Bus Insurance Online
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2000+
Cashless Garages
96% Claim
Settlement Ratio
60 Lakh+
Policies Sold
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Buy Commercial Vehicle Insurance Online
It's a Brand New Vehicle
2000+
Cashless Garages
96% Claim
Settlement Ratio
60 Lakh+
Policies Sold
Table of Contents
What is Bus Insurance?
Types of Buses Covered?
Here are the types of buses covered under commercial bus insurance policy:
- School Buses: Buses that are part of an educational institution such as a school or a college and are used primarily for student transportation can be covered under this policy.
- Public Buses: Buses owned and run by the government, used to transport passengers within the city or from one city to another too, can be covered under this policy.
- Private Buses: Buses owned by private organizations such as tour buses or buses used by offices for their employees too can be covered under this policy.
- Other Passenger Carrying Buses: All other types of commercial buses and vans used for the purpose of transporting passengers from one place to another are covered under this policy.
Why Should I Buy Bus Insurance Policy?
Having a commercial bus insurance policy is important for financial safety and is also mandatory by law in India. Here are other reasons why you should buy a bus insurance policy:
1. Protection from Unforeseen Losses: Whether it’s due to damages to a third-party or your own bus, a bus insurance ensures you’re covered for it all, thus preventing business losses and avoiding any troubles that may come in the way of your daily logistical operations.
2. Comply with the Law: As per the Motor Vehicle Act, it is mandatory for all vehicles, especially those used for commercial purposes, to at least have a third-party commercial bus insurance policy to protect against any potential third-party damages and losses. Without one, you will be liable to pay a fine, if caught.
3. Covers for Owner-Driver: A bus insurance not only covers losses and damages to your vehicle or third-party vehicle, but also covers any bodily injuries or the like for its owner-driver.
4. Passenger Protection: As part of every commercial vehicle insurance, you can opt for an additional endorsement to cover for your passengers too, in case of any unfortunate situation such as an accident, fire or natural calamity.
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Is it Important to Get School Bus Insurance?
Is it Important to Get Commercial Bus Insurance?
Why Choose Bus Insurance by Digit?
We treat our customers like VIPs, know how…
Customize your Vehicle IDV
With us, you can customize your vehicle IDV as per your choice!
24*7 Support
24*7 call facility even on National Holidays
Super-Fast claims
Smartphone enabled self-inspection processes takes minutes!
Digit’s Motor Insurance Claim Settlement Ratio is 96% for FY’25
When it came to motor insurance specifically, Digit showcased a high-efficiency Claims Settlement Ratio (CSR), with 96% of motor claims settled seamlessly and we make this simple with:
Smartphone-enabled self-inspection process, with which you can file your claim in minutes!
Cashless Claims at over 9000 garages in India, so you can get your two-wheeler fixed without stress.
Everything digital and paperless. No need for hard copies—just upload everything on our app, and you're all set!
What Our Customers Have to Say about Us
Digit Motor Insurance in News!
Key Features of Bus Insurance by Digit
What's Covered in Bus Insurance?
Accidents
Damages and losses caused to your bus due to an accident.
Theft
Any damages and losses caused to your bus in the case of a theft.
Fire
Any damages or losses caused to your bus in an unfortunate case of fire.
Natural Disasters
Any damages and losses caused to your bus due to floods, earthquakes and other natural calamities.
Personal Accident
Covers for any personal injuries or death of the owner-driver of the bus.
Third Party Losses
Covers for losses and damages caused to a third-party vehicle, property or person due to your bus, in the case of an accident or collision.
Towing Disabled Vehicles
Covers for any damages caused to the bus in cases where it's being towed.
What’s Not Covered?
It is equally important to know what’s not covered in your commercial bus insurance policy so that there are no surprises when you make a claim. Here are some such situations:
Types of Bus Insurance Plans and Coverages
Based on the type of bus you own or fleet of buses to be insured, we have primarily two plans to choose from:
1. Comprehensive Plan: Securing your commercial or school bus with a comprehensive commercial vehicle insurance gives you peace of mind as this plan covers your own vehicle as well as third-party liabilities against damage or loss in an unfortunate accident. Therefore, with a comprehensive bus insurance plan you are financially protected against injuries, damage, natural disasters, and theft.
The plan also allows you to further enhance your insurance coverage by offering an option to choose from suitable add-ons available.
2. Third-party Liability Only Plan: With a third-party liability only commercial vehicle insurance plan, you secure your commercial or school bus against damage, loss or injury to third-party property or person due to your vehicle. Also, it is mandatory to have at least a third-party insurance policy in India.
The Liability Only Plan doesn’t offer the option to opt for add-ons and the bus insurance price for this plan is fixed by IRDAI.
Compare Coverage of Third Party vs Comprehensive Bus Insurance
Liability Only
Standard Package
|
Damages caused by your bus to any third-party person or property. |
✔
|
✔
|
|
Damages caused by your bus to a third-party vehicle. |
✔
|
✔
|
|
Loss or damage to own bus due to natural calamities, fire, theft or accidents. |
×
|
✔
|
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Injury/death of bus owner-driver If the owner-driver doesn’t already have a Personal Accident Cover from before. |
✔
|
✔
|
How to Buy/Renew Commercial Vehicle Insurance Policy with Digit?
Enter Vehicle Details
On the Digit App or website, enter the vehicle registration number and select the policy status.
Choose a Plan
Select the type of vehicle insurance plan and choose desired add-ons.
Enter Personal Details
Enter your personal, nominee and vehicle details, and move to the next step.
Make Payment
Complete the payment and mandatory KYC verification process.
That's It!
You’ll receive the policy document via email, SMS and WhatsApp. Also, you can access it 24X7 on the Digit App.
Documents Required to Buy Commercial Vehicle Insurance Online
To buy Digit commercial vehicle insurance online, a load of paperwork is not required. Furnish only the following documents to buy a new two-wheeler insurance policy within minutes:
Registration Certificate
Previous Year Insurance Policy
A Previous Year Insurance Policy refers to the auto rickshaw insurance coverage you had for the previous policy term, typically valid for one year. It includes details like:
- Policy Number: Unique ID of your old insurance plan.
- Coverage Type: Whether it was third-party or comprehensive.
- Insurer Details: The company that provided the coverage.
- Policy Expiry Date: The date the previous insurance lapsed.
- No Claim Bonus (NCB): A discount earned if no claims were made.
Documents for KYC Verification
69% Motor Repair Work Approvals Done within 12 Hours
In H2 FY25, our average vehicle repair approval time was 15 hours and 36 minutes, with 69% of approvals completed within 12 hours. Only 7.47% of cases experienced longer wait times, typically due to complex assessments or the need for additional documentation, highlighting our commitment to minimising delays and maximising efficiency.
Rest assured, we carefully monitor every step to ensure your vehicle is back on the road as swiftly as possible!
Ombudsman Complaints for FY 2024-25
The below information is a summary of escalated claim cases reviewed by the Hon’ble Ombudsman in FY 2024–25.
Disclaimer: ^This data pertains to cases reported to various offices of the Hon’ble Insurance Ombudsman. Customers have the option to approach the Consumer forum as well; #Only includes complaints arising from claims. The company had a total of 11 complaints arising from non-claims, i.e., policy-related grievances (5 won, 2 settled, 1 lost, and 3 outstanding). One non-claim complaint where the decision went in favour of the complainant is not included in the numerator while calculating claims accuracy.
How to File Claim & Track Real-time Status through Digit App?
Login
Open the Digit App and go to the "File Motor Claim" option. Login and you'll be directed to the "File Motor Claim" page. Click on the policy card to start claim filing.
Provide Details
Fill in all the details related to the accident and damage to the commercial vehicle.
Enter Personal Details
Update your personal details and that's it, your claim is successfully filed, and you will receive the next steps on your email & WhatsApp.
How to Download Your Commercial Vehicle Insurance Policy on Digit App?
To download your renewed or already active Commercial Vehicle insurance policy with Digit, follow the given steps:
Login to Your Acount
Visit the Digit website or app and click on ‘Login’ at the top-right corner. Enter your registered mobile number and verify with OTP.
Visit ‘Active Policies’
Once logged in, navigate to the Active/My Policies section. Here, you can check the policy number, end date & start date.
Download the Policy
Done! You can save, share, print or email the policy for future reference anytime, anywhere.
Tips to Choose the Right Bus Insurance Policy
To choose the right bus insurance online for your bus, it’s important to compare and evaluate the following factors:
1. Right Insured Declared Value (IDV): IDV is nothing but the market value of your bus. Everything from your bus insurance premium to your claim payouts is dependent on the vehicle’s IDV. So, ensure that you pick an insurer that gives you the right and true IDV for your bus.
2. Service Benefits: Consider services such as 24x7 Customer Support and a wide network of cashless garages, among others. In times of need, these services really matter.
3. Review Add-Ons: Add-ons help extend the kind of coverage your bus will receive. For example, our additional endorsements include covers like Personal Accident Cover, passenger cover, compulsory deductibles, electric accessories cover, etc.
4. Claim Speed: It’s the most important aspect of any insurance. Pick an insurance company you know will settle claims quickly.
5. Best Value: After you’re done comparing all the above factors, compare bus insurance premiums and see which one gives you the best possible benefits at a good price.
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Factors Affecting Bus Insurance Premium
There are various factors that will ultimately affect your bus insurance rates, such as:
1. Model, Engine & Make of the Vehicle: There are different types of buses in the market. Each one of them comes with its own set of features and level of risks. Therefore, your bus insurance rates will largely be affected by the make and model of your bus.
2. Location: Every city and town come with its own level of risks. Some are safer than others, while some are more expensive than others. Therefore, depending on the city you operate your bus in, your bus insurance rates will differ accordingly.
3. No-Claim Bonus: If you’ve already had a bus insurance for your bus before and are currently looking to renew your policy or get a new insurer- then, in this case, your no claim bonus will also be considered, and your bus insurance premium will come at a discounted rate! A No-Claim Bonus refers to the fact that the respective bus hasn’t had a single claim in the previous policy term.
4. Type of Insurance Plan: Whether you want to go for a third-party liability insurance plan for your bus or comprehensive bus insurance; the bus insurance premium for the two will differ since the coverage benefits offered in each of these plans would be different.
FAQs about Passenger/School Bus Insurance
Content Writer
Storyteller at heart, Manasvi brings 4 years of content and marketing experience to Digit. Whether it's writing SEO-optimised articles or a researched and insightful blog, she strives to transform ideas into creating impactful and engaging content.
Product Head - Motor
Mayur specializes in motor insurance and is responsible for overseeing the development and management of motor insurance products. With expertise in product strategy and market analysis, he focuses on developing customer-centric insurance solutions.