What Should Your Taxi Insurance Policy Include?

Monday, July 19th, 2010 at 12:37 am

When considering taking out insurance for your taxi one of the main things is what it covers. First, you must have insurance when you are going to drive a taxi. Without insurance you will be driving illegally. Second, each area that you operate in can have some different requirements. Once you have checked to see which things you must have as a minimum you still need to consider several options. An insurance policy must cover you for liability damage. If you do any damage to another vehicle or person, the policy will take care of the damage up to the limits of the policy. This coverage will generally cover your passengers against harm and loss.

Many taxi drivers have other options that are not required for driving by law but they should be strongly considered. Breakdown and assistance coverage will help you out if the vehicle breaks down. Towing and repairing the vehicle will help you to get back to work as quickly as possible. Theft and fire are peace of mind for you against someone breaking into your vehicle or if the vehicle is damaged by fire. Many people may try to sue you if there is an accident. Legal expense coverage generally help to defray the cost of dealing with the courts and legal representation. You might also wish to consider income loss. This type of coverage could help you to pay bills while your vehicle is being repaired from an accident. You might also want to protect your glass and windows. Rocks can fly and crack or break your windshield and cause you delays.

A policy will include excess but you might want to consider increasing the excess to cover unforeseen accidents or problems that may go higher than your normal coverage. Although an excess increase could typically probably raise your premiums, in the long run your taxi insurance policy will provide you with a better coverage that will help you to remain in business and on the road.

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