What is taxi insurance?
Taxi insurance is really a safety cover for taxis. The frequency of road accidents has risen like never before. In that dangerous scenario, cab drivers and the cab are both at risky since almost all their working time is spent traversing the high traffic ridden roads. In the event of accidents, taxi insurance provides different types 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 probably to utilize. Taxi insurance is really a back-up for taxis and their drivers.
What is the necessity of auto insurance?
The answer to this question is the same as for the question regarding necessity of insurance for an exclusive car. In the event of taxis, the risk is more pronounced because taxis are more exposed to the risk of accident and damage on the road. Further, passengers cannot be held responsible to cover damage if they’re in the taxi when the accident occurs. The entire monetary burden falls on the shoulders of the taxi owner. Taxi insurance provides cover in times of accidents. It provides 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 take time and money, having an insurance to fall back on can be a huge respite in scorching situations.
What are the types of taxi insurance?
Automobile 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 will be the services where 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 coverage has to be chosen remember the sort of services that the taxi company mostly provides.
Insurance for the whole taxi fleet
Many taxi companies have more than one vehicle. In order to save costs, insurance could be taken for the whole taxi fleet rather than a single insurance for each taxi. However, insurance firms have limits while giving fleet insurance just like the minimum amount of cars. Although the monthly premium for fleet insurance is more than that for a single taxi, it is significantly less than the sum of all the insurance policies of individual taxis come up with. Therefore, they grow to be more cost-effective.
Where to find Duloch taxis ?
Taxi insurance can be found with all major insurance companies. You can also search for auto insurance online. However, before investing in a policy, you should consider several factors like your budget, kinds of covers that you’ll require, the health of the place where your service operated and the expertise of your drivers. Taxi insurance may be the most significant safety feature for a taxi company and therefore, its significance should not be neglected.
