Taxi car insurance

Taxis really make it easy to manoeuvre through the urban landscape with relative ease. They are convenient, readily accessible, and when it comes to Uber, generally affordable. But as we go about our business we forget that just like any regular motor vehicle, taxi car insurance is actually a thing. In fact, it's actually common for taxi owners to insure their motor vehicles. It is important to have taxi insurance cover. Accidents happen everyday, more so if one is on the road regularly. Taxi insurance covers you and third parties in instances of bodily injury, paying out a lump sum to pay for medical expenses. Insurance also covers your vehicle for damage or theft to ensure that your business operations are not disrupted. Car insuarance can be costly, but it a legal requirement. Car insuarance is especially costly for young drivers, business usage and taxis.

Read more about car insurance for young driver

Not A "One Size Fits All"

If there's one thing I respect about the notion of insurance it's the fact that premiums payable are adjusted to fit the unique circumstances of the insured. In the case of taxi drivers, there are certain factors an insurer considers in determining what is a reasonable premium.

* Age. Older, mature drivers are more likely to pay less than their much younger counterparts. This consideration is purely based on the level of experience exhibited and the associated risks involved when older or younger taxi drivers do their daily rounds. An insurer will ask questions like 'Is he likely to be swayed into drug or alcohol abuse?' 'How good is his judgment during the panic of a rush hour?'. On the other hand, advanced age comes with its associated limitations, such as eyesight problems and arthritis. So in most cases an age consideration will be coupled with a short medical.

* Area of Operation. If you operate your taxi in areas with high criminal gang activities you will pay much more than a person who does so in the quieter and more affluent suburbs.

* Personal circumstances. Are you married? Do you own a house? Expect to be drilled on matters one normally considers as private and confidential. Like married taxi drivers, taxi operators who own a house or have a mortgage are considered to be more responsible and less likely to be involved in accidents than those who aren't. And, always remember to be honest.

employment liability insurance

Then of course you have employment liability insurance for taxi owners who own several taxis as part of a business fleet. It is almost inevitable that these employers will have to deal with employees who may want to sue them for unfair dismissal, harassment or discrimination. In such instances it will be to your benefit as an employer to have employment liability insurance to cover such unfavorable situations.

Miscellaneous Benefits

Apart from being reimbursed for any financial loss or medical expenses occasioned by a motor vehicle accident, you can also benefit from towing privileges as well.

You can't do without taxi insurance because the income from your taxi business is what puts food on the table and pays the bills. Disruptions owing to motor vehicle theft or damage can really put a damper on your operations if you're not insured. Insure today and live a life of absolute peace of mind.