What is taxi insurance?
輪椅的士服務 is really a safety cover for taxis. The frequency of road accidents has risen like nothing you’ve seen prior. In that dangerous scenario, cab drivers and the cab are both at high risk since almost all their working time is spent traversing the high traffic ridden roads. In case of accidents, taxi insurance provides different kinds of covers like road damage, car damage, third party damage, passenger injury cover and legal cover. Taxi owners can choose covers that they feel they are most likely to use. Taxi insurance is a back-up for taxis and their drivers.
What is the need of auto insurance?
The answer to the question is the same as for the question regarding necessity of insurance for an exclusive car. In the event of taxis, the chance is more pronounced because taxis tend to be more exposed to the chance of accident and damage on the highway. Further, passengers cannot be held responsible to cover damage if they are in the taxi when the accident occurs. The complete monetary burden falls on the shoulders of the taxi owner. Taxi insurance provides cover in times of accidents. It offers monetary relief to taxi owners by covering for various damages. Lawsuits cause major expenditure if another party involved in the accident files it against the cab company. Since lawsuits devote some time and money, having an insurance to fall back on could be a huge respite in scorching situations.
What are the forms of taxi insurance?
Auto insurance is of two types – private hire insurance and public hire insurance. Private hire services are services where the taxi transports passengers only if they have booked beforehand. Public hire services are the services where in fact the taxi may be booked in either advance or hailed off on the highway. Insurance is provided for both these kinds of taxis services. Generally, private taxi hire insurance is cheaper than public hire insurance. The insurance policy needs to be chosen keeping in mind the kind of services that the taxi company mostly provides.
Insurance for the whole taxi fleet
Many taxi companies have significantly more than one vehicle. In order to save costs, insurance could be taken for the whole taxi fleet instead of a single insurance for each taxi. However, insurance firms have limits while giving fleet insurance like the minimum number of cars. Even though monthly premium for fleet insurance is a lot more than that for an individual taxi, it is less than the sum of all the plans of individual taxis put together. Therefore, they turn out to be more cost-effective.
Where to find taxi insurance?
Taxi insurance are available with all major insurance companies. You can also search for automobile insurance online. However, before buying a policy, you must consider several factors like your budget, kinds of covers that you will require, the health of where your service operated and the expertise of your drivers. Taxi insurance is the most significant safety feature for a taxi company and as such, its significance should not be neglected.