Your business depends on your vehicles every day as an essential part of your operations. This is why you need Commercial Auto insurance to help protect your business in case of an unexpected event. Commercial Auto insurance will cover the collision damage costs, medical payments and damage from a covered natural disaster.
General Liability insurance protects your business from a variety of claims including personal injury, property damage and advertising mistakes that can arise from your daily operations. This insurance will cover for the costs of the damage to third-party property and liability damage for which you are legally liable.
Workers' Compensation insurance offers wage replacement and medical benefits to employees who become sick or injured on the job. This, in turn, relinquishes them of the rights to sue your business for negligence.
Umbrella Insurance is an extra liability insurance that is designed to protect your business from major claims and lawsuits that are in excess of your existing coverage limits. It sits on top of your existing insurance policies and will be used once your insurance policies reach their limits so that you won't have to pay out of pocket.
Establishments in this industry cover two key areas: mass and commuter transit, and for-hire charter bus services. Businesses include city bus services and other commuter bus services covering local and suburban transportation, and charter bus services that transport locally, regionally or nationally. This industry includes bus services with regular, scheduled routes between cities and states.
Bus Transportation needs insurance because it can protect your business finances from defending against claims and lawsuits that are not only costly but very time-consuming. Without insurance, the payments for the claims and lawsuits could be taken out of your business finances and potentially lead to bankruptcy.
The most common risk a Bus Transportation business faces is accidents. Accidents that can be extremely costly to your business since you are transporting a lot of people. People involved in an accident could sue your business when medical compensation is not considered enough. Property damage from the accident, possible collision damage from other vehicles and the cost to repair or replace the vehicles. Without insurance, all these expenses come out of your pocket.
There is no average insurance cost for Bus Transportation, but consider some of these sample scenarios:
The average total business insurance cost for your business is around $1500 per year.
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