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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 high risk 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, 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 a safety net for taxis and their drivers.

What is the necessity of auto insurance?

The answer to this question is equivalent to for the question regarding necessity of insurance for a private car. In case of taxis, the chance is more pronounced because taxis tend to be more exposed to the risk of accident and damage on the highway. Further, passengers cannot be held responsible to cover damage if they’re in the taxi once 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 involved in the accident files it against the cab company. Since lawsuits devote some time and money, having an insurance to fall back on can be quite a huge respite in scorching situations.

What are 機場的士 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 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 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 your taxi fleet

Many taxi companies have significantly more than one vehicle. In order to save costs, insurance can be taken for your taxi fleet instead of a single insurance for every taxi. However, insurance firms have limits while giving fleet insurance just like the minimum amount of cars. Even though monthly premium for fleet insurance is a lot more than that for a single 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 look for automobile insurance online. However, before buying a policy, you should consider several factors like your allowance, kinds of covers that you will require, the condition of where your service operated and the expertise of one’s drivers. Taxi insurance is the most significant safety feature for a taxi company and as such, its significance should not be neglected.