Emergency services were called to the scene near Dunain, Inverness, on Saturday afternoon.
Police said the incident involved a car towing a caravan and a Volvo coach.
The woman died of her injuries and the coach driver was taken to Raigmore Hospital in Inverness, where he was said to be in a stable condition.
Police have not said how many people were on the coach at the time of the crash, but it is known that no-one else was injured in the collision.
Wreckage from the crash was strewn down an embankment at the side of the road.
Police Scotland appealed for any witnesses to the incident to come forward with information.