Motorcoach

How to Maximize Your Motorcoach Insurance Options

Posted on November 10, 2009 by Nicole Schlosser, Associate Editor - Also by this author

Page 1 of 2

[IMAGE]MET11risk-.jpg[/IMAGE]Motorcoach carriers looking to purchase or change insurance policies contend with several factors, and the process can seem complicated and costly. METRO Magazine spoke with industry experts to get some tips on what to consider and how to ensure you get the best coverage for your company.

First off, look into the several insurance companies that specialize in offering passenger transportation insurance, including Lancer Insurance, Shriver Insurance Agency, Transportation Insurance Brokers, and National Interstate Insurance Co., just to name a few. Because these companies offer products tailored to transportation, including driver safety training, it is a plus to seek them out when conducting your search.

Francis Walsh, vice president/senior underwriter, Lancer Insurance, says that the importance of "having an experienced insurance company familiar with handling passenger transportation claims cannot be overstated. Your customers are your livelihood, so how they are treated in the event of a claim is as important as anything your insurance company will do for you." He also points out that the more risk an operator can afford to take through liability and physical damage deductibles, the more premium savings they will see.

Relationship, safety culture key

Other factors to keep in mind when researching insurance benefits and costs are the needs and assets of your operation and how these will affect your policy.

The International Motorcoach Group (IMG) is comprised of more than 57 motorcoach tour and charter operators in North America. Its members vary in size and insurance needs. Steve Klika, president, says that coach operators need to understand that establishing a relationship with your insurance carrier is vital. "If I were to give some advice...when buying insurance, look at [it] not only on a short-term basis, but on a long-term basis. Take a look at the relationship [you're] going into." He contrasts the experience with buying home or auto insurance. "Don't look at it for just year-to-year, because the insurance company is going to want to know your experience, so in case you do have a bad year, they're not just going to bail out on you. And at the same time, in some cases by having a long-term relationship, it's going to have a [positive] impact on your premiums year-to-year," he explains.

View comments or post a comment on this story. (1 Comment)

More News

ABA Foundation's board plots future of group travel industry

Pledged to continue using the ABA's Marketplace as the focal point for raising funds for its Fund A Future scholarship campaign.

FlixBus European business sees 50% uptick over summer

Top destinations in summer 2018 were: Berlin, Paris, Munich, Hamburg, Prague, Frankfurt, Vienna, Amsterdam, Rome, and Milan.

8 die after Greyhound, tractor-trailer crash head on

The driver of the truck, who survived the head-on crash, was hauling produce from California to Tennessee when his semi blew a tire and the vehicle “just locked up."

Greyhound selects GoMedia, Icomera for on-board entertainment solution

Joins GoMedia’s portfolio of transport operators, including First Group, Eurostar, Virgin Trains, National Express, and Abellio.

Canada's Roam first to order new MCI D45 CRT LE Commuter Coaches

Coaches will serve Roam’s longest-distance route — a 45-minute commute — connecting the town of Banff and Lake Louise.

See More News

Post a Comment

Post Comment

Comments (1)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation