use covers minibuses that are used for a single large family. This is an especially popular choice for families that are too big for a standard-size vehicle and decided to pick up a large van instead.
- Hire and Reward covers the use of minibuses for picking up passengers, accepting payments from them, and dropping them off at another location. Essentially, this is the use of minibuses as a taxi service.
- Business use covers minibuses that are used for any reason except private use or hire and reward. Groups that would need this format include churches, clubs, schools, organizations, and businesses that decide to pick employees up in a van rather than having all of them commute on their own.
As the owner of a minibus, you want to be sure that everyone inside of it is covered. The amount of insurance you need can vary depending upon how many people use the minibus as well as the purpose of its usage. Speak to a Mid-America Specialty Markets agent about how you plan to use the vehicle before asking for a quote. This will help you get the most affordable coverage while making sure everyone in the vehicle is adequately covered.