Taxi insurance will ensure that the drive, the taxi and the passengers are insured as for the driver it is more than just a means of transport, it is his business and it needs to be protected in the best way possible. Having Taxi insurance is definitely the best idea when it comes to having a backup and safeguard your property in case of an emergency.
Types of taxi insurance
Third-party only: This is the insurance which allows the driver to take the taxi, but the insurance does not cover when the vehicle is stolen, catches fire or other damages. If there is an accident, it will be taken as your fault and the insurance comes to rescue only to benefit the third part which is involved and not you.
Break down recovery: Breakdown recovery offers support whenever your vehicle breaks down. This is must-have insurance, especially if you are an average taxi driver. This type of insurance will ensure that all the cost of getting your vehicles fixed is done on time as well as ensuring that the driver is safe.
Public liability: This type of insurance comes to your rescue when you are the reason for any kind of damages to the vehicle. They help by providing enough fund to retrieve and get you started on your driving job to ensure that there is not a long break in between the process.
Comprehensive coverage: This is the best type of insurance where the insurance will cover any kind of road incident as well as accidents where the driver is liable and also the driver can also make claims if there is any theft involved. Generally, people take advantage of this insurance and the rules are strict, if you are willing to buy the insurance, it is suggested that you read the terms and conditions as well as the policy before signing.
What is covered in a commercial car or taxi insurance policy?
- The damage caused by accident or nature or any other man-made calamities, which includes accidents, theft, fire, lightning, explosion, flood, storm, etc., is taken care of.
- A taxi insurance also covers the cost of any medical treatment which was caused to the driver and if you add a premium policy to it the damages to the car can also be covered.
- If there is accidental death, the insurance will compensate for the third party involved.
- Additional covers for tamps, tyres, bonnets, bumpers or any other damage parts or portion of the car.
- Personal accidents cover to be paid to driver and employees or any named or unnamed passengers.