If you are a taxi driver your vehicle is very important to you, it’s your livelihood. So it is essential that you have to ensure your taxi is under the right cover. both of you and your vehicle on the road are safe. As a taxi driver taxi insurance is very beneficial for you. It will ensure that you do not suffer any loss, all of which ensures that your flow of income is regular.
What is taxi insurance?
Taxi insurance is the cover for taxi drivers and the vehicles that they use as their taxis. this policy protects you and your business against any claim of damage or injury if any accident happens, unfortunately.
There are various types of insurance available, which are dependent on your business.
What does taxi insurance cover and why do I consider it?
Since while driving taxis drivers are in a position of responsibility not only to themselves and their own safety but also responsible for their passengers. Without insurance, both of you, your vehicle and your passengers are not covered if something happens to their vehicle. It means that without taxi insurance both them and their passengers are endangered, in financial and safety terms.
What does taxi insurance cover?
Cover are depending on the type of insurance policy. There are three types of insurance you can consider one of them according to your need.
If you drive your vehicle in an inner city or pick up passengers without pre-booking from the side of the road, from the middle of the streets, or from taxi stands then you should consider public hire insurance because it is according to your need and fulfils your requirement. It is also known as a hackney carriage. In this insurance, you must be have the license of hackney carriage for driving your taxi as a public hire taxi, and the driver’s age must be 25+.
If you carry pre-booked passengers then you should consider private hire insurance. This insurance is provided to those drivers who carry pre-booked passengers or use their taxis for delivery of parcels or food delivery. Insurance can be provided according to your needs. Not any specific license is required like in private hire insurance hackney carriage licence is required. In this insurance, you just have a driving license and the driver’s age must be 25+.
Is taxi insurance more expensive and why should I consider it?
Yeah, taxi insurance is more expensive than other insurance policies. As compare to car insurance this is more expensive but regular car insurance policy will not cover as much as u needed. Any driver who drives a taxi for-profit whether public or private hire will cover more miles than other drivers. This will increase the chance of damage to the car. Taxi drivers like to make their journeys in vehicles. That are large enough to take large no of passengers in it. And because of this risk is higher of accidents or injury to customers. Thats why taxi insurance quotes is more expensive than other.
But why should we consider it the question is there because regular car does not cover all aspects that taxi needs.