What is taxi insurance?

Taxi insurance 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 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 use. Taxi insurance is a back-up for taxis and their drivers.

What is the need 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 chance is more pronounced because taxis are more exposed to the risk of accident and damage on the road. Further, passengers can’t be held responsible to pay for damage if they are in the taxi once 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 contrary to 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 types 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 will 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 must be chosen remember the kind 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 every taxi. However, insurance companies have limits while giving fleet insurance just like the minimum amount of cars. Although Airport taxi Brighton for fleet insurance is a lot more than that for an individual taxi, it is significantly less than the sum of all the plans of individual taxis put together. Therefore, they grow to be more cost-effective.

Where to find taxi insurance?

Taxi insurance can be found with all major insurance companies. You can also look for auto insurance online. However, before buying a policy, you must consider several factors like your allowance, 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 important safety feature for a taxi company and therefore, its significance shouldn’t be neglected.