School buses can be one of the trickiest items to insure for a charter school.   Not only do they present a unique risk, but every state has particular guidelines on what type of limits your charter school needs to purchase, the A.M. Best rating of the insurance carrier, hiring procedures, etc.

Since only a limited number of insurance companies are willing to offer this type of insurance coverage for charter schools, we thought we would share some insight into what types of insurance companies and coverages you should look for.

Insurance Carrier Eligibility

Any insurance company you are looking to insure your school buses should be rated at least A- IX by A.M. Best.  This will prove they are probably strong, reputable that will be there to be a claim if necessary.

Coverage Offered

When evaluating a potential policy, we recommend looking at the following coverages:

• Auto liability
• Physical Damage (Comprehensive and Collision)
• Hired & Non-Owned Liability

Any other package coverages besides those above are excellent, but make sure you have at least the three listed above.

Coverage Limits

Most states require a minimum liability limit of $5,000,000 per accident to own a school bus properly.  Make sure any insurance company you look at can offer those limitations.

If you would like to learn more about school bus insurance for your charter school, please get in touch with us to find out more.