The main benefits of taxi insurance are that it will insure the serving to the driver, passengers, other vehicles and their passengers.
We know that for a taxi driver their taxi is more than just a transport, and that it is essential for their business therefore it must be protected in the best possible way. It will definitely be a good idea to obtain some additional insurance, besides the legally required cover, on your vehicle to safeguard your business and income.
The key types of taxi insurance
Comprehensive Coverage – This insurance might be the best type of insurance as it will cover any kind of road incidents and accidents, whether the driver is liable or not and this allows the driver to make claims for theft and vandalism.
Third party Fire & Theft – This is an cheaper alternative (around 10%) of insurance that a taxi driver can opt to take. Covering situations where a vehicle is stolen, attempted theft or catches on fire. However, if you are in an accident and it’s found to be your fault, this insurance policy only covers third party vehicles involved in an accident and not repairs to your own.
Third party only – This is the lowest legally allowed insurance that a taxi driver is obliged to take, but this insurance does not cover if the vehicle is stolen, catches on fire or own damage. If you are in an accident and it’s found to be your fault, this insurance policy only covers third party vehicles involved in an accident and not repairs to your own.
Other Optional Extras Include (at an additional premium);
Breakdown Recovery – Breakdown recovery offers support when your vehicle breaks down. This insurance is an absolute must if you consider how much driving that the average taxi driver must do.
Public Liability – This insurance will help in case of finding yourself in the position of being liable for any damages during an accident/incident.
If you are looking for a taxi insurance then please keep TaxiINS in mind, we can guarantee a great personal service at very competitive price.