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Your Taxi Is Your Livelihood And Must Be Insured
Your taxi cab is your business partner and your job and pay checks depends on it. Having good taxi insurance coverage means you don't need to worry about being without your taxi for long. Many policies even provide a "loaner" vehicle whilst yours is being repaired. Most insurance policies provide cover for black cabs and standard variety as well as private hire taxis so check on the availability depending on what you require.
Insurance providers offer cover for many situations
Depending on your individual needs you can find adequate cover for your taxi from most any of the major insurers. Some policies are specifically aimed at certain driving requirements such as:
• The first time driver of taxi or other commercial vehicles
• Taxi drivers with experience
• Convicted drivers or accident prone drivers
• Those under the age of twenty five
• Short term taxi cab policies (designed for only temporary hire drivers)
Taxi cover need not be expensive
An insurance provider of taxi insurance will realise that your taxi cab is also your livelihood and that having proper coverage is vital to your situation. You can most likely get a good rate if your driving record is clean and you have had no claims for a number of years.
Look for a provider who offers:
1. Flexible pay options such as monthly, quarterly, semi-annual, and annual premiums.
2. Legal expense coverage
3. Immediate coverage
4. Seven day a week accessibility
5. Top quality customer service
6. Excellent claim service (customer service)
7. Discounts for safety equipment such as anti lock devices and fire extinguishers on board
What type of service you provide determines your insurance needs
Your taxi business may be defined by what you use your vehicle for. Specifically if you are a public hire which allows you to immediately pick up fares and can be flagged down for your services. This is called black cab or public hire taxis. Private hire taxi service generally refers to a taxi that takes fares by appointment only. They pre-book their appointments and can plan accordingly. They are not out driving around looking for business.
Can your private vehicle be used as a taxi?
The licensing authority will determine if your own vehicle may be used for taxi service. Typically smaller vehicles are not considered taxi cab potential due to the seating capacity and comfort afforded the passengers. Your own private driving record will be used to determine your taxi cab insurance rates. If your record is clear of claims or violations you may get a substantial discount on your taxi insurance premiums.
What exactly is taxi or cab insurance?
If you use your vehicle to carry fares or passengers for money, you are considered to be in the taxi business, whether your vehicle has the overhead light and a meter or not. Private hire service generally does not charge per mile but rather per individual service and full coverage is required. Full comprehensive, liability, and uninsured motorists are part of total coverage.
Adding additional drivers to your policy
When you add on additional drivers, whether family members or other hired drivers, your rates may well go up but you are also increasing your income potential and the risks of accidents.
Author Resource:-
Neil Anderson is a UK based finance specialist who provides advice and information about a wide range of products including taxi insurance. Find out more by visiting his website, at http://www.dna-insurance.com/
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