What is taxi insurance?
Taxi insurance is a safety cover for taxis. The frequency of road accidents has risen like never before. In such a 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 case of accidents, taxi insurance provides different types of covers like road damage, car damage, alternative 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 東涌的士.
What is the necessity 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 risk is more pronounced because taxis tend to be more exposed to the chance of accident and damage on the road. Further, passengers can’t be held responsible to pay for damage if they are 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 offers monetary relief to taxi owners by covering for various damages. Lawsuits cause major expenditure if the other party mixed up in accident files it contrary to the cab company. Since lawsuits take time and money, having an insurance to fall back on can be quite 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 are the services where the taxi may be booked in either advance or hailed off on the road. Insurance is provided for both these kinds of taxis services. In general, private taxi hire insurance is cheaper than public hire insurance. The insurance policy should be chosen keeping in mind the sort 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 every taxi. However, insurance firms have limits while giving fleet insurance just like the minimum number of cars. Although the monthly premium for fleet insurance is more than that for an individual taxi, it is significantly less than the sum of all of the plans of individual taxis come up with. Therefore, they turn out to be more cost-effective.
How to locate taxi insurance?
Taxi insurance can be found with all major insurance companies. You can also search for automobile insurance online. However, before investing in a policy, you must consider several factors like your allowance, kinds of covers that you’ll require, the health of where your service operated and the expertise of your drivers. Taxi insurance is the most important safety feature for a taxi company and as such, its significance shouldn’t be neglected.
What is taxi insurance?